Going away this summer? Get saving!
For many people, the summer holidays offer a fantastic opportunity to escape work for a couple of weeks and read a few good books by the beach. However, with the collapse of the pound against the Euro and increasing unemployment in the UK, holidaying this year could be more costly than ever.
If we’re honest, not many of us would sacrifice our holidays even if we were in financial difficulty, but with purse strings tightening, it’s more important than ever this year to budget well. After all, there’s nothing worse than coming home from a relaxing break to the stress of bank charges, credit card debt and rapidly increasing overdrafts. It’s enough to make you forego that extra jug of sangria!
Stick to your limit
As with all items of major expense, we need to decide what kind of holiday we can realistically afford before we start pouring over unhelpful images of palm-fringed beaches and infinity pools. We all want a fortnight in the Maldives, drinking vintage champagne whilst relaxing on the beach, but we can’t all afford that kind of lifestyle. There’s a real temptation to keep up with the Joneses and we all know where that can lead. So, before you even click on millionairetropicalgetaway.co.uk, you need to first decide on a limit to your spending and more importantly, stick to it!
Do your research
The internet’s a fantastic tool to find the cheapest offers out there, but the choice can be bewildering. We turn into kids in a sweetshop, scouring the pages to see if we can shoehorn our limited budget into a five-star all-inclusive in the Seychelles. So, take a deep breath, get a pen and paper handy and note down the best offers before your mouse finger goes into overtime on the ‘buy now’ button. One advantage to the economic crisis is that holidays are significantly cheaper this year, especially if you can go outside peak season or to unusual destinations. Be creative, think outside the Med and don’t be afraid to wait for a great deal to show up.
Save to spend
If you’re able to, put aside some additional spending money each month as well. We all like to indulge on holiday and being able to take some hard-earned cash away with us makes this all the sweeter. Nothing takes the pleasure out of that ice-cold beer more than the thought of your mounting overdraft back home, so be sensible and save what you can before you head off into the sun.
Lastly, if you’re really struggling with your finances this year, you may have to forego a paid holiday. There’s no shame in this and if you are at all concerned about your finances or struggling with debt, please don’t hesitate to contact Christians Against Poverty to see how we can help you. For those of you who are able to go on holiday, have a fantastic time and remember, don’t forget the sun cream.
Top Five Tips to avoid Holiday Overspend
1. At the start of the year, look at your annual budget and decide how much you can spend on your holiday. Divide this total by twelve and save this amount of money each month to make sure you don’t over-spend
2. Stick to your budget, and be realistic
3. Search the internet to find the best deals and if finances are tight, look for cheaper alternatives like camping, or holidaying in the UK
4. Save a small amount of ‘spending money’ each month
5. Buy your sun-cream in winter when prices are cheaper!
Jonathan Priestley works for Christians Against Poverty - an award-winning, Christian debt counselling charity. Their service is totally free and you’ll find out more information at www.capuk.org or by calling the freephone enquiries line on 0800 328 0006.
Still unsure about holiday spending? Why not take a look at How 2 holiday from home
Written by Jonathan Priestley.
Digg it
Reddit
Delicious
Stumble It!
Furl it
