Dad dot info
DAD.info form. Ask questions, get answers

5 WAYS TO SAVE £500 AHEAD OF THE SCHOOL SUMMER HOLS

Getting on top of the household finances now could set you up with a bit of extra cash to enjoy by the time the schools break up at the end of July

 

Keeping the family entertained over the long summer break can be expensive, Kyle Mavris, a NatWest Branch Manager, has compiled his tips on things you can do now to put an extra £500 in your pocket by the holidays:

Save energy at home

With the weather improving and the nights drawing out, now’s the perfect time to look at what energy you’re using and where you can make savings. The Energy Saving Trust has great practical tips on how to reduce usage. Simple things like turning your gadgets and appliances off stand-by mode, cutting your energy use in the kitchen, spending less time in the shower and even just remembering to switch the lights off can all help make substantial savings.

Monthly estimated saving: £14.40

Estimated savings over four months: £57.60

Based on The Energy Saving Trust savings. £30 per year savings for taking appliances off standby, £50 per year savings in the kitchen, £80 per year savings in the shower, £13 per year savings on lighting = £173 savings per year.

Cut food waste

The cost of food waste is a staggering £700 a year for a family of four, according to Love Food Hate Waste. This is mainly because we cook or prepare too much, or we don’t use our groceries in time. Fresh vegetables and fruit, and bakery items such as bread and cakes are the worst household offenders. Stick to a shopping list and keep track of what you’ve got in the cupboard to help cut waste.

Monthly estimated saving: £58.30

Estimated savings over four months: £233.20

Based on Love Food Hate Waste savings for a family of four

Spring Clean your Finances

If spring fever gets you in the mood to clean the house, don’t forget to tidy up your direct debits as well. A typical family spends £70 a month on monthly payments for things they no longer need or use (based on UK average). If you haven’t been to the gym in months, why not take advantage of the warmer weather and find a free alternative, like going for a walk or jog.

Monthly estimated saving of ditching one gym membership: £30.70

Estimated savings over four months: £122.80

 

Pay your bills and earn cash

We all have a number of regular household bills each month, but some financial institutes offer current accounts where you get a certain percentage back on a range of household bills including council tax, gas, electricty, water, phones, TV and broadband. There is no minimum or maximum amount of eligible bills that can be included or the amount you can earn – all you need to do is pay your bills by Direct Debit through the account.

Monthly estimated saving: £10.50

Estimated savings over four months: £42

Sell your old phone

Research suggests that British households could be sitting on billions of pounds worth of old, unwanted phones, which are doing nothing more than collecting dust. In fact,the average household now has two old phones sitting around which could fetch a good price on most mobile phone recycling websites. Get rid of clutter and make some cash in the meantime.

Estimated value of selling one unused smartphone: £126

If you master the above, you could build up a nice pot of more than £500 between now and the school summer holidays starting at the end of July. And we’ve even come up with some ideas of how to put this money to best use over the summer…(not that you’ll need it!)

Related entries

How to Create a Household Budget

How to Create a Household Budget

Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery. --Charles Dickens Money. It's not a fun subject, but a necessary one. Sorting your finances gives...

Money Worries? Help is at Hand

Money Worries? Help is at Hand

2020 has been the toughest year ever for a lot of people; bringing difficulty and even tragedy to many. Major retailers have gone to the wall and more are likely to follow, causing further grief and heartache to many who will lose their job. The low paid are the most...

Freelance Dad – Summer Budget

Freelance Dad – Summer Budget

 Budgeting for the summer holidays as a self-employed dad Money, does anyone ever have enough? Seems as though as quickly as you earn it, more bills pile into your inbox and somehow the summer always ends up being much more expensive than you thought. Dad.info...

Latest entries

The Best Family Walks in Britain

The Best Family Walks in Britain

We could all do with exercise, fresh air and some lovely low-cost days out, not to mention some beautiful scenery. Charles Clinkard have put together a list of the 40 greatest walks for families in Britain, taking into account a number of helpful amenities such as...

How To Keep Your Child Safe Online

How To Keep Your Child Safe Online

As a parent of a 10 year old who is rapidly approaching the age where he will be getting his own phone, I’m concerned about ensuring he isn’t exposed to a cavalcade of disturbing things online. I’m worrying about bullying, about him being contacted or making friends...

21 Things You Didn’t Know About Japan

21 Things You Didn’t Know About Japan

The Olympics have started! Despite a lack of fans (crowd noise will be piped into the stadiums instead) the event is still as important as ever and makes for great summer viewing. So at Dad.Info we have rounded up 21 interesting facts about Japan to both liberally...

Pin It on Pinterest