Summer holidays usually end at the end of July and last until the first week of September. However, are you ready for the trip? Most individuals struggle to save enough when the period approaches. It is the reason you must start early. Yes, it may be challenging to save alongside the primary expenses. However, you must do it now for a comfortable holiday.
Your children must be waiting for a surprise trip. Make sure you take weeks off and be financially ready. Many working people take two or more weeks during summer. So, the summer holidays last for about 6 weeks in the country. So, the blog lists the best ways to save money to have the greatest summer bang.
How much do Brits plan to invest in summer holidays?
According to Statista, “individuals spend around £2000/person on summer holidays.” It means if you are a family of 5, you must have £10000(minimum) for the event. It is okay if you have not yet thought about that.
But first, you should have a vague idea of how much you want to spend. Britishers plan to spend £577 on summer holidays in 2025, according to NerdWallet. It is low in comparison to £1,011 in 2023. The savings may vary according to the region and the budget.
5 strategies to save money for a wonderful summer holiday
The blog may help you start saving from scratch. The first thing to start with is setting clear expectations. Thus, just step back and think about the low-cost and free activities that children may enjoy. Later, you can include some cost-friendly activities to surprise your kids. It will help you keep your budget low and ensure a memorable holiday. Here are other ways to plan a low-budget summer holiday in 2025:
1) Prepare a list of the travel costs
It is the first thing to consider while planning for summer vacations. You need to have a vague idea about the costs involved. For example, how much do you plan to invest in shopping for vacations? It may include buying the right apparel, shoes, and a suitcase.
Check whether your passport is ready. If not, you may need to spend some time updating the validity. Similarly, booking accommodations, tickets to specific destinations, and flights entails a cost. Write it all on a notepad and calculate the expected costs. However, if you are £5000 low on claiming the most affordable tickets, get it now.
You may get instant cash despite a low credit rating. Get a 5000 loan for bad credit with no guarantor requirements. It helps you finance the deal immediately without waiting for the guarantor. Check whether you can repay the dues timely. Choose a comfortable repayment period if you lack a decent credit history. It will help you repay the dues comfortably.
2) Explore discounts you may get
Yes, you may spot travel discounts on popular websites or platforms like Skyscanner. Check how much money you can save on flight bookings. Choose the days and the time wisely. Usually, it is ideal to book tickets at least 3 months before the holiday season begins. It is because you may spot cheap tickets in comparison to booking one later. You can explore the Clubcard vouchers. You may qualify for some better deals in there.
However, a 30-day membership may help you save more on the gym and other facilities. You can even visit natural parks, beaches, and other aspects for free. You can even check the council websites that host pages for local events.
It may be fun to explore the best possibilities of funds within your vicinity. You may subscribe for upcoming events that may prove interesting for you and your kids. Some events are free, and some entail low costs.
3) Set up a different savings account
It is one of the best ways to keep your basic pennies for the holidays. Identify a high-yielding savings account. Check the interest you may get on the account. Compare and choose the best one according to your needs and goals.
Save a particular amount of sum every week in this. It will help you grow your savings quickly. Yes, you may go for the monthly savings. However, that will slow down the process of achieving the goal.
For example- Your monthly expenses amount to £15000, and you can save only £3000. Split this amount into savings goals. You can save some towards an emergency fund and some amount for the summer holiday. If you even save £500/week for 4 months, you can easily save £8000 by then. Decide the amount according to your affordability, trip requirements, and expenses.
The added interest will simply increase the total amount you can save with a savings account. However, you must rationalise discipline. Don’t use the account for other purposes.
4) Set a spending limit on each expense
It is last but one of the most impactful strategies to save money for your summer holidays. Determine every expense (wants and needs) that you incur per month. Identify the actual or average a particular expense must take and what you spend.
For example- ideally, your utility bill for a 2-room apartment should be £769.80 according to average statistics. If your bill exceeds this limit significantly, check where you can save. Is it about using additional cables and air conditioners unnecessarily? If yes, shut down such expenses for some time. It will bring down your expenses.
Similarly, check the average expense and compare it with yours on other aspects. It will help you save more money. However, make sure you don’t skip payments during this check. If the electricity bill turns out higher than your expectations, don’t worry. Identify the instant cash facilities to pay the bill before the due date.
Some experts offer quick money regardless of credit history. Yes, you may get 1000 as a bad credit loan from them. Get the loan online by providing basic details. It is ideal for students with limited credit history seeking instant money. You may repay it later with part-time income in small instalments.
5) Check for a freetravel card
Yes, you may qualify for a free travel card if going to certain destinations. You will need to search for the destinations where the card is valid. For example- you may get one in Luxembourg. You may use the travel card for transportation. Similarly, Australia hosts free travel cards for no-cost transportation.
Apart from that, check for a card that allows free of cost cash withdrawal. It is important because using your country’s credit card to withdraw cash may prove costly. It may exceed your credit card bill drastically. Therefore, analyse the best ways to save on cash withdrawals and travel. You can also ask the natives about freebies that you can rationalise at the destination.
Bottom line
Thus, if you fear spending time during the summer holidays, read this. These tips will help you plan your trip and cut expenses by detailed research and wise budgeting. Analyse the basic things you plan to spend on while preparing for the holiday.
It helps you set basic standards for the amount you must save. Next, check on the aspects that may catalyse the saving process. Setting up a different account, cutting additional costs, and using freebies is the route to that.
