Sometimes it can be difficult trying to afford a family holiday, that is why we decided to write some tips of budgeting for your family holiday. However there are ways you can budget and cut back on things to be able to afford your holiday. You will know how much you can spend on a holiday; there is no point in spending thousands if you cant afford it. There is also definitely no point in going into debt for a holiday. Below are some of the things we do; which you can do to for budgeting for your family holiday.
Ways For Budgeting For Your Family Holiday
What can you afford?
So first look around and see what you CAN afford and where you would want to go. You can still have a fantastic holiday in the UK without going abroad.
Work out a budget
Write everything down and work out a rough budget for the holiday including the following:
- Travel insurance (a MUST have)
- Travel…be it flights, trains, petrol, car hire etc
- Food budget per day
- Daily outings budget
- If you have pets then prices for kennels or home boarding for them while you are away
- Spending money for extras like souvenirs etc
Once you have added everything up you can then see what your rough total would be. What we then normally do is count how many months there is to the holiday and divide the holiday total by the amount of months. Example – your holiday total was £1200 and you have 6 months to your holiday, then that is a total of £200 to save per month for your holiday.
Can you afford to save the monthly amount every month? If so then you can book your holiday and put aside the monthly amount each month. We have a separate account just for holidays. This means we cant dip back into the account and take money out.
Don’t give up that easily… is there anything you can cut back on per month to help save? Some examples that you may be able to cut back on
- Mobile phone bill
- Weekly food bill – if you buy brand names drop one level down to the shop version of it.
- TV and broadband…can you cut down on your TV bill or even cancel it. Do you really need SKY or Virgin etc…freeview is just as good.
- Gas and electricity…can you switch supplier and save money?
- Make a packed lunch instead of buying your lunch at work.
- Don’t buy magazines or things you don’t need. Always ask yourself…do you need this? Will you use it? If no then don’t buy it and save the money.
Above are only some of the ideas that you could try cut back on or cut out and save some extra money per month. If you still cant cut back (or wont) then try find another holiday elsewhere that is cheaper as there isn’t any point in booking a holiday you cant afford.
What tips to you have to save for your family holiday?