The COVID-19 pandemic put a dampener on many people’s holiday plans. With flights getting cancelled and the price of a UK staycation skyrocketing, many of us haven’t been able to get a much-needed break. However, now the UK has started adapting to its new normal – we can holiday once again!
However, for many people, the pandemic brought financial uncertainty. Businesses closed, people were furloughed and many lost their jobs, meaning money has been tight ever since. So, we must find a way to get that summer sun while being cash conscious.
In this blog, we’ll discuss the ways you can save money, helping you prepare for your summer holidays. Our tips should help in both the short and long term, so you’ll be on that flight in no time.
Set a budget
It’s often the case that you get carried away when planning your holiday. Paying for little extras here and there always adds up, leaving you in a vulnerable financial position. Setting a budget before you plan your holiday is vital. By assessing your finances you get a clearer idea of what you can afford before you commit.
A budget will highlight what you already have and show what you need to save before jetting off. What’s more, limiting your spending will avoid wasting money that you can’t afford.
Look for a bargain
Last minute summer holidays are great value for money – and there are plenty to choose from. Why not pick a date, book it off work and plan your holiday just before you go? Many hotels and airlines offer cheap deals to fill seats and rooms, so bagging a bargain is one of the best ways to save money for your summer holiday.
Cut down unnecessary costs
That extra takeaway might seem tempting, but make sure you put things into perspective. Cutting down on one £30 takeaway a week for a year could save you over £1,500 – that’s big holiday money.
It might seem overwhelming, but take a closer look at your bank account. Be ruthless and identify what are necessities and where you’ve spent money flippantly. Whether you make a change for life or just until your summer holiday, it’s worth saving all the cash you can to have a well-deserved break.
Be held accountable
If you’re looking for clever ways to save money but trying to do it on your own, consider getting some help from a close friend. Keeping promises we’ve made to ourselves can often be hard as it’s easy to slip without consequences. However, letting a friend or family member know about your money-saving plans will help you stay accountable for your actions. Whether you let them see your receipts or just ask them to check on your progress, you’ll be surprised how much accountability can be an easy way to save money for your summer break.
Stash your change
Gone are the days of carrying cash around, most of our payments are done online, by card or on our phones. However, sometimes cash is your only option and you’re left wondering what to do with the change. Well, a great way to save more money is to stash your loose change. Alone, you might deem a few pounds as a pain to carry about, but when you add it up, you could get a great cash boost for your summer holidays.
Expect the unexpected
Whether you like it or not, unexpected costs catch you out every month. Whether it’s an issue with your car or your boiler breaks down, we all need some extra cash to cover the costs. While it’s not good to be pessimistic, it’s good to be realistic and cover your back in case of any unwanted surprises.
Putting money aside for unexpected costs will stop you from having to dip into your holiday funds. And, if you’re lucky enough to sail through the month with no issues, you can use the extra cash boost for your holiday spending money – win-win!
However, if you’re caught off-guard by an unexpected payment and you’re looking for a short-term loan lender to cover the costs, consider a Drafty line of credit instead.
Get ready for your summer holiday with Drafty
So, if you’ve assessed your finances and want a quick and easy short-term personal loan alternative to cover any unexpected costs this summer, visit Drafty today.
Disclaimer: We are not providing financial advice, these are just tips for informational purposes. Also, we are not affiliated to any of the external parties, these links are provided for reference only.
