Don't miss out this summer because of a lack of funds.
With summer fast approaching, the number of idyllic yet pricey holidays or trips away on offer can be overwhelming. Budgeting your money in order to save for that summer getaway can be daunting, especially in the current climate of overpriced airline baggage fees. However, it doesn’t have to be.
Here are five simple and easy tips for saving a little bit of cash for that much-needed holiday this summer:
1. Plan your meals during the week and freeze any leftovers
As well as producing less food waste, planning meals is a good way of keeping on top of your spending each week. Allocating daily meals is a useful way of cutting out money spent on unused items. It means that you can be more efficient with your money and only buy the food that you really need, allowing for a tighter budget, less wasted food and a little more money in the bank.
2. Pay for things with cash rather than with a credit or debit card
The birth of contactless and smartphone payments has meant that it is now easier than ever to pay for things by card. However, in terms of saving, using cash is a better alternative when you are looking to balance the budget. With notes and coins, it is easier to keep on top of the exact amount you have spent and helps make your money go that little bit further.
3. Bring a packed lunch from home instead of buying lunch out
While appetising meal-deals may be difficult to resist, in the long run, a packed lunch is far cheaper. Making a sandwich, salad or an alternative lunchtime dish at home costs a lot less than their shop-bought equivalents and help to create that little bit of extra cash towards your summer ventures instead.
4. Keep track of your spending
Apps like Where’s My Money or OnTrees provide an easy way of tracking how much you’re spending and what it is you are spending your money on. By recognising your spending habits, it is easier to plan ahead and to make small savings when and where you can. Alternatively, if an app isn’t the way for you, perhaps a trusty spreadsheet would be a better option. By budgeting your spending, you will be able to make small yet significant savings which can be put towards holidays and activities in the summer.
5. Put aside some money each month towards your summer spending
If you know you have something planned for the summer which will require a bit of extra cash, why not earmark a little bit each month which will go towards your holiday ventures? Even if you don’t have anything planned, it’s a good idea to build up a small surplus which can go towards that fun day out, that summer BBQ with friends, or even that extra G&T at the pub. It doesn’t need to be a massive amount, but it could make a big difference when it comes to your summer spending.