How do we avoid blowing our budget over the holidays?

4 tips to help you avoid blowing your budget during the holidays

Holidays are a time for family bonding, delicious food (and perhaps a little much of it), making memories, playing games, taking family photos… And of course, spending your hard-earned cash to make all this happen.

To help you avoid returning home to a financially sticky situation, these 4 tips will steer you in the right direction.

Tip 1: Create a plan for your holiday spending

You don’t have to give up on all the fun and food just because you’re on a budget. This tip is simply about setting limits on what you can spend while you’re vacaying with your family so that you have enough left for when you get home and have to return to normal life.

Look at your money for the month and set aside funds for things that you’ll need to pay for when the holiday is over, including debit orders, milk and bread, and petrol money to get home. You’ll have way more fun knowing that your homecoming is financially sorted.

Tip 2: Find free holiday fun

Let’s be real. Family fun can cost quite a bit, so it’s worth spending a few hours on the Internet before you leave, researching free things or low-cost activities in or near your holiday destination. You’ll be surprised at just how many options you can come up with that will help you spend time with your loved ones without breaking the bank.

Tip 3: Share the costs where possible

It can be a bit awkward when 1 family member or family unit is footing the bill for all the food, accommodation, and entertainment. Even if it’s just in 1 of these areas, it can be pretty darn expensive.

There are ways around this. The first step is to be upfront with everyone about the budget for the holiday and to make it clear how much everyone should contribute. If necessary, keep all the slips so that you can make sure it was all fair and even. This way, no one can say that they didn’t know or ‘forget’ to pay you back when the holiday is over.

Tip 4: Don’t forget about the bargains

Sales aren’t limited to the festive season… You can find a good bargain any time of the year if you whip out the old computer and scour the Internet for decently priced accommodation, activities, restaurant deals, and grocery specials.

This might also be the perfect time to look at how you can reduce your costs and give your budget more room for the fun. Car insurance is a good place to start, because you can literally stop your existing cover at the end of the month and have your new policy active within the same day.

It’s important to shop around and get quotes from top insurers, like King Price, so you can get the best price for your requirements. With King Price, you can choose from basic cover to their 5 star comprehensive option. What’s more, if you choose their comprehensive car insurance, your premiums will decrease every month in line with the depreciating value of your car, and you get roadside assist at no extra cost to help you out of a tough spot on the road… Like an engine or mechanical failure. Now, that can put a real damper on your holiday spirit.

If you want to get cover for the first time or are considering changing your insurance to King Price, click here for a quote, call their sales team on 0860 50 50 50, or send an email to king@kingprice.co.za