Wednesday, August 3, 2011
Category:
Personal Finance Tips
According to moneysupermarket.com, research has revealed that 18 percent of parents are expecting the cost of family days out to push them into the red this summer. Findings have shown that 76 percent of this group will use a credit card or overdraft facility to pay for activities, whilst 22 percent will take out a loan for this purpose.
Moneysupermarket.com has pointed out that ‘it’s perhaps not surprising that parents are concerned about paying for summer holiday activities as costs can soon mount up’. A trip to Legoland has been given as an example, which would reportedly cost a family of four approximately £300 due to the cost of entry, travel and food.
Following an additional site poll of moneysupermarket.com customers, it has been revealed that 37 percent of parents are intending to visit free local attractions this summer in a bid to save money. In addition, a further 14 percent of parents will reportedly make use of money saving vouchers to help entertain their children.
Moneysupermarket.com has offered the following ‘top tips to minimise summer spending’:
- Prior to going out for the day, check to see whether there are any vouchers or codes that could help bring the cost down.
- Book tickets for days out in advance, online. For example, book an adult or family ticket for Alton Towers online to save over 20 percent.
- Keep an eye out for free local attractions such as the Imperial War Museum, which is free to enter and has an array of exhibitions to suit everybody.
- Before heading out for the day, pack your own refreshments. Many theme parks and other attractions have picnic areas.
- Contact your local council for details of nearby places that offer attractions such as tree-climbing or duck feeding. Access to the majority of parks is also free, as is access to your nearest beach.
- Purchase a family railcard for just £28 a year to save a third on most adult rail tickets and 60 percent on children’s rail tickets.
- Cash in your shopping rewards such as Tesco Clubcard vouchers. These can be redeemed at three times their face value and can be used at nationwide attractions, restaurants and other venues.
………………………………………………………………………………………………....
Homeowners who have gone into the red due to turning to credit cards could consider tying these debts up with a secured loan. One of many finance options available, a
secured loan for consolidation could allow borrowers to replace multiple monthly credit card repayments with just one monthly repayment. What’s more, this single monthly repayment could be lower than the sum of existing outgoings – thereby freeing up useful money each month. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
