How to Budget for a Family Holiday

*Collaborative Guest Post

 

How do you budget for a family getaway? Are you a savvy spender or are you on the lookout for tips to lower costs?

 

Holidays

 

The summer holidays may seem like a distant memory now, but if you’re already looking ahead to next summer or even to the spring half term break, now is a good time to really think about how you plan your spending for your holidays.

 

Whether you know where you’re going or you’re starting the planning from scratch, here are some top tips to make your money go further.

 

How do you Pay?

 

Money

 

If you’re yet to book your break, it’s worth thinking about how you’re paying for it. Saving up and paying with cash is probably the most financially sensible route to take when paying for everything, however there are benefits to be had from covering the cost with a credit card.

 

The main positive with using a credit card is that it’s probably protected under the Consumer Credit Act. Therefore, if something goes wrong, such as the airline goes bankrupt before you can jet off, you can put in a claim and potentially get your money back.

 

If you do pay by credit card though, it’s worth saving up the money beforehand so you can pay off the bill with the money you’ve set aside. You don’t want to be paying lots of interest on a holiday you took a while ago, so being in a position to pay it off quickly is ideal.

 

Create a Budget

 

Whether you’re abroad or holidaying in the UK, enjoy camping holidays in France or prefer to rent an Airbnb in Amsterdam, you’ll need to create a spending plan. Think about exactly what you need to plan for before you go away as well as while you’re there.

 

Do you need new holiday clothes? Sort through the ones you have and only replace the essentials. Also, shop around for toiletries as you’ll find they’re often cheaper at discount stores.

 

Once you’ve bought what you need, set your spending for the whole family, covering everything from food and drink to some holiday treats from local shops. If you’re a family that spends a lot at the local markets or the beach front stalls, limit it to one or two souvenirs.

 

Also, remember to cover the cost of day trips. Whether you’re a family who heads straight to the water parks or you enjoy seeing the sights, research admission prices and budget for this, too.

 

Where are you going for your next family holiday? Will you be using any of these budgeting ideas?

 

 

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