Freshen up your finances

Freshen up your finances with the 30 Day Challenge!

Spring is in the air, so it’s time to start cleaning … your finances, that is! With these great tips, and a little help from the 30 Day Challenge, you can get your finances squeaky clean and in tip-top shape. And that means more funds and more fun come summertime!

Ahh spring. The time of love, sunshine, flowers … and spring cleaning. But as well as cleaning out the cobwebs around the house, spring’s a great time to freshen up your finances as well – and the best part is you won’t even have to struggle with the rubber gloves to do it!

If you need to give your money ‘stuff’ a bit of a once-over, take a look at our handy guide to spring cleaning your finances ….

Don’t work hard, work smart!
Okay, let’s bust one myth right from the start – spring cleaning your finances doesn’t need to be hard. And it doesn’t even need to be boring!

One of the simplest 'budgeting tools' is organising your paperwork so that you can put your hands on everything you need quickly and easily next time you need to find something and take the stress out of tracking down that receipt you know you put somewhere! So get hold of an expanding file and label a section for each day of the month, or grab some individual files if you can’t find a nice big one that will do the job. File your paperwork as it comes in into the section for the day when you need to do something about it and make a point of checking your ‘in-box’ each night to see what you need to do the next day.

If you want to keep your organisational system even more streamlined set it up in your calendar on your computer and set alarms to remind you when you need to pay each bill. Next, get some folders and dedicate one to each bill, statement or account and transfer things from your in-box to this permanent filing system once they’ve been dealt with. There’s no rule that says these have to be plain either – Ikea has some fantastic ones, and you can also pick up some fun and funky folders at most of the big discount stores. To make things even less stressful, set up an automatic debit system from your bank account – you’ll take the pressure off having to remember to make the payments and you’ll be able to make sure you don’t get slugged with late fees again!

Taxes don’t have to be taxing
All right, we know what you’re thinking: doing your taxes is even worse than cleaning out the laundry cupboard! But if you have everything sorted out ahead of time so you don’t have to run around doing everything at the last minute, it doesn’t have to be!

If you’re planning on going the DIY route, you need to have your return lodged by the end of October, so now’s the time to start organising those receipts, group certificates and other important pieces of paper you’ll need to get the job done – then grab a Tax Pack, set aside an afternoon, and get it done. And if this is one bit of financial spring cleaning you’d really rather bring in the professionals for, you can have a tax agent handle your return. It gives you a slightly longer deadline, but you still need to organise all your paperwork – and the sooner that’s done, the better.

Now here’s the good bit: by starting early you can jump online or speak to your tax agent to find out exactly what deductions you could be entitled to, and you’ll have plenty of time to hunt down all the receipts you’ll need to claim them if your paperwork from last year wasn’t as organised as it could be!! Common deductions are work-related expenses if you’re an employee, school expenses under the Education Tax Refund if you’ve got school-age kids and charitable donations, but there are plenty of other things you can claim, especially if you’re self-employed – so get cracking, because the best savings turn up when you look for them!

Delegate
All right, you’ve done your part – now it’s time to put your money to work! There are plenty of different ways you can make your money work harder: make sure that you’re getting the best possible deals on the most your mortgage, credit cards, personal loans and savings accounts, that your utility, phone and internet packages are right for your needs and that you’re getting the best value for money at the supermarket. And that’s just the start. There isn’t enough space to go through all the possibilities here, but you can find out all you need to know by grabbing your copy of Save $30 000 in 30 Days and embarking on the 30 Day Challenge. The Challenge will help you make sure that your money is doing its bit to keep you financially ahead. Remember: you’re in charge of your money management, it’s your cash that should be doing the hard labour for you!

With these great tips behind you and the 30 Day Challenge ahead, you have everything you need to freshen up your finances. And if you still feel a bit like procrastinating on the spring cleaning … we promise you won’t have to clean out any wardrobes until Day 26 of the challenge!

Houeholds at risk of hack attack

A stolen identity can cause big financial losses – but with a password on your computer you can be fairly confident you’re not at risk, right? Wrong. There’s a big gap in the defences of many Aussie homes and hackers are just waiting to exploit it.

You’d think that changing your PINs regularly, keeping an eye on your smartphone, having a password on your computer and keeping your anti-virus software up to date would keep you safe, wouldn’t you? Well … maybe not. Unfortunately, there’s a whole new way for hackers to attack, and even with all these measures in place there could be big gap in your defences that cyber-criminals are able to exploit.

