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Planning A Family Holiday to Europe? 4 Simple Tips for Saving Money

Planning A Family Holiday to Europe? 4 Simple Tips for Saving Money

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In recent years, the allure of the six-figure family holiday has captured the imagination of many. As depicted in popular television series like Succession and The White Lotus, luxury family trips have become a common reality today. Scott Dunn Private saw a 40% rise in £100K bookings in 2023, a large percentage of which were made for families. Similarly, Black Tomato has seen a 111% increase in multi-generational travel between 2021 and 2022.

Amidst the glamour and opulence, it’s no wonder there’s a misconception that holidays must come with a hefty price tag. Contrary to popular belief, however, planning a family holiday to Europe doesn’t have to break the bank. By implementing some savvy money-saving strategies, you can enjoy a memorable vacation with your family without draining your savings account. Below, we discuss four simple tips for saving money on your next family trip.

Create a travel budget

Proper planning for a family holiday always begins with creating a well-defined travel budget that accounts for all expenses. First, set a clear goal and timeline. Ask your family members about their must-see places and activities, whether it’s sightseeing in Paris or visiting Europa-Park, then determine the destination and duration of your trip. Afterwards, you can calculate the estimated costs of transportation, lodging, food, and activities. Conduct thorough research by looking through news sites and personal travel blogs to understand the average expenses associated with your chosen destination. This will help ensure your family stays within budget while still enjoying all the experiences Europe has to offer.

Look for affordable plane fares

If you’ve done your research properly, then you’d know that budget-friendly plane tickets are within reach as long as you have the right tools. Try out easyJet’s low airfare finder, which shows the best dates and times to fly so you can find cheap flights that match your budget. This also shows the affordable entry points to Europe, like Munich in Germany or Copenhagen in Denmark, as compared to more expensive destinations like Rovaniemi in Finland or Krakow in Poland. Of course, this means having to maintain flexibility with travel dates, so try to book months in advance to clear everyone’s schedule ahead of time. 

Find cheaper train tickets

Travelling by train is one of the most convenient ways to get around Europe. Yet, many holidaymakers still believe train travel to be expensive. This is another misconception, as explained by Rail Europe CEO Bjorn Bender. Similar to air travel, there exists a prime opportunity to secure affordable train tickets. Start by comparing prices on platforms like Skyscanner or Kayak to identify the best deals and routes for your family’s journey, then book between seven to 12 weeks in advance. You can even invest in rail passes for the summer, which will allow your family to travel almost throughout Europe for only a couple of hundred euros.

Secure family travel insurance

Lastly, don’t overlook the importance of travel insurance when planning a family holiday to Europe. On average, this can cost up to 5% to 6% of your trip budget but is indispensable when providing financial protection and emergency assistance in case of unforeseen events, from trip cancellations to delays or medical emergencies. Paying for insurance upfront can help you save money in the long run and avoid unexpected costs or cancellations, which can be hefty. Look for policies that offer coverage for all family members and consider additional options like school-year extension cancellation coverage or upgraded medical coverage for peace of mind. Some plans, like those from AIG Travel or Allianz, don’t even charge you for children travelling with an adult. 

With these strategies, planning a family holiday can be both affordable and rewarding, ensuring your family can enjoy a memorable European adventure without breaking the bank. For more money-saving tips, check out our other blog posts on Savings 4 Savvy Mums.

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