5 Ways to Save Money for a Family Holiday

Are you long overdue a family holiday? Even if it's just a weekend camping trip, staycation or you have dreams of long haul destinations it can be hard if you don't have some kind of budgeting plan in place especially if you have children. Life in general can be so busy, hectic and draining finically but it's also really important to step away from it all every now and then so having a travel kitty you can contribute towards to during the year is key and really will add up over a period of time and take the stress off planning a trip away. I thought I would share 5 easy ways to help save for that family holiday so do check it out even if you have already paid for most of it in advance it's always good to have some extra spending money. If you already know where your going check out my other post about how preparation and booking at the right time can save you loads.


1. Declutter and Ebay what you don't need

I often do this before we are going away somewhere. I am constantly minimising what we don't need in the home and I often do a big drop off at a local charity store and what I can Ebay or put on Gumtree I do because it can really add up and it's a great way to declutter your home but also make a little bit of extra money to go towards any family travels we have planned.

2. Reevaluated any memberships or subscriptions you have

Review any memberships, subscriptions or services you're paying for to see which you could do without. Remember that you may only need to suspend these luxuries for a few months to pad your savings account. You could drop a gym membership, for example, in exchange for running and other free exercises you can do at home or at local parks such as yoga. Review your TV provider and package - you maybe able to reduce it down to a basic package and add a cheaper streaming service instead, an easy swap but will save you money monthly. Also, you could check to see if you're paying any unnecessary fees on your student loan and if you're thinking of taking one out then I recommend checking SoFi which has no late fees or insufficient fund fees which is great.

3. Stop Eating out 

Buying groceries and cooking at home, especially if you have a family, can literally save you hundreds of pounds. If you enjoy eating our regularly you may initially find this hard or tedious but its a great way to save money as well as eat a little healthier and why not get the kids involved with the cookie. Also, try to cut morning coffee from coffee shops and cafes from your morning routine and rather brew your own at home.

Make eating at home fun

4. Trim Other Monthly Expenses

Expand your budget trimming to your other monthly expenses as well. For instance, you could dial back your central heating now we are going into summer and if you can adjust the temperature by a few degrees a day you'll save 10% on your energy bill in one year. Combine this with other utility-conscious adjustments, like taking colder showers and using less water, and you can reward yourself with more money to spend on your adventures.

Also, if you have debt, you can look into refinancing options to lower what you owe each month or taking out an interest free credit card and transferring your current balance which could provide you a breather. You could also consider student loan consolidation which can be an excellent money-saving option if you have multiple student loans with different interest rates. By refinancing your student loans, you can bundle these expenses, leaving you with a lower interest rate overall.


5. Use Your Credit Card to Accumulate Travel Points

If you have a credit card with cashback rewards, use it wisely to accumulate points that can be redeemed for airfare. Whatever purchases you have to make, put them on the credit card. This is like earning free money. Just remember to pay off the balance completely every month so you don't accumulate debt.

If you have six months to a year to prepare, you could save thousands of pounds for your holiday by following these and other money-saving tips. Though you might have to make a few short-term changes, you can look forward to a trip you've earned by being frugal.

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