There are a lot of disturbing stories out there that prove how sophisticated cybercrime has become, with high-tech criminals now able to hack into ATMs and bank accounts. But for many Australians, the biggest risk of identity theft, fraud and cybercrime could be lurking very close to home. Unsecured wireless networks are posing a new risk for their owners, with hackers able to use non-password protected wi-fi for fraudulent activity.  According to internet security experts, unsecured wi-fi can open any device connected to the network up for attack, with hackers able to turn computers and other devices into ‘robots’ to send spam, access personal details, and even attack other systems.

There are so many different things you need to do to protect yourself from identity theft that it can be easy to be lulled into a false sense of security when you feel you’ve got the basics covered. People have passwords on accounts and devices, but forget about securing their network as well. But since it’s possible to connect to some wi-fi networks from as much as 100 metres away from the modem – and that you’ve got no way of knowing whether you’re being attacked until it’s too late – it’s definitely time we considered securing wi-fi as one of the ‘basics’.

From a financial perspective, the risks are huge. A hack on a system could lead to loss of personal data, such as bank statements and credit card numbers. And the potential for damage is enormous: losses from cybercrime and scams reported to the ACCC totalled $63 million in 2010 and in 2009 around 4.4 million Aussies were affected by identity crime, with 1.2 million having their bank account illegally accessed.

In basic terms, not having your network secure is like leaving your car in the city with the doors locked and the windows down and expecting it not to get stolen. If you want to make sure your personal information is as secure as possible, you need to lock up your network as carefully as you would your car!

The best way to protect yourself is to use a ‘layer’ system to increase your defences – by maintaining tight security across all devices and accounts rather than relying on a single layer of protection to keep thieves at bay. And the easiest place to start is with these simple tips:

Up your security
The Stay Smart Online website gives simple instructions for securing wi-fi networks, and recommends turning on automatic security updates for your software and setting it to scan regularly. And always remember to check security settings on websites before handing over personal information and protect credit card exposure by having a low-limit card that you only use for online shopping. Better yet, make it debit card and only sweep funds into it when you know you need them.

Get back to basics
Having passwords on all your devices isn’t much good if they’re easy to guess! Hackers are skilled at retrieving bits of personal information, and if they know simple facts about you it’s easy to crack more obvious passwords. Choose strong passwords that use a combination of letters, numbers and symbols and change them at least every three months, using different passwords for different accounts, computers and devices. From a non-electronic point, shred all paperwork containing personal details, lock your letterbox and keep a close eye on your accounts.

Stop sharing
Social networking profiles can be an identity theft bonanza – while they’re a great way to communicate with friends and family, they can also provide enough info for someone to pretend they’re you. Be cautious about sharing information on social networking sites, and adjust your privacy settings to the highest level – it won’t impact your ability to use sites, but it will make it easier to protect yourself.

A stolen identity can become a serious problem – the losses can be huge and proving that someone else has been accessing your account or taking out loans can be tough. That’s why it’s important to take every precaution with your information. So secure those networks and leave identity thieves out in the cold!

How to have champagne taste on a beer budget

Living the high life on a modern budget can be hard work – and if it comes to choosing between your day at the spa and paying the electricity bill, we all know which has to go. Or does it? Take a look at how you can keep enjoying life’s little luxuries without breaking the bank.

These days, ‘keeping up with the Joneses’ can be really hard work! There’s the caviar, the Ferrari, the Gucci shoes, the villa in Tuscany, the yacht, the personal tennis coach … and by the time we’ve got all that sorted out, finding a bit of cash to pay the bills can be a serious pain in the neck! All right, we might not need to go quite that far in our quest to live the good life, but there’s no denying that having a few little luxuries makes everything more fun. But with the cost of living in Australia on a continual upward spiral, families are searching for new ways to stretch their dollars further – and many are resigned to the fact that they have to make some sacrifices, and give up a lot of the things that really make life worth living.

Or do they? The recent rise in popularity of coupon websites in Australia is proving that it really can be possible to satisfy your taste for the finer things in life and stick to a budget at the same time.

Once confined to shop-a-dockets, voucher books and specialised ‘rewards’ programs, coupons and discount sites are becoming increasingly common – in fact, the market is the fastest-growing sector in online retailing, with one site ranking in Australia’s top 10 online retailers this year.

