Beat the January Blues – 10 Ways to Budget for a Holiday
Author: Tima Maherali, Senior Content Creator
A holiday is the perfect way to take a break from the everyday bustle, without breaking the bank. Want to know how? We’ve put together 10 savvy saving tips, so you can enjoy your next great escape without the hard cash hassle.
Start the new year with these resolutions and budget like a pro to indulge in that tempting slice of fun in the sun!
1. Automate your Stash
Have a brew and browse through exciting getaways to get an idea of what amount would be feasible to spend on your next escape. Bear in mind your salary and important monthly outgoings and break it down into affordable monthly figures. The next step is to set up an automatic transfer directly from either your salary or current account to a dedicated savings account. This way a fixed amount always hits your holiday hotpot, helping you keep track of your getaway balance and avoids you splashing out elsewhere.
You’ll not only be excited about the reality of your next lucky break and feel motivated on rainy days but will also find budgeting in a break easy peasy! Plus, holiday-related payments can later be made from the same account for even more convenience.
Top Tip: Just remember to opt for an easy-access savings account so you can access your savings whenever need be.
2. Wise up on Where you go
When it comes to booking holidays, it’s always a good idea to see which holiday destinations are offering the best deals. You’ll also find off-peak offers by comparing the same destination in different seasons, which could save you heaps. Try to avoid school holidays and opt for the shoulder season. In many places if you don’t mind not having the hottest temperatures, you could not only save money, but also enjoy less crowds and a more dedicated service. For city breaks look at October and November or January to March. Search up countries that are less touristy or where the pound is strong. Travelling to countries like Turkey, North Cyprus or Indonesia can be economical and you can have some amazing experiences there too.
Thought about departing from different airports? Even if they’re a bit further away this can sometimes be a much cheaper option, especially when your flight savings outweigh your additional travel costs to get there.
Top Tip: Midweek can be way cheaper than flying over the weekend and better offers are often available at unsociable hours of the day (extremely early or late).
3. Pick a Package Deal
Sorting your own holiday may seem economical at first, but it all soon starts to add up. Package holidays can often save money, time and headache, even compared to Airbnb’s. Here at Holiday Best, we have the knowledge and expertise to put together the best holidays at the best prices and can even help you choose the right package according to your specific needs.
We take care of everything from flights and luggage to accommodation, transfers and we even offer excursions in resort. Not to mention the priceless peace of mind of being ABTA & ATOL protected. Our trusted partners often give us cheaper prices and exclusive discounts on their products, such as hotels, transfers and tours, which we enjoy passing onto you as deals and offers, so don’t forget to check out our latest escapes right here.
Top Tip: Be an early bird and save even more with our “Early Booking” packages, which are all hand-picked and labelled for you on our website.
4. Book early, Pay Later!
Aside from cheaper prices, planning ahead and booking in advance gifts you with the best options of available dates, room types, flight times and seats on the plane! And the benefits of booking an early bird deal don’t stop there as we’ve just slashed our holiday deposit amount to just £25 per person! Once you’ve paid this teeny amount you can sit back, relax and pay what you want when you want, with the total not due until 30 or 60 days (depending on your package) before you fly! To be extra savvy calculate your time horizon once you’ve paid your deposit, setting out many weeks / months you have left to pay off the rest.
So no more having to go with the cheapest deal or sticking to monthly payments. No more compromising on leftover last-minute breaks once you’ve finally saved up or even worse missing out on going away altogether! You can now look forward to a real dream escape as you have more time to pay, plus you can still sort out that urgent house repair (or even buy that new phone you’ve had your eyes on!)
Top Tip: Check out our Best Early Booking Deals here, where you can book Turkey mega early with Southwind Airlines and pay 30 days before you fly! (Shhh don’t tell the Joneses!)
5. Local Money Matters
It may sound a bit of a hassle, but being a savvy holidaymaker means taking the time to do a bit of extra homework. Look into the cost of visas and travel insurance to destination options. Wise up on local spending and exchange rates and consider countries where the cost of living is low. From attractions, local food and transport to bottled water and other necessities, this will give you an insight into how you can cut back on costs or whether you may need to budget in some extra cash.
Bear in mind that dining out is a major holiday spend, so skip crowded tourist areas when planning meals and if £15 on a glass of vino is normally a no no, then why splash out when you’re abroad? Check out local lunch specials, happy hours, tipping habits, off peak entry prices and budget accordingly.
Top Tip: If breakfast is not included with your stay, search out cute local cafes instead of falling prey to costly hotel breakfasts and hotel mini bars!
