Term breaks are the perfect time for families to create wonderful memories together. But let’s face it, financial stress can sometimes put a damper on those plans. Don’t worry… Here are some holiday planning tips to help you make the most of your family time without breaking the bank.

1. Plan ahead: The key to stress-free holidays is planning. As soon as the term starts, start setting aside a small amount each week. It adds up over time and makes paying for the holiday expenses a lot smoother.

2. Create a budget: Set a budget for your term break and stick to it. List out all the expenses, including accommodation, transportation, activities, and meals. This will help you avoid overspending and focus on what truly matters.

3. DIY fun: Get creative with your holiday activities. DIY crafts, picnics and nature walks are not only enjoyable but also cost-effective. Quality time doesn’t always have to come with a hefty price tag.

4. Travel smart: If you’re planning a trip, be on the lookout for deals and discounts on flights and accommodations. Consider travelling during off-peak times when prices are more wallet-friendly.

5. Pack snacks: Packing snacks and drinks can save you a significant amount, especially if you’re travelling with kids. It also helps curb those impulse buys that tend to sneak up on us.

6. Hertsavers to the rescue: Now, let’s talk about how Hertsavers Credit Union can be your holiday hero. They offer a variety of savings accounts, including the Holiday Savings Account. It’s like a dedicated piggy bank for your vacations. Setting up automatic transfers to this account ensures you’re always prepared for that well-deserved break.

7. Child Benefits Loan: Hertsavers has your back when unexpected expenses pop up. Their Child Benefits Loan provides a quick and affordable solution to cover those surprise costs without ruining your vacation plans.

Remember, holidays are all about creating cherished memories with your loved ones. With smart planning, a solid budget, and the support of Hertsavers Credit Union, you can enjoy your term breaks to the fullest without worrying about financial stress. So, go ahead and start packing for that unforgettable adventure.

Transforming your home and making it a cosy haven shouldn’t break the bank. With creativity, resourcefulness, and a little help from Hertsavers Credit Union’s homeowner loan, you can embark on your home improvement journey without stretching your finances. In this article, we’ll explore five budget-friendly ways to enhance your living space, turning it into a welcoming oasis for you and your loved ones.

1. Embrace the power of repurposing

One of the most cost-effective ways to make home improvements is by repurposing items you already have. Before rushing to the store, look at your existing furniture and decor. With a fresh coat of paint or some DIY skills, you can transform old pieces into new, stylish additions to your home. Get inspired by online tutorials, and let your creativity shine!

2. Get thrifty with second-hand finds

Thrifting is trendy but also an excellent way to find unique and affordable treasures for your home. Browse local thrift shops, charity stores, and online marketplaces to discover pre-loved furniture and décor items. A little sanding, staining, or reupholstering can give these pieces a new lease on life, adding character and charm to your living spaces.

3. DIY décor delights

Home improvement doesn’t have to involve expensive contractors and high-end designers. Many upgrades can be accomplished through simple do-it-yourself projects. From crafting your wall art to creating custom curtains or pillow covers, there are numerous budget-friendly DIY ideas available online. These personal touches will save you money and make your home uniquely yours.

4. Focus on energy efficiency

While making home improvements, consider enhancing your home’s energy efficiency. This approach not only benefits the environment but also reduces long-term utility costs. Simple measures like weather-stripping doors and windows, adding insulation, and switching to energy-efficient lighting can make a significant difference. Hertsavers Credit Union’s homeowner loan can support your energy-saving upgrades leading

5. Landscaping on a budget

Don’t forget about the exterior of your home! A well-maintained garden and outdoor space can greatly enhance the overall appeal of your property. Start by planning a low-maintenance garden with native plants that require less water and care. Consider creating a vegetable or herb garden, not only as a budget-friendly landscaping idea but also to enjoy the benefits of homegrown produce.

In conclusion, home improvement on a shoestring budget is an achievable, fun and rewarding experience. By repurposing, thrifting, DIY-ing, focusing on energy efficiency, and budget-friendly landscaping, transform your living space without breaking the bank. And with the support of Hertsavers Credit Union’s homeowner loan, you can take your home improvement plans to new heights. Remember, a welcoming and cosy home doesn’t have to come with a hefty price tag.

Bank holidays are a great opportunity to take a break from our hectic schedules and spend quality time with family and friends. However, they can also take a toll on our wallets if we’re not careful.

Here are some money-saving tips to help you make the most of your bank holidays without breaking the bank.

Plan Ahead: Start planning for the upcoming bank holidays as early as possible. Create a budget for the activities you plan to do, including travel, food, and entertainment. Having a plan in place will help you avoid overspending.