And what are they offering? Well, you name it! Luxury dinners? There are coupons for that. Expensive beauty treatments? There are coupons for that too. Extreme adventures, holidays, wine, flowers, movie tickets (check out Just the Ticket), groceries (take a look at Off Your Trolley) … if you can think of it, chances are there’s a coupon for it.

As a nation, we’re not shy about internet shopping – online retail spending for 2010 totalled $19.3 billion, and trends suggest that this figure will increase to $33.3 billion by 2015. By now, ‘everyone’ knows that it’s possible to get a great deal online – but coupons remain underused in Australia. Now, as budgets get tighter and technology advances, thousands of Aussies are discovering that wanting to save and wanting to spoil yourself don’t have to be mutually exclusive.

Coupons and discount sites can offer an amazing array of deals, but it’s still important to shop smart and ensure that you’re really getting value for your money. If you’re into saving money, tips like these are going to be just your thing!

Deal or no deal?
Just because it’s cheap doesn’t automatically make it a bargain. Take a good look at the quality of the item and be honest about how much you want it before you part with your cash. Remember that cost really isn’t everything – a slightly more expensive item you’ll use all the time is better value than a dirt cheap one you’ll ‘lose’ in the back of the cupboard in under a week.

Play the field
There are loads of voucher sites offering great deals everyday, and most are free to join. Your best saving possibilities will come from playing the field, so don’t limit yourself to just one. Register for all the sites offering the kinds of deals you’re interested in and enjoy the excitement of seeing what pops into your inbox each day!

Check the fine print
Make sure you understand the conditions of the deal before you hand over your cash. Some of the deals need to have a particular take-up before they become valid, others are only available for limited times or limited sessions – and there’s no point getting a bargain if you can’t use it.

When times are tight, our little luxuries are often the first things that have to go, and doing without just creates more stress for families that are already under pressure. That’s why these coupon deals can be so fantastic – they let us have a bit of luxury without spending a fortune to get it, which makes sticking to the rest of the budget much easier. So get online and get deal hunting – with a bit of savvy shopping you’ll be able to taste the good life and leave those Joneses in the dust!

Aussie Families Missing Out on Millions in Savings

 A lot of funny things happen on April Fools' Day, but the annual adjustment of healthcare premiums that happens on April 1st each year generally isn't funny at all. But it does make it a great time to work on making the best saving on all your insurances – because research suggests that when it comes to great insurance deals, Aussies are really missing out!


Between Ikea’s high chairs for dogs and Virgin Blue’s standing-room-only flights, this year’s April Fools’ Day hit a new high for pranks and jokes. But what’s less funny is that private health cover premiums are adjusted on 1 April each year (no joke!), and this year’s increase pushed premiums up by 5.56 per cent – adding an estimated $821 million per year to the cost of private health insurance. With literally hundreds of dollars difference in the price of health covers, it’s definitely worth shopping around to make sure you’ve got the best deal possible.

And it’s not just health cover. Research suggests that Aussies are throwing away the opportunity to save an astounding $742,558,103 on insurance each year by choosing not to hunt for a better deal.

Finding cheaper policies for your health, home and contents and car insurances with online comparison services is easy – and with that hike in health cover prices, this is a particularly good time to do it. But when you’re hunting down the best deals, remember that the cheapest policy might not always be the best option. A policy is only good value for money if it provides you with the level of cover you need at the most competitive price – a cheaper policy may cost you more in the long run if it doesn’t provide cover for things you really need.

Taking on the ‘big three’ insurances – health, home and contents and vehicle – to get a better deal has never been easier, so take our tips and see if you can put some of those millions in savings in your pocket!

Health
Make sure you’re not paying for cover you don’t need, and ensure that you understand all inclusions, exclusions and conditions. ‘Restricted membership’ funds and group deals can offer better prices if you qualify for membership, so look into these as well. Most importantly, learn how to use your cover to receive all of the benefits you’re paying for: speak to your fund’s customer service representatives to ensure that you’re claiming everything you’re entitled to (only 43 per cent of Australians know what their health insurance policy includes), and if you’re eligible to claim extras such as massage and health and fitness benefits so can use (and enjoy!) these options and really get your money’s worth.

