Please welcome Fiona and Joe from Budget Breakaway! Contact me if you would like to guest post on RFI.
The worst time to plan your holiday is when you NEED a holiday!
When you NEED a holiday your searching patterns are like budget parasites, eating away at your hard earned savings. You rush to the travel agents rather than grabbing your backpackers’ tent and compass. Creativity and adventure goes amiss while you search for the hottest island with the biggest pool. A common symptom of this is you’ll find yourself saying:
- “Honey I know this hotel is an extra £200 BUT it has a lift that goes down to the beach!”
- “We’ll go all-inclusive because… we deserve it!”
We were in this situation back in June when we rushed off to Tenerife; we had just finished our final exams and needed to get away. We had the most amazing time, ate the most amazing food and even got to have dinner above the clouds at the Parador de Canadas hotel on mount Teide! But after all the excitement was over and we touched down in England it took a good couple of months to rebuild our finances again.
This time we are raring to go on an adventure but are looking to extend our vacation for much longer and do it for even cheaper! We are planning to travel across Europe for a couple of weeks on a budget! Here are our top tips for saving money to make that holiday last longer!
Set Two Budgets
- Set one budget for ‘Travel and Accommodation’; this includes flights, hotels, trains or hostels. Often you will book these in advance so set a budget before you get drawn into something on a holiday site that is way out of your budget!
- Your other budget should be for ‘Holiday Spending’; this will include food, drinks excursions and don’t forget gifts for the family! If you give yourself a set amount to spend each day you might surprise yourself; you could find yourself cycling around an island rather than spending all of your money on lobster!
Start Saving Early
If you plan plenty of time before your holiday you can pull together a real accurate idea of how much your trip will cost. It will also give you an incentive to save whilst you are working. If you give yourself lots of planning time you will likely find lots more activities to do and places to see. A good rule of thumb whilst you are on holiday is to think about the time value of your money; if that cocktail would cost you two hours of work at home, is it worth it?
Ration Your Eating Out
The most frequent budget biter on holidays is eating out; it’s commonplace to eat out every night when you’re on holiday. So how do we stop the spending but still enjoy the holiday? Get creative! Browse a local supermarket and have a picnic by a beautiful view. If you give yourself a ration of how many times you are allowed to eat out on your break, you’ll certainly find some interesting food and pick up some great stories along the way. If you’re staying in a hotel check the cost of half board or all-inclusive deals; occasionally it’s worth the extra cash if you’ll be staying there a while.
Thanks for reading our post! It’d be great if you could stop by Budget Breakaway sometime. Follow us on Twitter too @BudgetBreakaway