You may think it is too early to start thinking about summer holidays. However, the earlier you plan, the better equipped you will be to manage your finances. Research suggests that a British family with an average annual wage of £26,500 spends between £1,000 and £2,500 a year on their summer holidays. This is equivalent to two months’ pay after tax deduction. Hopefully, this got your attention.
Here are some handy tips to help you plan ahead so that you can enjoy the sunshine without money worries.
Fix a budget
Don’t plan your holiday based on the cost of the flights and hotel. Before you book, create a budget for your expenses, including car hire, insurance and money to spend. Then stick to that budget.
Squirrel away money
You already know you want to enjoy a relaxing holiday in summer. Instead of straining your finances in the short term, set aside money every month for your holiday. When the time comes, you will not feel the pressure over money. If you do fall short, take a payday loan to help you out. Remember, payday loans can prove to be a great way to get access to quick money, but borrow just the amount you can repay without feeling the pinch.
If you are keen on spending time in a popular holiday destination, the best way to save money on flights, meals and hotel is going during the off-season. Everything will be cheaper, and you will be able to stick to your budget.
Do comparison shopping
Don’t forget to trawl the web and do extensive research to get the best summer holiday package. This will make sure your holiday doesn’t break the bank.
Plan your shopping
Get what you need for your holiday early. Look at sales to grab bargains so that you are equipped for your holiday and not spending money doing last-minute shopping.