How to get the most out of your summer holiday

Summer holidays are the best time to have fun and be productive, but like most Britons, you may feel that the summer is too short and too expensive. Inflation is predicted to reach 3% or higher by the end of this year[1], so during the summer you should try to spend your money and time wisely. We’ve compiled this short guide to help you decide how you could make the most of your time and money during the summer months.

How to make the most of your time

  • Instead of taking one long summer holiday, you could split it into shorter breaks, which can work out to be much cheaper and also more rewarding. In fact, in the past, psychologists have claimed that people who take their holiday allowance in bursts are happier than people who take their holiday all at once.[2]
  • You may have extra time on your hands during the summer, so why not learn something new? You could learn a new language in preparation for your holiday or trade some of your TV time to learn a new skill, which could be recreational or career building.
  • Book your holidays between the summer half-term and the long summer school breaks if you don’t have children to bring with you. There are a few golden weeks between 2nd June and the 17th July when kids in the UK are still at school before they break up for the summer. Book your holiday then to make the most of the quite time at your hotel and, potentially, cheaper prices.
  • Rediscover your garden this summer by doing new things in it with your friends and family. For example, you could rent a movie projector and pin a sheet over your fence or garage to host your own open air movie screening or you could host a picnic for your neighbours and play garden games.

How to make the most of your money         

  • Pick a habit to downsize now and use the money you’ve saved to book a holiday. Whether it’s a monthly video game purchase or a weekly pampering, by cutting out the treat, you could save enough cash over time to pay for a short break.
  • Use air miles that are offered by some credit cards to get cheap flights for your holidays.
  • The pound is currently very weak against the Euro and the dollar[3] so you should aim to get the best exchange rate to the get most for your money. Shop around well in advance of your departure to avoid getting your money exchanged at the airport, where rates tend to be much higher. To avoid the exchange rate you could also opt for a staycation or consider visiting a location where there’s a decent exchange rate.
  • Book hotels in advance for cheaper deals. A study from Trip Advisor found that the best time to book your hotel for a city break is within 2 months before your arrival. While with long haul flights to places like Cancun and Sydney, you should book hotels 3 months and 4 months in advance respectively.[4]
  • Switch on private browsing when you’re looking for holiday deals. Travel agents use cookies to hike up prices for holidays based on your browsing history, make sure you’ve turned off your internet cookies to avoid paying more for your holiday.

If you’re still worried you won’t have enough spending money for your summer break, you could use our credit card matcher or loans matcher, which will use your credit score and report to match you with the perfect card (which often come with a degree of purchase protection) or loan for your trip.

Noddle is a credit broker, not a lender

 

 

 

[1] Inflation and wages figures to underline Brexit strain on Britons https://www.theguardian.com/business/2017/apr/10/inflation-and-wage-figures-to-underline-brexit-strain-on-britons

[2] Short breaks make people happier than one long holiday, psychologists claim http://www.telegraph.co.uk/travel/travelnews/7946668/Short-breaks-make-people-happier-than-one-long-holiday-psychologists-claim.html

[3] 2017 Pound Sterling Euro Exchange Rate Flat https://www.euroexchangeratenews.co.uk/2017-pound-sterling-euro-boe-bets-24289

[4]  This is the best time to book your next holiday  http://www.cosmopolitan.com/uk/entertainment/travel/a9233776/best-time-to-book-holiday/