In just a couple of months time, families from all over the country will be jet setting away on their summer holidays, to spend some quality time with one another somewhere in the sun. Yet amidst all the excitement of a holiday approaching, it seems that many families either forget to organise their holiday budget during the run-up or simply fail to stick to it when the holiday arrives.
In fact, it’s been discovered that many families forget to keep track of what they are spending on their holiday and will need to spend £530 on average, just to make up for the unexpected costs of their holiday!
If you’re counting down the days until your family holiday is here, there’s a lot you can be doing during the run-up. With a little planning and preparation, you could save your family a lot of money and still thoroughly enjoy your holiday at the same time.
Where might you find yourself overspending on holiday?
Research from Atol found that there are a number of common costs that families sometimes forget to account for on their holidays. We understand that a holiday is meant for relaxing and enjoying yourself. However, it’s well worth bearing the following costs in mind, to make sure you come home well rested and without any financial concerns in the aftermath of your time away.
- Lots of additional food and drink at restaurants
- Withdrawing money from ATMs whilst abroad
- Airport parking costs
- Additional baggage
- Roaming charges
Our top tips to manage your holiday’s spends
Use travel forums to discover prices at your holiday destination
Take a look at what other travelers who have visited the same holiday destination as yours have to say about the cost of food, drink, transport and experiences, for example. You can use this information to work out roughly how much spending money you and your family will need on your travels.
Double check additional holiday features
It’s worthwhile making note of what your additional holiday features entail, such as baggage allowances and what is included in the type of board you have booked.
Check the maximum weight for baggage with your airline, as well as the size that your hand luggage needs to be. You could save yourself a fair bit of money by making sure you stick to the weight and size allowance.
Half-board and full-inclusive holidays are very popular with families, however, it’s best to double check what is included within your accommodation, as there could be certain limitations as to what’s involved in the price.
Make a rough plan of what you want to see and do on your trip
You probably have a few ideas of what you would like to do with your family on holiday, so make a note of anything you had in mind and calculate the cost of each of them. You should also look at the cost of traveling around on holiday, and whether a hire car or public transport will work out cheaper for you, based on your holiday plans.
From here, you can be realistic about whether or not you can afford everything and if not, cross off anything that you might have to give a miss. This will help prevent you from overspending, as well as giving you an excuse to return for another family holiday further down the line!
Set a budget and allow an additional 15% for emergencies
With a little research beforehand, you’ll be able to work out roughly how much money you should be taking away for you and your family to enjoy your time away together. On top of this, you should try to allow an additional 15% of your budget, in case of any hiccups along the way that might require a little extra cash.
Order your travel card through your icount prepaid card
One of the perks of being an icount customer is the Cashplus Euro and Dollar currency cards, some of the best-prepaid travel cards available exclusively to you. By loading your holiday spends onto these travel cards, you can be much stricter with yourself at sticking to your budget and your finances are kept much safer than if you were to use cash abroad.
Not only that, but you also have fantastic exchange rates available to you, as well as being able to take cash out at an ATM abroad, without the charges. Find out more about how you can get your own prepaid travel cash card.