7 tips for holidays on a budget

1. Plan ahead

It’s always a good idea to plan ahead. But in COVID times, planning takes on new importance. As we’ve seen, the situation can change quickly with restrictions and border closures.

Consider:

• Not just where do you want to go, but where can you go? • Which places are most popular? (You can stretch your budget further and support local businesses by going somewhere quieter) • Do you need to quarantine at your destination or on your return? Or both?

Or get stuck in a “bubble” change? (If so, that adds to your costs and the amount of leave you will need) • Do you have a back-up destination in mind? Planning ahead could save you a small fortune and help avoid your relaxing getaway becoming a stressful nightmare.

If you’re like me, you’ll be itching to travel again once borders reopen! But don’t let your next holiday break the bank…Holidays are meant to be fun and relaxing. However, if you blow your budget, you end up more stressed than before you left. What a waste! Follow these tips for holidays on a budget to avoid coming home to a nasty debt pile: 2. Book in advance

This is another reason planning is so valuable – you can book ahead and lock in cheaper rates. Even a 5% discount saves you $250 on a $5,000 holiday! Can a travel manager assist you with itinerary savings? Comparison sites are useful but try contacting operators too – they may offer better prices or free upgrades for booking with them directly. Also, booking ahead means you should miss out on disappointments – for example, campervans and caravans are hugely popular right now, but demand is outstripping supply.

3. Protect yourself

Explore what you can do to safeguard your travel budget in case things go wrong, including COVID outbreaks, general sickness, accidents, and natural disasters.

Ensure that you can cancel or alter bookings without incurring extra charges. This goes for any flights, accommodation, vehicle rentals, equipment hire, tours and so on.

Also consider getting travel insurance. But read the fine print carefully – is COVID/public health restrictions covered by the policy? What costs are and are not insured? Is every member of your family covered? Is there a cap on how much can be claimed?

Hopefully you won’t need to use these, but you’ll be really thankful for having them if you do!

All that shopping online while in lockdown and paying with cards instead of cash means those credit card points will have accumulated quickly! You could redeem those points to pay for part or all of your trip. The same goes with any unused frequent flyer points from previous trips. Use them where you can get the most value. For instance, many schemes offer better value if you spend points on goods or services instead of redeeming them for cash. Does a family member, colleague or friend have travel bank credits that are about to expire that they are not going to use? Can you do a deal to use them at a discount rather than they lose the credit completely?

5. Claim COVID incentives

The Dine & Discover NSW Voucher scheme has been extended until 30 June 2022 to use your vouchers and all NSW residents aged 18 and over can apply for 4 x $25 vouchers, worth $100. Two $25 Dine NSW Vouchers to be used for dining in at restaurants, cafés, bars, wineries, pubs and clubs or for takeaway meals and two $25 Discover NSW Vouchers to be used for entertainment and recreation, including cultural institutions, live music, and arts venues.

6. Take what you need

It may be quite a while since you last got to enjoy a holiday away, so don’t forget that everything is more expensive in holiday destinations! Wherever possible, take everything you need with you to minimise your spending while you’re away. That includes clothes for all occasions, toiletries, incidentals like sunscreen and insect repellent, as well as any sporting gear you may need. If you have space, consider taking food too for picnic lunches and breakfasts on the go.

7. Have your kids earn their spending money

Let’s face it – you’ll be paying for your kids’ holiday adventures anyway. But you can teach them the value of money by having them earn their spending money beforehand. Weight the value of jobs against their degree of difficulty. Have them start now to save those dollars over time, rather than a mad dash days before you leave. Not only does it help you spread the cost of your holiday over several months, but you also get some odd jobs around the house done for you! By Helen Baker, licensed Australian financial adviser and author of the new book, On Your Own Two Feet: The Essential Guide to Financial Independence for all Women (Ventura Press, $32.99). Helen is among the 1% of financial planners who hold a master’s degree in the field. Proceeds from book sales are donated to charities supporting disadvantaged women and children. www. onyourowntwofeet.com.au

Note any advice or information in this article is of a general nature only and has not taken into account your personal objectives, financial situation, and needs. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your personal objectives, financial situation, and needs. Opinions constitute judgement at the time of issue and are subject to change.

Mama’s favourite family island destinations:

QLD: Hamilton Island - You can’t go past this Whitsunday beauty. Most of the car-free island is covered in bushland, and the coast is fringed by coral reefs. Tours offer up-close sightings of koalas, kangaroos, wallabies and kookaburras. Trails lead up to Passage Peak in the east, with views of the surrounding islands.

VIC: 2. Phillip Island -

There is so much to see and do as a family at Phillip Island. Penguins, seals, beaches and more. We love to base ourselves in Cowes so we can walk to all the great food options! WA: Rottnest Island - Perfectly set up for bike-riding and exploring its 63 beaches and bays, ferries leave daily from Fremantle. Accommodation varies from camping to luxury apartments with boating, fishing and snorkelling, and quokka spotting! SA: Kangaroo Island - Whether introducing your kids to furry native wildlife, visiting the Remarkable Rocks, or sand boarding on the Little Sahara sand dunes, there’s loads on offer. Kangaroo Island is just 30 minutes by plane, or a 45 minute ferry from Cape Jervis (which is a 2 hour drive from Adelaide).