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Money Saving Tips to Make the Most of Your Summer Holidays

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In the UK, summer begins in June and goes all the way to August. Traditionally, it is a season whose temperatures average 48–64 degrees Fahrenheit but expect variations depending on your location. Sunny days are often long, and thunderstorms are occasional.

Spain, Portugal, and France are among the top destinations for Brits travelling out of the country.  Local destinations such as Lundy Island, Snowdonia, Dedham, and Norfolk are perfect for holidaymakers who’d rather spend their time within the UK.

Although it is difficult to pin down the exact spend UK holidaymakers incur, a close estimate would be £4792 for a family of four taking a two-week holiday. In addition, they spend about £227 per person per week on such items as general leisure shopping including souvenirs.

Money - Business news Scotland
Photo by Josh Appel on Unsplash.

Money, being a scarce resource, must be spent well. Holidaymakers must look for ways to spread the cost, get the best deals and lock in the best travel insurance among other strategies. To help you get the most from what you have, here are some of the best money-saving tips for your upcoming summer holiday.

Have an Itinerary and Budget  for Your Finances

Have an itinerary and a budget that maps the itinerary to help you cost every activity and event. Start by setting up a ceiling on how much money you would like to spend and stick to that. To make your budget more effective, ensure you break it down into categories such as meals, lodging, entertainment, transport, and other expenses.

Let every expenditure be tied to a specific category for ease of tracking. Also, you may sacrifice budget items in one category and reallocate the funds to another category for maximum utility.

Once your budget is complete, think about how you want to finance it. If you have been saving some money in a dedicated holiday account, you can use that to finance your vacation.

Alternatively, you can use your credit card if you have one or apply for long term loans no guarantor to help pay for your vacation. The good news with these loans is that you don’t need anybody to co-sign hence your financial life remains private. Plus, you can borrow anything from as little as £1,000 to as much as £25,000 at flexible repayment terms.

Get Deals on Flights

Publications from the Office of National Statistics reveal that the average cost of flights per holidaymaker in 2018 was £249. This was the second-largest cost item on vacationers schedule after food, drink, and entertainment. One of the best ways to save money on flights is to get early or late deals. If you book 2 weeks or 10 months before departure, you are likely to get discounted airfares.

Look at the different airlines and what they charge on your holiday route and think about travelling midweek instead of Fridays and Sundays. Even if your destination can be accessed via train, getting no-frills airlines such as EasyJet, Jet2, Wizz Air, Ryanair, and Vueling could be a lot cheaper.

Cut On Accommodation Costs

Budget accommodation costs an average of £23 per night. On a 10-day holiday, this adds up to about £230. If you book directly through resorts instead of travel agents, you may get competitive deals on accommodation.

Alternatively, you can check out packaged deals that include accommodation and flights. However, before you consider an offer, look at the separate charges of the items included plus any taxes and fees to determine if indeed it is an offer worth taking.

Privately-owned accommodations on short-terms rental sites like Airbnb, Vrbo, and Flipkey can give you both flexibility and cost savings.

Cashback sites such as Rakuten formerly Ebates can help you generate additional savings. They operate based on a simple model where you click on their vacation and travel offers, proceed to the partner sites, pay, and then get cash back rewards based on preset percentages.

Avoid Common Car Rental Mistakes

During your vacation, car rentals can make your life cheaper as you’ll be able to move around with a lot of ease. However, to make your holidaying budget-friendly, there are certain things you must avoid. Here are some of them.

Don’t rent your car straight off the airport. This is because, in most destinations, airport car rentals tend to be costlier due to the premium location fees vendors get charged to set up a kiosk at the airport. These fees are usually passed on almost 100% to renters thus making airport car rentals a little pricey. Consider taking a taxi to an offsite car rental location.

Ensure you understand the different scenarios that could result in penalties such as returning the car late, smoking in the car, not fueling the vehicle before returning it, and the wrong vehicle drop off locations.

Aso, ensure that you check the fee structure before accepting upgrades and other extra services such as GPS and roadside services.

Save On Restaurant Meals

Thanks to online food retailers and delivery companies, you can now sign up for cheap meal offers on sites such as LivingSocial and Groupon. You can customise your meal plans based on the city you’ll be visiting.

Buying some snacks and drinks from budget grocery stores can help you snack in between meals and delay having to pop in restaurants now and then. If the hotel you are booked into offers free breakfast, take advantage of that before you go out on your day’s trip.

When shopping for accommodation, specify properties that have a kitchen where you can quickly fix a meal whether breakfast or lunch.

Conclusion

Having a summer holiday doesn’t have to be such an expensive affair. With good organisation, you can pull off a memorable vacation at a fraction of the cost. However, this requires that you shop around for deals on items such as travel, accommodation, meals and entertainment, and car rentals.

If you begin early, you can get some good deals or destination packages that include travel and accommodation. Always be flexible and evaluate options before you make a choice. When it comes to financing your trip, go for the most flexible and cheap source of financing. Even though you can get approved even with bad credit, working to repair your credit can help you get competitively priced loan products at flexible repayment terms.