Our Guide to Beach Ready Finances

Getting yourself ready for the beach might involve putting some effort into trimming down, building up and getting prepared with the fake tan.

But what about your money?  Having beach-ready finances ensure that your summer is enjoyable and stress-free, allowing you to soak up the sun without worrying.

At Continuum we are looking at getting your financial arrangements beach and holiday fit.

Set your summer budget

Before you start planning your summer break, you need a realistic summer budget. Start by assessing your current financial situation. What will have to be paid off first?

Then work out what you need to spend. Your holiday break is an investment in fun, so you want to get your moneyโ€™s worth. Include categories such as travel, dining out, entertainment, and unexpected expenses. By establishing a budget, you can enjoy your summer without worrying that you canโ€™t quite afford the little extras.

Consider creating a separate holiday fund to cover vacation costs and other seasonal expenses. Automatic transfers to your savings account can help you build up a worthwhile sum relatively painlessly.

Stay committed to your financial goals. Set aside a portion of your income for long term savings, just as you would in other seasons. 

Plan ahead 

With careful planning, you can enjoy a memorable trip without breaking the bank. Look for deals on flights, accommodations, and activities. Booking in advance often means better prices, and being flexible with your travel dates.

You might be able to save with Airbnb or similar services. And look at last minute deals.

Watch your spending

It's easy to get excited about dining, entertainment, and shopping. To keep your finances in check while enjoying yourself, try monitoring your spending. Using a small amount of local cash may help you stick to your budget. Alternatively, keeping an eye on your app when you use your card can be a great way to stay on track. A quick daily check can show you how your money is holding up, ensuring you can enjoy your activities worry-free

Play your cards right

You can simply use your usual card in most parts of the world, but some card providers charge a โ€œnon-sterling transaction feeโ€ of about 3%. Check your card providers website, and if your issuer charges, you might want to find an alternative which doesnโ€™t. Or consider a pre-paid travel card.  You load them up with money before you leave, and use them like your usual plastic, avoiding a nasty debt hangover when you get home.

Save on Food and Drinks

Enjoying the local bars and restaurants in the evenings can be a highlight of your trip. Just remember to factor these expenses into your budget. During the day, bringing your own snacks and drinks to the beach can save you some cash that you can spend on other fun activities.

Stay Secure and Protected

To keep your finances safe, avoid carrying large amounts of cash and use credit cards with fraud protection. Let your bank know about your travel plans to ensure smooth card usage. When accessing financial information, be cautious with public Wi-Fi and consider using a VPN for extra security. Also, travel insurance is a great way to ensure peace of mind. It can cover lost luggage and protect you from unexpected medical expenses, keeping your financial plans intact.

Want some help?

With proper planning and mindful spending, you can achieve beach-ready finances and enjoy a stress-free summer. Setting a budget, prioritizing savings, and being conscious of your expenses really will allow you to make the most of the break with less of your cash

Of course, being financially fit is important all year round, not just when you go away โ€“ and at Continuum we can help you build up all year-round financial fitness. Pay less for insurance protection, get more from your savings, plan for the future. We can help you every step of the way.

So call us soon โ€“ and have a great holiday break.

Top travel cards: the best credit and debit cards to use abroad (moneysavingexpert.com)

The information contained in this article is based on the opinion of Continuum and does not constitute financial advice, or a recommendation to a particular saving strategy you should seek independent financial advice before embarking on any course of action.

The Financial Conduct Authority does not regulate National Savings products or deposit accounts.

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