Compare Prices: Before making any purchases, compare prices from different retailers. Look for deals and discounts that can help you save money. You can also check with your credit union to see if they offer any special offers or discounts for members.

Use Cash: Consider using cash instead of credit cards for your bank holiday expenses. This will help you avoid overspending and accumulating high-interest credit card debt. If you don’t have enough cash on hand, consider taking out a small loan from your credit union to cover your expenses.

Opt for more affordable activities
Instead of going out to eat at a fancy restaurant, you could have a picnic or a barbecue at home. You could also visit local parks and attractions instead of going on expensive vacations.

Remember that if you need extra cash to cover your bank holiday expenses, Hertsavers Credit Union is here to help. You can apply for a small loan to help you cover your expenses without breaking the bank.

Travelling, especially for leisure can be perceived to be an expensive activity. However, this is not always the case as we have researched some tips from seasoned travellers on how to save money for travelling.

1. First things first, make travelling a saving goal

Saving up enough money for travel can be seen as a sacrifice. However, with the right mindset, you will be able to do it.

Make your holiday savings goal SMART i.e.

S (specific) – Think about where you are hoping to travel to and how much it costs to get there. From there, think about how much money you need to keep aside to achieve the target amount.

M (measurable) – Determine how you will measure how much money you have saved by keeping a record. You can easily see this when you open a savings account.

A (attainable) – be reasonable with how much you will be able to save within a timeframe. For instance, you can’t make £5,000 in one month but £250 is achievable. Also, think about how you will save money to achieve your goal.

R (realistic) – Think about whether you will really be able to save the amount of money in the period of time that you have kept aside. What will you do differently (and be realistic about it)? For instance, is it realistic for you to walk to work rather than take public transport or your car?

T (timely) – Know when you want to travel so that you can set your holiday savings goal with the travel dates in mind.

To achieve your savings goal, why not open a Hertsavers Holiday Savings Account? You can save as much as you want and whenever you wish. When you are ready, you can take all your money out to pay for that dream holiday.

To set up your Holiday Savings Account, contact us via email at office@hertsavers.co.uk.

2. Track your spending

While it seems daunting to check your bank balance, tracking expenses is an important part of learning where you can cut back, or even eliminate your spending.

In the process of saving towards your travel, write down everything that you are spending on. How much are you spending on food every week? How much are you spending on entertainment such as socialising, cable, events tickets, music, books etc?

3. Budget, budget, budget!

When travelling, there are two budgets that you need to keep – the first one is the budget for your trip while the second is your day-to-day life.

By working out how much your trip is going to cost you, you can make a travel budget so that you have an idea of how much you will be spending per day.

In your travel budget, think about the following:

• How long are you travelling for? A week? A month? Back-packing for six months? This will help you consider how much you need in your bank account before setting off on your travels.
• Accommodation – if you choose wisely, you can save on accommodation. For instance, consider staying in a hostel rather than a five-star hotel if you are on a tight budget.
• Flights (if travelling abroad) – look out for flight deals; book ahead of time; if buying flights online, open an incognito window when researching flights as flight websites tend to hike up the prices each time you visit their websites.
• Food – avoid eating out if you can and make food at home. If you have to eat out, check for online deals before choosing where to eat.
• Shopping – make a list and stick to it. Only buy what you really need and avoid impulse buying.

4. Cut down on unnecessary spending or expenses

• Do you really need Netflix, Apple TV, NOW TV and Amazon Prime all at the same time? Choose one that suits your needs and cancel the subscription for the rest.
• Do you need a daily fix of shop-bought coffee every day? Make your own coffee at home and make a shop-bought coffee a treat once in a while.
• Cooking – save £5 to £15 per meal by preparing your own food at home. This way you will save over £500 a month just by cooking at home.

This way you will be able to save money for your travel adventures.

5. Consider making some extra money

Perhaps you can find a “side-hustle” that you can work part-time such as a waiter, supermarket cashier, photographer, virtual assistant etc.

If you enjoy making crafts, consider making and selling them online on websites such as Etsy.

Do you speak more than three languages? Maybe look for jobs online as a translator or an online English tutor.

When you travelling, here are some quick money-saving tips to help you stick to your budget:

1. Plan to travel off-peak

This can drastically reduce your travel expenses. From flights to accommodation, you can make great savings just by travelling when there is no holiday season or during the school term.

2. Travel to cheap destinations

Some destinations are wonderful but can be quite expensive to travel to due to their popularity. Some of these include the USA, Australia, East Africa and Northern Europe.

Look for cheaper destinations where you can get a similar experience such as going on a ski trip to Bulgaria rather than France.

Also, do some research into destinations where your home currency goes further. Backpacker favourites like Mexico, Thailand and Vietnam offer a good exchange rate and the option to feel more relaxed when you’re there.

