Whether you travelled overseas or you spent your summers gallivanting along the glorious UK coastline, many of us look back on our childhood holidays with much fondness.

The chances are that your recollections of these times are wonderfully dominated by the simplest of memories, spent with the people you love.

Hiding behind your hands in embarrassment at the sight of Dad dancing (very badly!) to the Ketchup Song at the mini disco in Menorca.

Laughing hysterically when Dad picked Mum up off the sun lounger and threw her into the pool in Lanzarote.

The time Grandad let you have not one, but two ice-creams in Scarborough, because you couldn’t decide which flavour you wanted.

That summer you and your siblings built the biggest sandcastle ever in Abersoch, digging and sculpting away with dedication as the sun set.

While social media can make it easy to compare our lives and financial situations to those around us, it helps to remind ourselves what holidays are really all about.

The truth is, you don’t need an endless supply of money to enjoy a good break and spend quality time with those who matter the most to you.

Whatever your getaway of choice, Dan Whittaker, a personal finance expert at Little Loans, shares five savvy saving tips to help you make the most of your holiday budget.

While social media can make it easy to compare our lives and financial situations to those around us, it helps to remind ourselves what holidays are really all about.

Insurance, insurance, insurance!

Off on a trip overseas this summer? We know you’re probably going to roll your eyes at this, but you should take out insurance as soon as you book. We understand that insurance can feel like yet another expensive add-on, but it is SO important, and could potentially save you a lot of money in the long run.

When it comes to insurance, many of us are guilty of being blasé and assuming that the worst-case scenarios won’t happen to us. This is a huge mistake, and it could well come back to haunt you.

Depending on the provider and policy, insurance doesn’t just cover large-scale catastrophes, but also smaller issues, such as lost luggage and minor illness. For example, if one of the kids picks up an ear infection abroad, you’re likely going to need to pay for a visit to the doctor, antibiotics, a follow-up appointment, and a “fit to fly” certificate, which some airlines will ask to see before you’re able to board the plane. Suddenly, that pesky ear infection has set you back hundreds of pounds, all of which could well have been covered on your insurance policy, subject to any relevant excess fees.

You can compare the cost of travel insurance policies on sites such as MoneySuperMarket. Be sure to always read the terms and conditions so you know exactly what you’re getting, particularly in terms of excess fees. Hopefully you won’t need to make a claim, but it’s better to be safe than sorry.

Margate beach

Tom Wheatley / Unsplash

Scrimp at the service station (and airport)

The majority of us are sadly all too aware of how pricey both motorway service stations and airports can be. Let’s be honest, a basic grab ‘n’ go tuna sandwich and a bag of Space Raiders shouldn’t leave us feeling as though we might have to remortgage our house…!

Whether you’re hitting the road or taking to the skies, combat the costs by packing your own snacks and meals. Yes – you can carry your own solid food through airport security in your hand luggage! This includes sandwiches, cereal bars, crisps, fruit and sweets: all perfect items for a pre or post-holiday picnic with a difference.

Stock up on goodies during your usual weekly shop before you head off for your jollies and allow your bank balance to reap the rewards. You could even put money saved on extortionate meal deals towards a special restaurant trip while you’re away.

Scrupulous spending

‘Giving in to the kids’ demands for a unicorn neck pillow at the airport, or throwing £50 at a duty free three-foot Toblerone can be easily done when we’re in holiday mode. In fact, a recent study found that one in five people in the UK admitted to overspending while away.

Holidays are typically a time to treat ourselves, but sometimes, we may find that we go overboard and spend more than we intended. When we’re away, we might become frivolous with our money, which can lead to feelings of guilt and panic once the trip is over and reality has resumed.

You should always stop, take a step back, and ask yourself the following before you spend any amount of money:

  • Can I comfortably afford it?
  • Do you really need the item, or is it just a “want”? (Sorry, but as heavenly as a three-foot Toblerone sounds… It’s probably not a need!)
  • Wants are nice to have, but is the item actually useful, and will it add value to your life?

We totally get it: budgeting is probably the very last thing you feel like doing on holiday, but try to see it as a help, rather than a tedious hindrance.

Before you go, work out exactly how much you have to spend over the course of the holiday, and break that down into daily budgets. Of course, your plans may change, but having an outline of a loose budget in place could help you to manage your money effectively and with confidence.

Try not to beat yourself up if you go over your budget one day – simply try to cut back slightly the next day, or wherever you’re able to.

Check out local public transport rather than taking taxis

Hopping in and out of taxis can burn through your budget. Navigating public transport in an area you’re not familiar with – especially overseas – may feel daunting, but it could help you cut back on costs.

Most major airports and train stations in the UK and overseas are well-serviced by public transport links, so it’s definitely worth a Google search before you travel. You can usually book train, shuttle and bus tickets online in advance too, which could save you both time and money.

For example, a taxi between Rome’s Fiumicino airport to Termini, the main train station in the centre of the city, will set you back around €55. On the other hand, taking the Leonardo express train costs just €14 a ticket, or €46 for a group of four. Alternatively, you can take a shuttle bus for as little as €7 for a one-way journey.

The Colosseum

Marco Chilese / Unsplash

On UK soil, a taxi between Scarborough train station and nearby popular spot Robin Hood’s Bay could cost anywhere between £35 and £45, whereas a one-way bus ticket is priced at £2 - a potentially huge saving of £43!

Nothing will make you feel more like a local than acing the public transport system in the area you’re visiting.

It goes without saying that you should exercise caution when using public transport anywhere in the world; keep your belongings close by, and trust your instincts. Again, a Google search should be able to tell you the areas best avoided around your destination.

Frugal, free, and fab

There are plenty of ways to keep entertained on holiday, without breaking the bank. Holidays are a great opportunity to take things back to basics and enjoy the little things in life.

Days out at theme parks, water worlds, and zoos can be great… But they’re not the bee-all-and-end-all. Kids can have just as much fun spending a day on the beach with miles of rockpools to explore.

While the kids may initially whine and clamour for roller coasters, they’ll soon be shamelessly relishing a laidback afternoon at the beach, or a couple of hours spent cycling through the forest.

We’ve included just a few of our favourite cheap and cheerful holiday activities below.

  • Pack up a picnic and head off for a hike to explore your destination.
  • If you’re lucky enough to be staying somewhere with a pool, why not organise an Olympic-style tournament, complete with different categories to ace, such as the best backstroke, and the most inventive dive? Don’t dismiss this tip as solely one for the kids, either - you’d be surprised how competitive adults can get!
  • Host a sandcastle building competition.
  • Check to see if there are any festivals or celebrations taking place during your visit. Things like carnivals and parades tend to grant free entry, and can provide hours of cultured enjoyment. A quick Google search of your destination should be able to shed light on any upcoming events. Alternatively, the reception staff at your accommodation should be able to help point you in the right direction.
  • Take advantage of any art galleries, museums, churches or walking tours offering free entry.

Staycation-ing this summer? Great! Check out Visit England’s fantastic guide of free things to do around the country.