20 July 2016
You are here: News - Holiday Budgets - Plan, Save and Still Have Fun!
Whether you’re going for a midweek stay to a remote destination or for an extravagant 14 day stay in an exotic destination of your choice, it’s going to cost you money. And the last thing you want is to return home revived and energised until your next credit card statement arrives! Luckily there are clever ways of planning towards your next holiday and making sure that you have enough pocket money to make the most of your next getaway.
Know What it’s Going To Cost
Make a list of what you’ll need for your holiday - from the big things like petrol money or plane tickets to smaller details like a day trip to a theme park or a spa treatment. Do research on nearby attractions, call the resort about on-site facilities, and make a mock grocery shopping list. Don’t forget to put some money aside for unplanned emergencies.
Open A Holiday Account
Once you know how much you need for your holiday, open a bank savings account where you can transfer money into when you have a little bit extra. You can even set up a debit order if you’re serious about saving. Put the money in a short-term fixed deposit account to earn more interest. Set a goal for yourself and work towards it.
Do A Meal Plan
It’s helpful to plan your meals in advance when staying at any of our self-catering resorts for a number of reasons:
- It’ll prevent you from over-packing.
- You’ll be able to split your budget better between what you’ll need for groceries and restaurant bills respectively.
- A lot of money is usually spent on snacking (a cool drink here; an ice cream there…). With proper planning you can pack and prepare for your family’s snacking requirements during the day.
Get Your Children Involved
Explain to your children the importance of going on holiday to relax and saving their money. They can start saving their pocket money immediately and by helping with errands around the house, start earning a little more. Show them how much money they’ll need for ice cream or the theme park and get them to pay for it themselves when you’re on holiday. It’s a great way to teach your kids about financial planning!
Audit Your Expenses
This may seem like the last thing you want to do on holiday, but keep a spreadsheet of your expenses. Enter each expense (keep your receipts!) so that you can see how your budget is keeping up. This will also help you plan towards your next holiday.