Saving vs Summer

Get the best exchange rates/travel credit cards

• Make sure you book your travel money in advance as it pays to be early, and you won’t get the best exchange rate the airport. Use MoneySavingExpert’s TravelMoneyMax travel money comparison tool for an up-to-date price comparison on the best exchange rates for cash.  

• Many banks charge a range of fees for spending with your card abroad. Some providers are fee-free to use abroad including Starling Bank, Monzo Bank & Chase Mastercard. 

• Most credit cards apply a fee of around three percent every time someone uses them abroad. Travel cards won’t charge or will have a low fee, the Money Saving Expert website recommends Barclaycard Rewards or Halifax Clarity.

Low budget outings 

• Have a staycation - consider somewhere nearer to home at a campsite, neighbouring city, or beach. Sites like Airbnb often have accommodation for much less than a hotel or visit family and friends who live further afield. 

• There are hundreds of engaging, interactive free museums and galleries throughout the UK as well as local parks and festivals to enjoy. Check out local council websites or magazines for an events guide. 

• Staying in is almost always cheaper than going out. Bring the fun to your home and host a BBQ (check out these low budget recipes) or picnic in your garden for family and friends.

Energy saving  

• After washing your clothes, hang them outside to dry and save on electricity costs and you’ll be helping the environment too. Tumble dryers use lots of energy, adding up to £60 a year to your bills. 

• Make the most of the lighter nights, let the natural light flood in and save on electricity. When you do need to switch on the lights, get into the habit of only lighting rooms that are being used to save up to £20 a year on your energy bills.

Second-hand summer wardrobe  

• Buying second-hand clothes can help the planet and save you money too. Minimize the impact on your bank account and demand for new clothing production by shopping second-hand from places like eBay, Depop and Vinted. 

• Even Love Island is ditching fast fashion for second-hand clothing from eBay to create an eco-friendly wardrobe for their contestants!

Cancel or freeze unused subscriptions 

• Go through all your subscriptions and work out which ones you can do without this summer.  

• If you’ve been paying for a gym membership, you may want to cancel for a few months if you’re not going regularly and instead enjoy the weather - go for a run, hike or bike ride. 

• Many of us accumulate subscriptions for premium content we don’t regularly use so consider cancelling services like Netflix, Disney+, Apple TV or Sky movies if you don’t really need it. 

• Utilise resources that are available for you, the local library is a great option for borrowing books and media.  

So, remember we don’t always have to spend lots of money to have a lovely summer! 

Don't forget to make sure you're receiving all of the income support you're entitled to... check out this new Government website for more information. 

Article by

NatWest Cushon