Having a holiday with friends or family can be a great experience but it can also be a big cost. It’s a good idea to start saving early so you have enough money to cover your trip. Here are our tips on how to save for your summer holiday.
Choose the right holiday
Don’t rush into booking a holiday. It may look like you are getting a cheaper deal if you book for longer, but you’ll need more money while you are there. Don’t just look at the price of the holiday; think about transfers to and from the airport or resort, the price of food and drink in the resort, the cost of getting around and seeing the sights when you get there.
Plan your budget
Plan how much you will roughly need each day. Are there any meals included with your accommodation? Does your hotel have self-catering facilities? How often will you have to eat out? Will there be any costs for day trips, excursions or local attractions? Planning your budget makes it easier to see exactly how much you need to save.
Have a separate account
If you have a separate savings or bank account, then keep your holiday saving separate. This makes it easier to keep track and you’ll be less likely to dip into the money you’ve saved.
Cut back on luxuries
Rather than ordering costly takeaway meals, plan meals you can cook at home using inexpensive ingredients. Instead of going for a night out with friends, have a night in to save money. Don’t spend money on pricey cinema tickets, watch a movie at home instead.
Have a no-spend weekend
At least once a month, plan a no-spend weekend. You’ll be amazed how many ideas there are for what to do on a no-spend weekend. Not only could you find new ways to have fun, you also reduce your spending.
Running a car can be a big expense. Instead of driving everywhere, walk short distances to save money on petrol.
Sell unwanted items
Have a good clear out of old books, games, toys, clothes,DVDs and any other unwanted or unused items. Anything that is in good condition could be sold online or at a car boot sale for a little extra cash towards your holiday.
If your job allows it and you can work some extra hours, then volunteer for extra shifts to top up your income.
Earn a little extra income
If you can’t get overtime at work, then there could be other ways to make money without even leaving the house. These might include completing surveys, earning cashback or sharing a skill.
Borrow holiday items
Don’t blow the budget on buying lots of new items for your holiday. See if you can borrow items like suitcases, cameras, beach towels or travel games from a friend or family member. Borrow beach wear, flip-flops and sunglasses if you don’t have your own.
It isn’t always possible to afford a summer holiday but ifyou can put a little money aside each month then you could eventually save enough. It is important that you don’t overstretch your budget, or you could end up struggling to cover any emergency costs that crop up.
At Morses Club, we offer small cash loans to help with unexpected expenses. We assess each application in person, based on your individual circumstances. In some cases, we can offer loans to those who have been refused credit from another lender. This isn’t guaranteed, but if you’ve been suffered with bad credit in the past, then we may be able to help.