5 tips keeping your summer holiday affordable

Read our tips and tricks that can help you keep your summer holiday affordable without sacrificing the fun.

Spring is springing, the days are getting longer, and you may be thinking about planning your Summer holidays.

However, we know that the cost-of-living has driven up prices everywhere, and wages haven’t caught up yet. So, if you're still looking to get away this Summer without breaking the bank, our 5 tips and tricks can help you keep your summer holiday affordable without sacrificing the fun.Book in advanceWhile it’s tempting to wait around for a last-minute deal, it’s always better to book your holiday in advance. This way, you can spend plenty of time researching best dates, flights, hotels, and the activities you'll do when you arrive.

Also, experts say, there’s evidence that you save money by flying on certain days instead of others, with Tuesdays in general being the cheapest. Use Skyscanner’s new tool to help you plan which days you fly.Book directly and book online.As is the case with most major purchases, using comparison sites can help you quickly find and compare the cheapest and best deals – for hotels, flights, etc. But once you’ve found the one you want, it’s often cheaper to book directly with the company. This way you skip the cost of any extra fees that cover the comparison site’s margins. It also pays to book online rather that visiting a high street provider (but we still encourage you to support your local high street wherever possible!)

Spread the costSpreading the cost of a big purchase is a solution many people opt for. There’s been huge growth in “Buy Now Pay Later” in recent years, but despite the 0% interest, it can cause more harm than good.

BNPL is unregulated so far, so there’s no assessment of a person’s ability to pay. And so, it’s a slippery slope to stack up multiple repayments, lose track and then be hit with costly late fees, which can quickly lead to a bad credit report.

GWCU offers a more sustainable way to borrow, especially if your employer is a partner in our Money@Work service, which offers discounted loan rates and stress-free repayments automatically through your payroll.

With GWCU, you can borrow sustainably to cover your holiday and feel safe that the repayments won’t come back to bite you.

Watch out for big events!We know that once school’s out, prices jump, which grinds the gears of every parent. But another driver of high prices for accommodation are major events, which see every hotel and boarding house packed out to the rafters. So double check the local listings for the area you’re visiting – or maybe you’ll want to join in!

Buy your currency on the high street

Well worth remembering, we don’t completely live in cashless economy yet, and thankfully many countries haven’t shifted as far away from cash as the UK. But the bureau du change at the airport will almost certainly give you a worse rate, and a bigger margin for them, than the local exchange on your high street. Just remember to take the trip, and never carry more on you than your travel insurance covers!

Wherever you go, holiday or staycation, we hope you find plans for some brilliant summer holidays that are affordable and joyful.

And whether you’re using GWCU savings to save up for your holiday pot, or get an affordable loan to spread the costs, we’ll be here to support you.

Published by
Posted on
29 April 2024