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The Summer Holidays are nearly upon us! Where does the time go? If like me, you STILL haven’t decided where you’re going on your Summer Holidays then I’ve got some great tips to share with you today to help you get beach budget ready. This post has been created as part of a paid collaboration with B, the digital banking service, and after I attended their beach budget ready panel with Jane Anderson from Family Traveller, David Judic from digital banking service B, Alice Beer from This Morning, Jasmine Birtles from Money Magpie, Sophie Qureshi, a beauty Journalist and Cate Dixon from Kuoni. Together they made up a fantastic panel offering lots of great tips to help everyone be beach budget ready and today I’m going to share some of them with you!
B have conducted some research which shows that British tourists will spend an average of £1,175 per person on their getaway this year, plus an additional £118 on pre-trip purchases such as toiletries, sun cream and their holiday wardrobe. This is a LARGE sum of money for a lot of families, particularly with multiple children, so today I’ve got 10 tips to share to help you make the most of your money thanks to the panel I was lucky enough to watch earlier this week.
Remember that a holiday is about more than finances, it is about emotions too
Speak to your family to find out what their requirements are for a holiday. One member of your family may want all-inclusive food, another may want to partake in some watersports. By speaking to everyone before you book you can make sure your family holiday is the best it can be, and budget accordingly.
Consider home swapping for your holiday
Thanks to websites like Home Exchange it is possible to spend money only on your travel and food. How these websites work is they allow you to exchange homes with another family, and both enjoy a ‘free’ holiday in the process. Well, almost free! You would be buying food anyway on any given week, so you’ll only really need to spend money on your travel expenses.
Consider an annual travel insurance policy
If you’re going to be travelling more than twice a year, even to places like the US or Canada, then look at an annual travel insurance policy. Be sure to check your policy thoroughly for things classified as “dangerous sports”. For example – did you know that banana boats can be considered a dangerous sport? I didn’t until it was mentioned at the panel!
Don’t buy your currency at the airport
We probably all know this tip already, but we still find ourselves leaving things to the last minute. Look at Glint, Monzo or perhaps consider the B credit card, which has no fees for foreign purchases (excluding cash withdrawals).
Use wi-fi hotspots where possible
Don’t get caught out when you’re on the move. While at your accommodation use their wi-fi, or local wi-fi hotspots, to download emails, check social media or look up maps in the local area on your phone before you set off out exploring for the day.
Try to avoid using credit cards at the ATM
If you need to make a cash withdrawal then avoid using your credit card. Also, be sure to select the option to use local currency, as this should work out better for you financially.
Create a savings pot for your next holiday
David from B recommended creating a savings pot before you travel, with a target to cover your spends for the duration of your holiday. The average customer is aiming to save around £1,500 in a holiday pot – which is a great amount to aim for!
Get your family involved with saving up
If you have children at home this is a great way to help them learn about the value of money. Look at areas together where you can save money.
Have a de-clutter and raise some cash for your next holiday
I’m a HUGE fan of de-cluttering and I love the idea of de-cluttering your home to raise some funds for your next family holiday. You could have your children de-clutter their toys, to raise some spends for their next trip. Not only can you tidy your home, and have it looking clutter-free, but you can make some money in the process. Check out my 30-day de-clutter challenge if you need some inspiration!
Consider somewhere different
If you’re able to travel outside of school holidays then look to travel to areas where the weather is still lovely in September/October, and use a low-cost carrier to save extra money.
So there you have it – 10 tips to help you get beach budget ready thanks to the digital banking service B.