How to budget for your summer holidays

We all need a break sometimes. The trouble is that the cost can seem prohibitive. Fortunately, there are several simple ways to tighten your belt and maximise your spending power to ensure you have a few pennies stashed away when the time comes to soak up some sunshine.

Woolacombe beach, North Devon, Britain - Aug 2011

Woolacombe beach, North Devon, Britain - Aug 2011

Make a holiday plan

We’re talking about a serious route map to bargain travel here. Make the most of comparison tools like Skyscanner, or Hipmunk to find the cheapest travel and accommodation around; if you’re feeling adventurous, you might want to consider unconventional, and often cheaper, alternatives like Airbnb.

Find freebies

There are free activities and events all summer around the world. Once you’ve found your ideal destination, see what you can find nearby. You might even consider timing your trip to coincide with local festivals or traditional celebrations.

Get an overview of your spending

Break down your monthly spending on food, travel, accommodation and bills. If that seems like a big task, use a helpful online tool like this one from the Money Advice Servicethis one from Money Saving Expert or even an automated one like Money Dashboard. Experiment to see which suits you best.

See where you can save

The devil’s in the detail. Check your grocery receipts to see if you can switch to cheaper brands, cut down wasted food or give up a luxury for a month.

Compare providers

There’s a huge range of comparison services out there, and they exist to find you the best deal on everything from your mobile phone to your gas bill. If you haven’t shopped around for a while, try it: your holiday fund might get a boost.

Sell some stuff

One man’s rubbish is another man’s treasure. At least that’s how we think the phrase goes. If you’ve accumulated ‘clutter’, check whether you can shift it for a last-minute boost to your holiday budget. Electronics, DVDs, CDs and books can all be sold quickly, with minimal fuss via dedicated sites like MusicMagpie and Zapper, online marketplaces like Gumtree and eBay, or even good, old-fashioned car boot sales.

If you’re struggling with debt, or have been contact by Dukes Bailiffs about an outstanding debt, get in touch with us today for advice and assistance.