How to Afford a Holiday

how to afford a holiday

Holiday season is almost upon us, and so soon after the particularly discomforting winter weather of early 2023. While the prospect of a well-earned trip with family or friends should be sparking joy in people’s minds, it is more likely a source of consternation at the moment.

The cost-of-living crisis has been difficult for many households, and a combination of rising household costs and rises to holiday costs may have priced many out of their summer. However, there are ways and means of rendering a summer holiday affordable! What are they?

Start Saving

Quite simply, the best way to approach making your holiday affordable is to save more money. This is a simple point, and one much easier said than done – but with full attention and concerted effort, you may be able to find new and effective ways to increase your savings.

If you don’t already have a savings account, you should open one as a matter of priority. Current accounts are fine for holding money, but do not work hard enough to grow holdings; savings accounts give more in the form of higher interest rates. Depending on the savings account, you may be able to guarantee a certain return in exchange for limited access.

Starting an account is half the battle; the other half is filling it. This is a process that works better if automated, with a pre-set amount each month sent to your savings via standing order. Doing this means you can more easily calculate what you’re saving and eliminate the possibility of accidentally – or purposefully – skipping a savings transfer one month. Through this, you’ll achieve a holiday spends goal much quicker.

Get Search-Savvy

Saving money is just one part of a larger equation and may not always be possible to the extent that a holiday is rendered affordable. As such, you shouldn’t get complacent when booking flights or accommodation. There are always ways to find cheaper deals, whether on comparison sites or through holiday deals mailing lists. Last-minute deals are common and can make five-star experiences much more affordable!

Moderate Your Expectations – and Embrace Change

Being open to last-minute deals and changes means being open to change, and also being able to moderate your expectations. It may be a simple fact of the matter that your budget will not stretch to afford you your dream holiday, in which case you’ll need to be happy with making concessions.

These concessions may be small, such as the downgrading of your accommodation plans to something a little more austere. They might require you to rethink your plans altogether. Where money is well and truly tight, there are myriad inexpensive holiday options and opportunities right here in the UK. A staycation might not seem as glamorous as a week of sun and sea, but there are so many glamorous options and glorious places, many of which cost practically nothing to visit.

Nicole Middleton
Nicole calls herself a typical millennial girl and thrives on her share of social media, celebrity gossip, and all things viral content. She’s a big fan of pop music and plays the guitar as a hobby.