Family Budgeting for a Dream Holiday

The following is a guest post for our UK readers.

With Christmas and New Year well behind you, it’s time to start planning for that all-important summer holiday. A family trip can be an expensive adventure, especially in the current climate of economic uncertainty. But price doesn’t have to be a limiting factor when you want to take your family away somewhere special. There are some great ways to budget so that you can put money aside and save for your dream summer holiday.

Orlando is a fantastic destination when you’re going away with the family. With Universal Studios, Walt Disney World Resort and Sea World Orlando drawing in huge crowds year in year out, this central-Florida state is a real hub for family fun. It can, however, prove to be an expensive outing for the average family of four when you consider flights, hotels and park passes. However, it’s not that difficult to find cheap holiday packages to Orlando with a brief online search or a quick chat with a travel agent.

Even with this taken into account, you may still need to tighten your belts to save before you go away. In the months before you leave, really think about what you need to pay for at home. You can cut down on things like clothes, entertainment and eating out with relative ease, putting all the money you save towards your holiday spending money.

Amidst rising food prices, you might be worried about cutting your food budget. Reports suggest that the average grocery bill for families in the UK ranges from £70-100 per week. But it is possible to feed a family of four for just £50 a week, and it doesn’t have to be unhealthy! Many supermarkets offer a good quality vs value range, with everything from fruit and vegetables to fresh meat being offered. The key to sticking to a tight budget is forward planning. You have to go to the supermarket with a week’s worth of meals already itemized for purchase. It might be a good idea to write a list and take it with you, or to leave your bank card at home and pay only with cash, cutting out the temptation to go over budget. You’ll also have to avoid being swayed by your kid’s pleas for sweets and treats. If they’re being difficult about it, just remind them of how much fun they’re going to be having on their holiday in a few months time!

You might decide to put the money that you’re saving into a high interest, hard-to-access account, so that you aren’t tempted to splurge when you get the chance. You can set up a standing order from your normal bank account to have some of your pay at the end of each month be paid into this account so there’s a regular amount going in.

Perhaps smokers might see their upcoming holiday as a good reason to quit. If you smoke 40 cigarettes a week, with each box of 20 costing around £7.50, you could save £15 per week. 20 weeks from now takes us up to the middle of July. That’s a saving of £300, which could make up a massive chunk of your spending money!

You can find some great help online, with budgeting tools and spending trackers to keep an eye on how your outgoings reflect on your income. None of these tips are difficult to carry out, provided you have the willpower to start. Your dream holiday can come true if you’re willing to put in an extra little bit of effort. Imagine the kids’ faces lighting up when you tell them that all their help with saving has gone towards a magical trip to Orlando!

This post was contributed by Deal Checker.