Holidays are all about family, fun, food, drink and spending far too much money. We often put our spending to the backs of our minds over a holiday period, deciding instead to think about how much we have spent when we return leaving us often with more than a little shock.
Yet many of us have no choice but to think about what we are going to spend on holiday because we simply do not have the money to cover all expenses these days for whatever reason. In cases such as these, it is questionable whether it is actually possible to enjoy a holiday even in your own country without breaking your bank account? Luckily, although it can be difficult, it certainly is possible.
There are peak times in the year, specifically the first few months, when holiday packages are going cheap because companies either need to boost tourism in an area to create high volume in a short period, or because in the early months, travel agents find it difficult to sell certain holidays when compared to say, the summer months.
Therefore if you buy around this time you are likely to not only get a bargain, but also to experience a country which is not chaotically bombarded by holiday-makers at its busiest period. The ability to buy cheap means that you will hopefully be able to enjoy your money better actually at your destination, whilst at the same time knowing that when you return you will not have to delve into the dark area of loans to keep yourself afloat. The last thing you want after a holiday is that sinking feeling of regret as you wonder whether you should have gone.
Another thing to look out for when exploring the holiday market is packages which accommodate what you require. If you have a young family, often there are family deals which reduce the price because there are more of you going as a group. Furthermore some brands such as Disneyland say that if you book before a certain time young children not only go free but you all also get to dine for free as well. Therefore it is very important that you understand exactly what you require from a holiday to ensure that you get the best deal for you.
Make Use of the Internet!
It is known that there are far cheaper deals to be found on the Internet, as the online retailers have far less overheads than their high street counterparts; there is no rent, electricity and far less staff to have to pay. This all means they can offer their products at a much cheaper price. It is recommended that you keep an eye on deals as they often rise and fall in conjunction with the time of year. It is also wise to book as early as possible to get the best deal.
It is extremely important that everybody budgets when they are on holiday, making sure to stick strictly to what they have decided to spend. This is essential if you wish to avoid an excessive debt when you return.
By making a pre-planned budget, you can calculate exactly how much you will need to cover your expenses; with this budget preferably prepared as early as possible during the year. This will allow you to set aside a certain amount either for each member of the family, each day or even each activity that you hope to experience, so that you can meet these expenses without having to borrow.
Budgeting is by far the best way to survive a holiday without actually going into the red; in fact you could start saving for a holiday as soon as you know when you want to go, even if it is a not for another year; giving you the whole year to save for the next one.
Watch the Debt!
You also need to limit you future debt in the form of credit cards and credit deals, such as buying something on a long term credit agreement that will eventually cost you far more than if you were to pay for it outright.
A credit card when used correctly can be extremely handy, although it is only worth it if you can afford to pay off the balance within a month, otherwise you are going to be stung with additional fees. If you can manage to do that, you can also take advantage of some super savings of up to 5% from their rewards system.
If you do require a bit more help to pay for your holiday expenses when you return if say you went over your budget a little, in most cases it may be better to apply for a loan than to keep paying the charges on your credit card each month. It goes that you should obviously shop around and make sure you are getting the best deal available, whilst always making sure that you read the terms and conditions.
Stuart Edge loves travelling with his young family and so they understand the need to save and budget on a holiday. However a holiday is for enjoying yourself and so if you do find when you return that you have gone over your budget slightly, then applying for loans can be a help in getting you back on track. Don’t regret your break; simply be wise with your money.