Home and contents
Ask for discounts and consider bundling policies together with one insurer for a lower premium. Data suggests that up to 81 per cent of homeowners are underinsured, so check that your policy covers replacing all of your possessions and the entire cost of rebuilding if necessary, remembering to update the value regularly. If you need to rebuild, you won’t just have to pay for the house itself – you’ll also want a policy that covers you for debris removal, having building plans lodged with your local council and accommodation while they’re putting your home back together brick by brick! Policies vary between insurers, so always check the fine print to find out exactly what you’re covered for, and how you can get the best value from your policy. It’s also worth checking with your insurer to see if there are any small changes you can make to reduce your premium, such as installing fire protection, window locks or intruder alarms.

Motor vehicle
Reduce premiums by taking out ‘no frills’ cover, only insuring for declared drivers and opting for a higher excess. There are also a variety of ways to get a discount on your policy – some insurers will lower the price if you’re over 55, a safe driver or have more than one vehicle, and some companies have begun basing premiums on how much you use the car, which can be a great saving if your spends more time in the garage than it does on the road. Also consider if the value of your vehicle is worth the cost of comprehensive cover, or if you’re better off self-insuring and covering the costs yourself.

The other trick to saving on any of your insurance premiums is to claim only when you really need to – if the claim is close to your excess, consider paying the expense yourself to protect your premium from claim-based increases. There are a lot of big savings out there that you can take advantage of, so consider all your options to make sure you’re getting the most for your money. You always have to watch out for practical jokes around April Fools’ Day, but if you can cut the cost of your insurance without sacrificing the quality, then the only one laughing will be you!

Aussies still getting sucked in by scammers

Scary fiction is fun, but the worrying truth is that identity theft is a fact – and too many Australians fall victim to it. Find out how to keep the scammers and thieves at bay with these simple self-protection strategies.

 




 

Fact: Losses from cyber crime and scams reported to the ACCC totalled $63 million in 2010.

Fact: Scams reported to the ACCC more than doubled from 2009 to 2010.

Fact: 1.5 million Australians had their credit card skimmed, and 1.2 million had their bank account illegally accessed in 2009.

Fact: Scams initiated by unsolicited telephone calls increased almost 700 per cent, jumping from 2,036 reported events in 2009, to 14,144 in 2010.


Here’s a scary story. A teenage girl has taken a babysitting job and is all alone in the house with two young children. All seems normal, right? But then the phone calls start. There’s a guy on the other end, making threats – she hangs up, but he just keeps ringing back. Eventually the girl gets scared enough to call the police and they promise to find the source of the prank calls. But when they get back to her, they’ve got some terrifying news: the calls are coming from inside the house.

Okay, so this probably never actually happened, but like all urban legends, it teaches us an important lesson: you don’t always know who’s contacting you … or where they’re from or what their intentions are. You probably don’t have to worry too much about calls coming from inside your house, but as the facts show, when it comes to your personal information and your money, there really are scammers out there who are out to get you.

With National Consumer Fraud Awareness Week just behind us, now’s a great time to look at how to protect yourself from identity theft – but more importantly, you need to start taking action! Last year Veda Advantage revealed that 70 per cent of us have yet to put basic protective measures in place to guard against identity crime, and as scary as the ACCC numbers are, the true story of identity theft, fraud and consumer scams is probably a lot scarier – it’s likely that there are many people out there who don’t want to admit they’ve been fooled, and the ACCC is just one of several agencies who receives reports about cyber crimes and scams. Who knows how many more victims there are out there?

So how can you protect yourself from cyber crime and stop your name being added to the list of victims? These basic steps are a great place to start:

Monitor and protect
Monitor your accounts and take action quickly if you see any suspicious activity, even if it seems minor. You’re also entitled to see your credit reference file – you can check it for free if you have it posted to you, or you can access it online for a small fee  – so get hold of it and check it thoroughly for errors. Credit report agency Veda Advantage also offers an alert service that will allow you to keep track of any changes to your file as they happen, which will allow you to challenge anything that seems wrong straightaway, and the fee is a small price to pay to know whether someone’s stolen enough of your identity to pretend they’re you and apply for credit in your name.