3. Look for free activities

With a little research, you may discover some free things to do in the area such as free walking tours, community events; discounted admission to popular places after a certain time of day or even just taking advantage of your accommodation’s free amenities.

4. Food

• Shop at farmer’s markets and local stores. Farmer’s markets often lower the price of their food towards the end of the day. Also, shopping at local stores allows you to taste the local cuisine without having to pay the price of a restaurant.
• Eat locally – rather than eating near a popular tourist site, eat further away on one of the side streets, for example, for cheaper meals.
• If you are doing half-board where breakfast is included, eat a lot or have a late breakfast to keep you filled up for longer such that you need a light snack later.
• Going with kids? Carry snacks and water during outings. It can get quite expensive to buy snacks on the go and spend money on bottled water. Therefore, think ahead and either take your own snacks from home and buy a case of water if needed. If it’s not possible to do that, go to a local supermarket and buy enough that will keep you going for the rest of the trip. Only get treats which can only be found locally in that area.

5. Get travel insurance

Even though it may seem like an unnecessary expense, it’s important to buy a policy for those ‘just in case’ scenarios as you may never know when you might need it. Look out for policies that give you medical coverage abroad, missed flight, lost baggage and theft.

6. Get a local sim card

If you are travelling abroad, you can get hit by roaming charges which can be quite expensive. Therefore, get yourself a local sim card so that you can have a working phone abroad where you can stay connected and in case of emergencies.

7. Manage your finances on the road

Withdrawing money abroad can be quite costly as money changers and airport exchange booths usually charge a high fee and find a way to rip you off.

Therefore opt for a travel money card where you can load the right currency and a set budget. You can also use a prepaid travel card such as Revolut and Wise.

If you prefer to use cash, withdraw a larger sum in the local currency where you are travelling to. Keep an eye on fluctuating exchange rates before you travel and order your currency in advance to get the best deal.

8. Travelling around

If you are planning on going from one place to another while at your destination, consider hiring a car.

If driving is not an option, then try and book accommodation which is near a transport link such as a train station or bus stop that can help you get around.

Conclusion

Remember to follow through with your holiday savings goal and stick to your budget.

Hold yourself accountable or get someone who can keep you accountable so that you can stick with your goals.

Remember the formula for saving money, ‘Live below your means, and save the rest’.

All the best in achieving your travel dreams.

If you have any money-saving travel tips, do let us know and we will add them here.

References:

The World Pursuit

Huffpost.com

Spend Life Traveling

Expert Vagabond

Spring is upon us, the weather has improved and lockdown rules have started easing. Many of us take this chance to start spring cleaning. Now is also a good time to tidy up your financial affairs for a better mindset and managing your money.

1. Set your financial goals – and commit to them

After you have outlined your short-term and long-term financial goals, set a limit as to how much money you need to put aside to achieve them. One of the most effective ways is budgeting. By tracking your spending and seeing how much you are saving, you will feel that you’re in better control of your money which will boost your confidence.

2. Review your budget

As mentioned in the previous point, budgeting is an effective way to track your spendings which would eventually help you reach your financial goals.

When doing a spring clean, go back to your budget and see what you are spending on. If there is any unnecessary spending such as subscriptions that you aren’t using or contracts which have ended, you can cancel these or look for better deals.

By budgeting consistently, you will be able to reach your financial goals more easily and reduce any financial stress.

3. Review your credit score

It’s important that you check your credit score on a regular basis. Having simple errors in your record can affect your ability to get a loan in the future.

You would need to check the following details:

• Address details are up-to-date
• You are on the electoral roll at your address
• Your information about any existing accounts is accurate
• You make payments on time.

There are various ways to check your credit score including Experian, Equifax and TransUnion.

You can find out more about credit scores here.

4. Clear any outstanding late payments

As mentioned earlier, late payments can affect your credit score therefore now is the time to catch up and clear any late payments.

Some examples of how you can save up to settle your debts including:

Sell any unwanted items that you have either online or in a car boot sale.
Avoid spending money unnecessarily by avoid impulse buying, for example.
Sign up for our payroll deduction scheme with your employer and start putting your money aside.

You can check our money-saving tips for more ways on how to save.

5. Plan for your financial future

If you enjoy gardening, you may know that you would need to plan and begin to plant your garden for the next year in the spring. Likewise, if you are thinking about buying a car, your first home, Christmas, a special occasion or planning a holiday, you would need to take the time to create a financial plan.

You can do so by taking the advantage of one of our savings accounts to suit your needs such as the Christmas Savings Account. Also, a quick win for saving is setting some money from your salary each month through our payroll deduction scheme.