6. All Inclusive Assets
If holiday-budget planning is a pain as you always seem to arrive home with a huge credit card bill instead of a healthy glow, consider an all-inclusive holiday.
It may cost more to pay for the full whack upfront but could save you heaps overall – think about wrapping up all your costs for accommodation, food, drinks, entertainment and activities before you take off. As soon as you land you can completely let go without overspending! So, forget about budgeting in all those little extras that add up on holiday, like local costs for coffee, taxis to the beach, spontaneous cocktails and ice-cream for the kids... simply check in, put away your wallet and live your best life!
Top Tip: Always check exactly what’s included and go for resorts offering useful amenities like a beach, waterpark, free shuttle buses, sports, activities and live shows to avoid the costs of days out.
7. Kick the Shopping Habit
Instead of splashing out on new clothes and heaps of toiletries for your upcoming escape, wouldn’t you rather treat yourself whilst you’re in that exotic bazaar on holiday? You’ll take home a useful souvenir instead of another fridge magnet or key ring for mum that’s going to end up in the clutter drawer! Bring back things you need fused with priceless memories and leave the tourist traps behind!
When shopping abroad, have a look around to double check the prices are consistent and avoid buying essential items from hotel shops, which often mark up their prices for convenience. With local vendours you can even put your bargaining skills to the test if something that steals your heart seems pricey!
Top Tip: Don’t waste your pennies on fancy travel sized toiletries. Check what your hotel supplies before you go and fill up mini bottles of your existing toiletries at home.
8. Be a Currency Queen
Exchange your cash on the high street or compare rates online for home delivery, rather than last minute at the airport to avoid paying more. Keep the exchange rate of your destination handy - create a screen saver on your phone if it helps, showing exactly what 1, 5, 10 and 50 of the local currency equals in sterling. This gets you clued up on how much things are and whether or not you’re being ripped off.
Set a daily budget and use cash wherever possible so you won't be hit with hidden fees for using your card. Try to avoid withdrawing money with your credit or debit card and if you do end up having to, opt to pay in the local currency - it's the cheapest option. Alternatively, you could look into getting a “holiday credit card” that doesn’t incur a transaction fee abroad or even use a pre-paid travel money card. Just load it up before you go – knowing you have a set amount for spending helps you hold firm to your holiday budget.
Top Tip: Credit cards are tempting, but don't forget to spend within your means and if you can’t pay your holiday balance off in full when you get back, set up timely monthly payments to escape any interest.
9.Tighten up on Transport to the Airport
Taxis to the airport can often be pricey. With a bit of research and compromise on time, you could save heaps by taking public transport or by pre-booking budget parking options at the airport. London Stansted with ‘Jetparks’ and Edinburgh with ‘Plane Parking’ sometimes offer cheaper onsite airport parking in comparison to the cheapest off-site alternatives.
Did you know you that by leaving just half an hour earlier, you could pocket over £100 on travel to Luton from central London with the National Express coach over going by cab? Public transport could even work out cheaper than a friend’s ride, as the price just for a “drop off” at the terminals can also be a setback. Most of these ‘drop zones’ can make your parking cost rocket. Stansted’s charge currently goes up to £25 if you’re over by 15 minutes, while Liverpool and Glasgow jump to £10 for 20 minutes!
Top Tip: Many airports have freebies linked to specific car parks. They are mostly long stay, involving a bus or walk to the terminal, but it's worth checking out their websites before you travel.
10. Leave your baggage behind
Avoid the hefty cost of a checked case, which can make all the difference to the affordability of your holiday. Be ruthless with your packing and travel light! Ditch or wear heavy items and if you still can’t get away with just hand luggage, how about sharing a case with your holiday companion? Whatever you decide, make sure any checked bags are added when booking your flight – it’s often cheaper than adding one later.
Find out your baggage allowance, always under pack, follow the essentials only rule and weigh your luggage before you fly as going over your limit could be a nasty surprise. Bear in mind that every airline has its own size and weight restrictions and some even include hold luggage with their tickets.
Top Tip: Planning to holiday shop? Don’t forget to leave room in your bag for the extra weight or consider packing an empty, lightweight bag into your luggage to split between whoever you’re travelling with on the way back – thank us later!
It really is worth exploring these options to snag a bargain break and master more money in your pocket for your holiday, so put the kettle on and start planning your next escape here.
Disclaimer : Holiday Best does not provide financial advice. These are just useful tips for informational purposes only.