Know who you’re talking to
Don’t provide personal details over the phone unless you were the one who initiated the call. If you receive an unsolicited call from a company you do business with, request the caller’s details and call the organisation back, but not using the phone number they give you – you could just be calling a scammer back. And don’t follow links you receive in emails, even if you recognise the sender. Some ‘phishing’ scams can be quite sophisticated, so if you receive a warning or special offer, always go directly to the company’s website to verify it. One of our staff received an email like this just the other day – the ‘sender’ was boasting about the great deal they’d gotten on a new iPhone, and all she’d need to do to get the same deal was follow the link. What the scammer didn’t know was that the email address they’d stolen to send the emails from belonged to a child who would never have sent an email like that. Our staffer got away from this scam unscathed, as did the kid whose email had been hijacked, but it just goes to show how easy it could be to get taken in – who knows what that link could have unleashed on her computer if she’d been tempted to click through?


Stop sharing
Personal information is the key to identity theft and one of the biggest weapons scammers have: it helps them to access everything they need to take you for a ride. Don’t post personal information on online networking sites, and if you already have, at least ensure that you’re using the maximum privacy settings that the site offers. If companies, both online and off, ask you to provide any personal information when making a purchase always make sure you ask why they want it. There are some circumstances, such as when you’re opening a bank account, where you’re legally required to part with your info, but often companies just want to build a customer database. And the more of your personal details that are out there, the more at risk you are.

You really can’t always know who’s calling … or emailing … or lurking … but if you keep an eye on your money, a tight grip on your personal information, and report any identity theft as soon as you know it’s happened, you’ll be able to limit both the risk of getting caught out and the damage criminals can cause.

Is Gen Y the Debt Generation

It doesn't matter what generation you belong to, having more debt that you can cope with isn't fun! So whether you're an X, Y or even a Boomer, we have some great tips for taming the credit beast and getting off the debt treadmill!

Gen Y - they've got it all. They're the generation of social networking, Harry Potter, and the iPod. They’re technologically savvy, open-minded and focused on creating a healthy work/life balance. They managed to avoid the fashion disasters of the 70s, faced down the dreaded Millennium Bug and they've got their whole future ahead of them. But unfortunately, Gen Y has something else that's a whole lot less encouraging - an enormous amount of debt ...

They’re not alone: Australia’s love affair with credit is stronger than ever. The latest figures from the Reserve Bank reveal that our collective credit card bill from December 2010 broke through the $49 billion mark, and our average household debt has reached 2.5 times our annual household income.

Clearly, debt is common, but it seems young Aussies in particular really need some great debt management advice to learn how to cope with it
 
Veda Advantage 2009 data indicates that Generation Y are responsible for 37 per cent of Australia’s total consumer credit defaults, despite only comprising 20 per cent of the ‘credit active’ population, with a higher rate of telecommunication and personal loan defaults than any other generation. According to ITSA, 15 to 29 year olds accounted for 18 per cent of people applying for bankruptcy and 37 per cent of people entering debt agreements in 2009. Failure to manage debt on this scale can have serious ramifications – and bankruptcy isn’t the ‘easy’ out many people think it is. Bankruptcy limits what a person can own, where they can work and where they can go for years at a time – and the notation stays on your personal credit reference for seven years. If you’re a young person, this is the last thing you need hanging over your head – but many members of Gen Y just don’t seem to have learnt how to avoid it.
 
The late teenage years are a critical time financially – it’s a time when young people start to bring in steady incomes and take on big financial responsibilities. But it’s also a time that’s littered with ‘debt traps’. If you want to avoid getting stuck, try these simple tips for avoiding some of the most common financial pitfalls:

Go pre-paid
Mobile phone debt is sneaky. Post-paid plans can come with ‘included call’ amounts that can seem impossible to exceed, but these days phones do far more than just make calls – with texting, internet capability and endless options in downloads and added extras, it’s all too easy to eat up your included call quota. And with 83 per cent of teens owning a mobile, that’s a lot of young people at risk. Taking the pre-paid option puts a limit on what you can spend – but remember that just ‘topping up’ your phone every time the money runs out isn’t really a cheaper option. You need to commit to making the credit last for a certain period of time to make the best saving possible.

Think debit not credit
These days it can seem hard to get by without a credit card. Online shopping generally requires you to have one, and everyone’s keen for the simple convenience of just swiping a card to pay. Unfortunately, the combination of high interest rates and easy access to money can cause big problems – 37 per cent of those who entered into debt agreements in 2009 said that excessive use of credit was the cause of their financial woes. That’s where debit cards can be your ‘knight in shining armour’ – debit cards give you all the convenience of credit cards, and access to your favourite online shopping sites, but because you’re only spending your own money, it’s almost impossible to rack up huge amounts of debt.
 
