Most people will start budgeting for Christmas holiday as early as June, but they don’t necessarily budget for family summer holiday. However, it’s important to plan well and in advance to ensure that our summer holiday leaves us only rested and relaxed, with a new bunch of memories in our heads. The whole process of budgeting for summer vacation with our families may seem distasteful. Nevertheless, it can make or break the barrier to an incredible summer. It’s recommended that you budget for summer holiday the same way you do for Christmas holiday. Wise up and take a sensible approach while budgeting for your family summer holiday to make it more exciting. Here are few tips to help you budget for the summer vacation.
- Set the Budget. The first step that you should take when budgeting for the summer holiday with your family is to set the budget itself so that it can guide you on what to budget for. Ensure that you not only budget for the basic cost of the food, accommodation or flight costs, but also include spending money, clothes, insurance covers, transfers, food and drinks on your budget. The ultimate goal is to make your family summer holiday unforgettable, so include every detail on your budget.
- Start Saving. After completing your budget, saving is the next move that you should take. Remember it’s never too soon to start saving up. In fact, the knowledgeable holidaymakers are the ones who save as little every month into a chosen holiday account. It will help you to know the amount you have got to work with and what your holiday goals can be.In case your holiday savings need a boost we recommend a few good extra ways of increasing your family summer holiday money.
Try buying shares from online trading companies like CMC Markets and sale later making a profit. Look around the house for things that you don’t use and list them on eBay or your local selling sites. Look for your bills like broadband bills to find out whether you are being overcharged and the possibility of swapping providers.
- Consider your Summer Holiday Destination. Planning your family summer holiday is probably one of the best stage. Think about various holiday destinations and research their costs. After narrowing down your choices, start comparing their prices without being biased to either of them. You can compare the costs of accommodation and flights going to the destination and decide to choose the best. Also, pick a destination that offers value for your money.
Look for destinations that have cheap or free activities for the kids since it will generally reduce the spending cost while on holiday with your family.
- Watch Your Savings Grow. Make sure you check your savings regularly to see how you are progressing. Set targets along the way to help reach your goals. Don’t forget to take your money-budgeting habits on holiday with you to ensure everything goes on as planned.
- Book Your Destinations At The Right Time. The best way to get good family summer holidays deals is to book your destinations at the right time when prices are low, or discounts are being offered. Like family Christmas holiday, getting an early start on your summer holiday will help boost your budget. After successfully narrowing down and choosing the right destination, use online sites to compare the cheapest flights and also look if there are discounts on hotels while booking. Make initial deposits on most packages to get months to save up.
- Free Sightseeing. When budgeting for the family summer holidays, avoid the expensive open-tour bus and take a walk around. Take advantage of the free walking tours in your holiday destination if there are any. The more you walk around the city, the more you will reduce your expenditure on taxis or buses. In many occasions, walking tour guides have a lot of knowledge ranging from culture to the history of the place and they will give you stories only locals know. Take advantage of these walking tour guides and save on the cost of hiring taxis to drive you and your family around.
The bottom line is that we should start budgeting for family summer holidays the same way we plan for Christmas holidays to minimize the chances of overspending while on holiday.