Financial Tips for Summer Holidays

Now the clocks have advanced and we are in the spring, our thoughts can also resort to escape some sun instead of having to endure another disappointing British summer!

Despite the latest security threats and reports on long-term damage to the environment, the desire to get away from is stronger than ever with us taking an average of 1.6 vacations per year (according to The Times 2006 ). It is not just the frequency with which we move away, which puts us under increasing financial pressure, but also the growing tendency to take the “holiday dream” every year.

According to a Halifax poll, 20% of respondents said they were likely to make a dream trip with no special reason more than half prepared to spend between £ 1000 and £ 5000 per person during these holidays.

It is clear, then, that these happy days of sun, sea and sand have a price beyond the widely discussed environmental cost. The annual vacation is perceived almost as being given with more of us spending large amounts on luxurious travel abroad just to “follow the neighbors.” Two or even three year holidays in Europe and the Caribbean are now considered normative with £ 74 billion in vacation and spending in 2006, according to Axa.

The pressure on exceeding holidays is intense and today, people do not believe it to charge a vacation in the United States or Australia for a credit card. The problem begins when the holidays are over and credit card bills begin dreading to land on the carpet! It is only then that people realize that they have gone beyond their possibilities and that the “holiday hangover” begins to settle.

Tips to Avoid Holiday Hangover:

Or Set a Limit – Think about how much you can actually pay before you decide where you are going and, more importantly, where the money will come from. Note the budget!
Or start saving – save money every month before the holidays – remember that most companies packages require that the balance be paid up to 12 weeks before departure. Try to put the same amount and deposit the funds into a separate bank account to avoid the temptation to spend.
Or Start buying early – buy holiday essentials little and often. Enjoy special offers and avoid the “rush” period. Essential holidays are often cheaper after the last vacation, and then start shopping for the following year.
O Make use of the offers – When booking the holidays, take advantage of early booking incentives or make an offer when booking a late package. Watch out for free kids and be sure to get quotes from several different sources to see if you can recover the price.