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How to save money this half term

Tahmina Mannan
Written By:
Tahmina Mannan
Posted:
Updated:
30/12/2014

We reveal some of the best free activities and top deals to keep your kids occupied during the holidays.

As family finances continue to take a battering thanks to increasing energy prices, stagnating pay packets and high inflation, households are getting further into debt and seeing few ways out.

Adding to these debt worries is the financial hangover left from Christmas which for many has yet to abate.

But with the February half-term break approaching and the grim weather continuing, parents need more money to keep their kids happy indoors.

According to a new report, parents will feel the pinch this half term as they try to ‘keep up with the Jones’ and some will fork out as much as an average of £230 over the week long break.

The report says almost half will be forced to shell out for the latest technology to keep their kids happy, some forking out as much as £90 on DVDs and games alone. Some hapless parents will be bullied into spending as much as £150 for toys for their little ones.

A quarter of parents plan to take their children on at least three costly days out over the week, with each day out costing an average of £53.

Parents living in London face as much as £67 for a day on outings for their kids – racking up a total half-term spend of £469.

These figures will leave most parents reeling at the thought of next week, but there are ways of keeping costs down to a minimum while still being the best parents, ever.

Here are a few tips:

Museums – Most museums will be running kid’s activities for free over the week long break. The Science museum and the Natural History Museum always go down a treat with both kids and grown ups. Take note that queues will be long, so pack some food and keep a few activities handy in case restlessness settles in. Don’t shun smaller museums for the big names in the cities, as you’ll find they will have more hands on activities and fewer families making a beeline for them.

Vouchers – As the recession takes a firm grip of household budgets, coupons stopped being the embarrassing sight they used to be. There are numerous online voucher sites that will give you substantial savings on attractions, lunches out and trips to musicals and cinema.

Local council activities – Take a look through your local library’s or council’s activities page to see what they are offering up as entertainment for the kids over half term. Many will hold story times, free music sessions, face painting and even drama classes. This is a great way of meeting new parents in the local area as well as keeping your little joys entertained as well as learning.

Take public transport – for adults there’s nothing worse than being stuck in traffic or jostling with others for a seat on the bus, but remember when buses and trains used to be exciting? A trip on the top deck of a double decker, or going underground is still very exciting for the little ones, so it is definitely worth leaving the car at home.

Going abroad – If you are jetting off, pack nothing until you have sorted out adequate insurance. Under-insuring yourself, or not having quite the right cover for things like skiing could mean you are faced with thousands of pounds worth of costs if something goes wrong, like accidents or even piste closures or avalanches.

 

If you or someone in your family suffers from a pre-existing condition, make sure you check that the policy you are taking out covers the condition, otherwise you insurer can refuse to pay out for the bill.

Save on currency – According to a recent report by MoneySupermarket.com, despite recent fluctuations in the value of the sterling/euro currency exchange rate, last minute holidaymakers who haven’t yet sorted their travel money can still benefit from shopping around, saving up to £73 on the purchase of €1,000 before they jet off this half term. 

The comparison site says that even a few minutes spent pre-ordering money online for same day collection in London could save up to £73.

For example – pre-ordering €1,000 online with central London collection with ICE would cost £862.07, compared to a direct purchase at Travelex Gatwick, costing £934.58.

Don’t forget that there are pre-paid cards that you can use when heading abroad, which could help cut down on the extortionate fees that some banks charge for using their cards abroad.

Take one of the newest to hit the market from the International Currency Exchange (ICE) – it offers 1% cash back on all purchases made with the card, 0% commission on all money loaded onto it, and is locked into whatever the exchange rate was when you put the money in.

It’s also free to purchase, has free cash withdrawals both in the UK and abroad and works just like cash.

Buy half-term deals – Many supermarkets will put on offers for kids’ foods and drinks, but keep an eye out for deals that actually are a good deal, or ones that aren’t actually a great saving. If you plan the week’s groceries right, you can budget in the odd treat or two and still make a saving.

Head to the cinema – Trips to the cinema stopped being the poor man’s choice for an outing a long time ago, as each visit could cost as much £17 per person, so some parents may balk at the thought of taking a family of four.

For the half term break, Vue and Odeon cinemas are letting kinds watch certain films on Saturdays and Sunday for £1.75 and £1 respectively.

Orange Wednesdays are also a good way to keep costs down midweek for Orange customers with their two-for-one offers.

Get the kids to do chores – Whether it’s with the gardening or with the baking, allowing them to get their hands messy will keep them entertained for hours, as well as teach them life skills that will probably pay dividends for you and them later in life. Teach them how to make you breakfast, and you might have a ‘breakfast helper’ for life…


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