Save money over the summer

The long summer break is looming – with at least six weeks freedom from school for the kids, but a headache for parents ahead. However, there are ways to make it less of a strain on your pocket whether you’re home or away.



For instance, think about how to save money when you’re on holiday. You’ve booked the flights and the accommodation. You’ve even bought the new swimsuit and the sunscreen. But have you taken out holiday insurance? As more people these days make their own travel arrangements these days rather than buying a packaged holiday, it’s all too easy to forget to buy cover.



Travel insurance isn’t expensive and it’s a false economy to attempt to do without it. The best policies will cover you for independent holidays either as standard or as an option. Ideally, you should buy travel insurance as soon as you pay for your break – but better late than never. If you’re planning several trips this year, consider annual cover: it may end up cheaper than buying single trip policies.

With your trip looming, you now need to sort out your holiday cash. Depending on when you’re going, you may have time to get a new credit card. If you’re just going to use it for emergencies or if you’re always going to pay the balance off in full, you want a card which gives you rewards each time you spend on it.



Do watch out when you’re paying for goods or services abroad with a card. You might be offered the opportunity to pay in sterling rather than local currency: this is a bad idea (it’s technically known as dynamic currency conversion) because the exchange rate will be worse than what is applied by your card operator.



Wherever you’re going, you’ll need local currency, if only to pay for a cab from the airport. Monitor rates before you buy and don’t wait until you’re at your departure airport. When you draw money abroad from an ATM, keep your wits about you: don’t take out far more than you need because you’re flummoxed by the exchange rates. Carry a card so you know, for example, that 50 Euros is the equivalent of roughly £44.



Take care when you’re abroad, and don’t let crime ruin your holiday. Lock your passport in a hotel safe, if possible, and never leave your belongings out of your sight. Keep a separate list of emergency numbers - such as for your credit card and your premium travel insurance details - and leave it in your room. And make sure your home is safe when you’re away: if you have an alarm then set it. Lock up properly: if you’re burgled and you haven’t done so your insurer may not pay up. Ask a neighbour to keep an eye on your home and make sure there are no obvious signs you’re away – such as your post sticking out of the letterbox.



However, even if you’re staying at home, this can be just as expensive as being abroad. If you’re out and about with the kids, then save money by booking travel tickets in advance and search the internet for deals on attractions. Take packed lunches and give the children a small amount of spending money rather than giving in to pester power in the gift shop. And find out if your local council has free – or cheap – activities for children.



The author of this article is a part of a digital blogging team who work with brands like M&S Money. The content contained in this article is for information purposes only and should not be used to make any financial decisions.