Summer holidays are often a time of relaxation and fun for families, but they can also be a source of financial strain. With expenses such as travel, entertainment, and childcare, many parents find themselves struggling to make ends meet while still enjoying quality time with their children. However, with some planning and budgeting, it is possible to have a memorable and enjoyable summer break without breaking the bank.
Let’s explore seven effective strategies to help you save money this summer so you can enjoy the holidays with your family without going over budget.
1. Plan ahead and create a budget
Start by using our free Budget Planner to assess your monthly income and expenses. This tool puts you in control of your household spending and analyses your results, helping you manage your money effectively — it’s already helped hundreds of thousands of people. Allocate a portion of your budget specifically for holiday expenses and be realistic about what you can afford.
To keep your holiday budget intact, consider loading a prepaid debit card, or using savings accounts or cash envelopes to manage your spending.
2. Look for discounts and deals when booking a holiday
When planning your holiday, do some research and take advantage of available discounts or deals. Camping is a popular choice for those seeking a budget-friendly staycation. Compare campsite prices and read reviews to ensure you’re getting the best deal. Some campsites offer discounts for booking in advance or during off-peak times, so it’s always a good idea to check if there are any promotions available. Consider choosing campsites away from tourist hotspots to save money.
House swapping offers an affordable option for those seeking a UK holiday. By swapping homes with a fellow traveller, you can enjoy the best of both worlds — a new place to explore with minimal expenses. Websites such as Home Exchange cater to house swappers, allowing you to find suitable matches for you and your family.
If last-minute travel is an option, it can be possible to secure a deal or negotiate a reduced fee on self-catering holiday accommodation. Try messaging the owner through Airbnb to ask if they can drop the price or if they have any dates they need to fill. Travelling in a larger group with family or friends can reduce accommodation costs per person. Pooling resources can also lower expenses for travel and food.
3. Explore discounted, low-cost or free activities
Booking activities in advance can help you secure cheaper rates and avoid last-minute price hikes. Check the attraction’s website and see if some days are cheaper than others before deciding when to go.
Tesco Clubcard vouchers can be exchanged for days out – including zoos, theme parks and aquariums throughout the UK. Another option to explore is Kidspass, which offers discounts on a wide number of attractions, activities and even meals out. A 30-day membership only costs £1, although remember to cancel if you don’t want to continue to pay their membership fees.
Explore free or low-cost activities in your area. Visit local parks, beaches, or nature reserves, where you can enjoy outdoor activities such as hiking, swimming or picnics. Look for free or low-cost festivals or cultural events in your community. Most council websites will have a page that lists local events. Follow Instagram feeds or Facebook pages that explore family days out in your area.
Take advantage of your local library to borrow books, movies, and magazines. Many libraries run a reading challenge over summer to encourage children to read and review their books to attain a reward.
With the Olympics being on this summer, you could encourage your children to participate in a new sport or organise a family games event at home. Kellogg’s is running a football camp promotion, offering children aged 5-15 a free day at a Kellogg’s Football Camp.
4. Pack a picnic!
Instead of dining out at restaurants regularly during your holiday, consider taking your own. Preparing meals at home. Packing sandwiches, salads, and drinks for a picnic can save you a significant amount of money – and kids often prefer it!
If eating out or enjoying a takeaway is something you enjoy doing as a family, there are still ways to save money. Some restaurants offer early bird or set menus if you eat at lunchtime or before the evening rush. Others have loyalty schemes that give you free food or drinks. Search for discounts or promotions on Uber Eats or Deliveroo before placing your order.
Consider using coupons or loyalty programs to save money on your food shop. Some supermarkets will offer a discount off a first order while others have apps that give you rewards for shopping with them.
5. Find more affordable childcare
To save on summer school programs or camps, booking by the week often offers a discount compared to daily rates. Sibling discounts are sometimes available too. If you are booking a summer programme, check if the company is a registered tax-free childcare provider or if they accept childcare vouchers. If you are eligible and the provider is registered, this can mean a 20% reduction in the fees you pay. Discover more information on government help with childcare costs here.
Other options to reduce costs include sharing childcare responsibilities with a friend – taking turns to look after each other’s children for the day. Try to make childcare plans in advance. Family members might be happy to help out if they are given enough notice.
6. Minimise splurges
While it’s important to enjoy yourself and make lasting memories, it’s also important to avoid unnecessary splurges. Limit the number of souvenirs you purchase – creating a collage of printed photos can be a better and cheaper way to remember a day out or trip. To avoid impulse purchases, make a list of items you truly need or will use. Avoiding shopping as a form of entertainment and unsubscribing from marketing emails can also reduce the temptation to spend.
If you’re looking forward to treating your children to something special this summer, it’s a good idea to make a shopping list before you head out. Even better, why not set a budget for those treats before summer kicks off? That way, you’ll be all set to enjoy the fun without any financial surprises.
7. Lend and borrow
Community groups can be an amazing way to save money! By joining a local WhatsApp or social media group, families can borrow and lend things like camping gear, bicycles, and gardening tools, reducing the need to purchase these new. Freecycle can also be a fantastic resource – and by giving items a new home, you’re doing the planet some good too!
Save over summer with GMBCU
By following these tips and tricks, save money while enjoying the summer holidays. Remember, budget-friendly doesn’t have to mean sacrificing quality or fun. By being strategic and careful with your finances, you can still create memorable experiences without breaking the bank.
GMBCU offers members a wide range of savings options – perfect for families that can save money over the summer. Our revamped savings account provides a win-win. Enjoy summer while saving and put some money aside for the future too!