How much do you think you’ll spend whilst on your next family holiday?
According to research by Sky Scanner, people plan to spend £247 per adult and £149 per child on average. For a family of two adults and two children that means having to put £792 aside. But even that might not be enough. The same study also found over 40% of British holidaymakers spent more than they budgeted for on a trip abroad. Translation: a family holiday can hit your finances hard – by over £800.
It’s possible the cause could simply be underestimating expenses – whether that be not realising how much things really cost, or flashing the cash when you’re in ‘holiday mode’.
If you’ve already spent on flights and a hotel, the prospect that you might need even more money than you’ve estimated won’t be very appealing. But, which expenses might you misjudge? Read on to get a better idea.
Family holiday expenses it’s easiest to underestimate!
Car rental and fuel
So you know how much your car rental is going to cost because you’ve pre-booked. But have you fully considered the amount of add-ons you could be pressured into buying when you pick up your wheels?
There’s good chance you’ll wish you hadn’t forked out for that extra special but unnecessary insurance or satnav when you’re running short of cash at the end of the week.
And consider checking the terms and conditions around fuel and mileage. Are there any hidden charges, or caveats that could cost you? It’s easy to rack up the miles going from picturesque town to waterpark to hotel without paying attention to how much that translates into mileage fees, not to mention fuel.
You know you’re going to have to keep the kids interested, whether that’s activities during the day or events at night. The costs can easily pile up as you attempt to keep things interesting and not disappoint youngsters who want to try every adventure playground, miniature golf course and water sport activity they see.
Even if you’re visiting a place you’ve been to before and you’ve got it all planned out, don’t be surprised if prices have gone up.
You could end up kicking yourself that you didn’t budget for a little extra spending money before you left.