We usually go on family holidays twice a year. Often we get questioned how we can afford to do all this travelling. In truth it is probably just a matter of priority. Many people say they can never afford to go on a family holiday. Travel itself doesn’t have to be expensive. Our secret is to save money and travel smart.
Here are 7 Best Tips to Save Money for your next family holiday:
1. Watch your recurring Expenses
This is by far the most important tip! Try tracking your family’s recurring expenses over a period of one month to see what areas you can easily cut back on. For us, we limit spending on mobile phones and car expenses.
By delaying mobile phone upgrades or going with a cheaper alternative, you will save thousands during the course of a year. For example we are currently on SIM only mobile phone plans (even though we are eligible for phone upgrades). By delaying upgrades and sticking with our perfectly fine older model phones, we are saving $100/month which equals $1,200/year. Next time you see that advert for a $80/month phone plan, look at it as what it really is, a $1,920 two year commitment.
Also Alfred used to drive a new model European car which cost thousands every year to service and maintain. Sick of the expensive upkeep, we chose to trade it in for a more economical car. Money we saved from mobile phones and one car alone can pay for a once a year European family holiday!
Stop recurring expenses you can easily give up. This include money spent on snacks, clothes, home phone line, pay TV subscriptions, movies, dining out and coffee. Hmmm maybe not coffee, parenting is challenging enough with coffee!
2. Travel to countries where your dollar goes furthest
Believe it or not we don’t typically choose our next family holiday destination. Instead we let it reveal itself based on favourable currency rates. Never underestimate the relief of not having to constantly doing currency conversions in your head because you are worried that everything is too expensive. Avoid following friends to this years’ must visit destinations. Instead stick to places you can afford.
Another bonus is that you will likely end up visiting countries you may not have even considered visiting before. In the past seven years we visited destinations such as Vietnam, Cambodia, India, China, Japan, USA, Spain, Portugal, Turkey, Germany and even the traditionally pricey London (twice) simply because the currency rates was favourable. Any savings we make, we usually set aside for the next trip.
3. Subscribe to Airline Newsletters
“But the airfares are too expensive” – absolutely true if you go during holiday and high seasons. In reality there are incredible deals happening all the time. The simplest way to save money and keep on tab of great flight deals is to subscribe directly to airline’s newsletter. By subscribing, you will have great flight deals automatically sent to your inbox.
Right after getting discount alerts sent to you, compare it with prices from a local travel agent. Yes, travel agents can still save you money especially for multi city stop holidays. Good websites such as Skyscanner can also help you see all available airline deals in your travel route. Timing of cheap deals will vary depending on destinations.
4. Visit travel Expos
We regularly attend travel expos to look out for holiday destination ideas and travel deals. There are usually a few travel expos organised throughout the year based on destinations. The local travel expo we usually go to is usually held in early February.
5. Get a simple Credit Card
We have one with zero annual fees, offering free foreign transactions, and has a simple cash back rewards scheme. Don’t be swept away by the allure of points without considering the realities. A credit card is just a tool, not a miracle solution for free family holidays. Read more here.
6. Join a Frequent Flyer program
Join as many airline frequent flyer programs you like as they cost nothing. If you just happen to accumulate enough points, you will get discounted or even free tickets. We used our accumulated points with Singapore Airlines to get $250 discount per person for our Germany trip. You may even get bonus perks such as airport lounge access which is useful for travelling families. Do not however, blindly book your future family holidays with a particular airline just because you want to accumulate points.
7. Book flights and accommodation around the same time
Before booking your flights, at least have some rough idea as to how much accommodation will cost per night. Don’t get caught buying cheap flight tickets and only later realising hotel prices are through the roof! Currently for us a good example of this is: Singapore. We have wanted to revisit Singapore as there are cheap flights readily available. But comfortable hotels tend to be expensive. So for us Singapore is on hold for now.
Before making any bookings, don’t forget to try and adjust your travel dates. Even one day can make a huge difference. For example it is traditionally cheaper to fly mid week rather than on a weekend. Hotels are also likely to charge more on the weekends. So it pays to not start your holiday leave on a Friday.
Booking.com is a great booking site. You have the ability to book in advance without paying deposit. If you find a better deal closer to your travel date, simply cancel and rebook the better accommodation. Don’t simply ask friends where they stayed. Your preferences and budget can be totally different.
