Top 5 Ways to Reduce the Cost of Your Holiday

The Summer holiday season is now in full swing which of course means that holiday operators are upping their prices once more, hitting the pockets of hard working families.

However, there are things that you can do to bring down the cost of your annual family break during the school holidays to ensure that you can make the most of your time together without breaking the bank.

Here are our top 5 tips for reducing the cost of summer holidays:

Why Not Stay in the UK?

Many of us are guilty of taking for granted what is on our very own doorstep. The UK is blessed with countless Areas of Outstanding Natural Beauty, historic structures and family friendly attractions. Quite frankly, there is something for everyone in Britain; regardless of your age, interest or gender.

With all of this on offer, it will perhaps come as no surprise that 57% of Brits are set to stay on home soil in 2018 according to The Express. Not only does this mean that you avoid dealing with unfavourable exchange rates, but you also don’t have to go through the stresses associated with airports on top of the accompany costs.

Buy a Holiday Home

With more and more Brit’s choosing to stay in the UK, the natural progression from this is to buy your very own holiday home in the country.

Luxury holiday park operator Darwin Escapes recently claimed that the average family would spend £1.75 per hour for a two week break in a 3 star hotel in Majorca during August. By comparison, holiday home ownership when split out over a ten year period (which is the time over which a new holiday home warranty will typically last) can cost the same family just 50p per hour!

This is certainly a long term investment, but low interest rates ensure that there are now very affordable repayment plans available if you are looking to fund a holiday home purchase at the present time.

The Cost of Activities

It is often the cost of excursions which proves to be the largest expenditure for families during their summer holidays. It is therefore a prime area for consideration when you are looking to cut the cost of your holiday.

A great way of reducing this expenditure is to stay on a holiday park which offers free activities and entertainment as part of the package.

Be warned though that not all holiday parks will provide this as part of the deal, charging extra for participation. It is therefore recommended that you check this prior to making your booking.

Food for Thought

Food can be a significant expenditure when you go on holiday, particularly for the average family. Most hotel providers offer full or half board options which saves you the expense of paying sky high restaurant prices every meal time throughout the duration of your break.

However, an even more cost effective option would be to opt for self-catered accommodation; enabling you to nip to the local supermarket and pay no more for food than you ordinarily would when at home. You will of course then always have the option of dining out in a local restaurant, but this is by no means necessary which could be a significant money saver.

Be Careful with Your Cash

The value of the pound is falling and is now at its lowest rate against the dollar in almost a year. This is bad news for anyone in the UK who is planning on venturing abroad this summer season.

Money Saving Expert reports that cash is still the most common method that UK residents under the age of 34 use to pay for things whilst abroad, so this is sure to hit the pockets of many of you planning a summer trip in 2018.

The best advice when it comes to dealing with this situation is to shop around using online comparison websites to find the best exchange rates available. Plan ahead and avoid buying cash at the airport where you are likely to be taken advantage of. TravelSuperMarket reports that this can shave as much as 10% off your overall holiday expenditure.