Wednesday, June 10, 2009
Category:
Personal Finance Tips
Soon it is summer time. British summer time. And soon the question on everyone’s lips will be where to spend their time, what to do with it…. and their money.
Summers in Britain are notoriously unreliable and it’s not unusual to have bursts of rain and glorious sunshine all in one day albeit the former is more familiar and common! So many of us long to spend a weekend – or longer – on Ibiza’s beaches or further afield.
How does one decide where to spend their holiday and what to do? Britain can be expensive if you do choose to holiday at home but similarly a holiday in Ibiza might not be as enjoyable or cost-effective as one in Devon, on the Isle of Wight or enjoying a cultural break in Edinburgh. Also, if vital projects have been getting delayed due to lack of time, should one spend their 2 weeks at home, doing those vital home improvements or making their garden a nicer place to spend time in?
The checklist below should help you to form your list of the pros and cons of home, away or DIY.
Money
The amount of money that you have available is possibly one of the biggest influencers. This amount should cover your accommodation, travel costs, food, and other miscellaneous expenses. Money also has to be a consideration if one is thinking about taking 2 weeks off to carry out that next big project at home. Decorating materials do cost money after all.
Number of people
The number of people affects both the budget and the mood of the holiday. Will it be just you, will it be you and your partner, or will it be you and your entire family? The number of people also affects how long a home improvement or gardening project will take. Will you and your partner be off at the same time? Do you have children to care for?
Intention
It’s your holiday so tailor it to your needs. Are you looking for a new cultural experience? Do you need those French language tapes or have you perfected your second language so that you can buy an espresso with confidence? If you need to make home improvements, then you could stay at home and do them. How many of us actually spend much more time at home other than to sleep and eat breakfast and supper. We spend so much time out at work, then rushing around catching up with friends and errands at weekends, that we spend very little of our time enjoying the home we spend most of our time working to keep!
Timing
Flights and accommodation prices surge during the peak seasons. Can you wait until the prices are lower or can you afford a holiday during peak season?
The time that you spend to get to your holiday destination is another big factor. Is it worthwhile spending more than a third of the time travelling? How will the children cope? Will they be ratty and tired after a long flight or would your holiday be more memorable (and less stressful) if you spend a smaller percentage of the time on the road? This would definitely be avoided if you all stay at home to do a decorating or gardening project, and the children, provided they are supervised, can join in too!
Final decision
No matter what the final decision is, the Brits have one of the shortest annual leave entitlements in Europe so whatever you do, whether it be home, away or DIY - make sure you enjoy your holiday! You deserve it.