Don’t borrow trouble
Once you turn 18, you’re old enough to sign a financial contract. But before you do, it’s vitally important that you understand all your rights and responsibilities. Whether you’re getting your first credit card, taking on a personal loan, or considering guaranteeing a loan for someone else, read the fine print thoroughly and think carefully about whether you have the resources and discipline to manage the debt. Once you sign on the dotted line, you’re liable – so be absolutely certain you know what you’re doing, and you can afford to repay any loans, before you whip that pen out.

These days it doesn’t matter what generation you belong to – budgeting, money management, avoiding financial traps and taking control of your money is more important than ever. If you can do that (and if the 2012 disaster theories fizzle out like Y2K did!), you’ll be able to create the financial future you really want!

Has the Family Holiday Become an Unaffordable Luxury?

Cheap holiday deals might be just what you need to banish the holiday blues this year!

It's been a tough year for many families, and most of us are probably looking forward to taking a well-deserved break this summer. But with budgets stretched to breaking point, knowing how to get the best cheap holiday deals is more important than ever!

Christmas is over – you've cleaned up all the wrapping paper, washed all the dishes and sent most of your relatives home. And now, what you really need after all the fun and excitement of the holiday season is a nice, long holiday. But the question is – can your wallet take the strain? The last year has brought some enormous financial pressures, and while we might dream about holidays to all sorts of exotic destinations, the reality is that this year’s holiday might just have become a luxury that many families can’t afford. In fact, many of us are peering into our holiday savings account and finding that there’s not be enough in there to take us any further than a camping trip in the backyard!
 
A recent survey revealed that 42 per cent of respondents are sacrificing holidays – going for cheaper holidays or not taking a break at all – as they struggle with the strain of higher mortgage payments. Compounding the problem is the increasing cost of living, which outstripped the CPI in the September quarter.
 
There’s no doubt that things have become tougher, but with a bit of forward thinking you can still plan a family trip that will get everyone excited, without leaving your budget in need of a good, long break! The trick is to use every strategy you can to get more for your money – it might take some time to hunt down the best deals, but when you consider the savings you can make, it’ll be time well spent.
 
There are many ways to save on holidays, starting with these great strategies:
 
Timing is everything
A recent survey discovered that a family of four could make significant savings on a Gold Coast resort holiday just by avoiding the ‘premium’ peak period from Christmas through to 10 January. From mid-January onward there’s typically more flexibility in pricing, although the school holidays are still considered ‘peak’ time. But the best way to get cheap holiday deals is to avoid school holidays altogether – it’s possible to save up to 50 per cent on accommodation costs alone outside this time.
 
Net a bargain
Googling ‘cheap family holidays’ delivers an absolute goldmine of family holiday savings, and you can get even more by registering for newsletters from airlines, railways, accommodation chains, resorts, tourism websites and car hire agencies. Once you know what deals are available, it's worth making a call to the places with the best prices as it's sometimes possible to get an even better deal in person.
 
Let’s make a deal
‘Bonus night’ deals have become very common, as have ‘kids eat/stay/fly’ free offers. If you don’t need to make ‘set in concrete’ plans for your holidays, late deals can be a great way to save – and as long as you’ve got a sense of adventure, leaving things to the very last minute can be a lot of fun! You can also often get special deals through insurance policies, credit cards and roadside assistance memberships, Entertainment® books and shop-a-dockets. And with the current economic climate, it’s always worth checking with your local travel agent to see what cheap, all-inclusive holidays they have available.

Hit the road
If you know where you want to go, does it matter how you get there? You can reduce your costs significantly by picking the cheapest form of transport available. While flying might be fast, it can also be expensive – and taking a car trip together can be a great way to spend time with the whole family, and sometimes seeing the sights along the way can be almost as much fun arriving at your destination (and the kids will have plenty of time to play on their iPods and Nintendos, as well as catching up on the DVDs they’ve missed through the year!)

Pack your accommodation
Camping is probably the absolute best way to have cheap summer holidays – and can be a great way to have a whole lot of fun on a tiny little budget. If tents aren't your thing, it might be worth looking into renting a motorhome or caravan – bringing your accommodation with you can give you a lot more freedom and flexibility to go wherever you want rather than where you can get a room for the night.

By planning ahead and taking the time to get the best deals, you can get more for your money and take the break you need – so you can recover from all the work you put in over Christmas without making your money management work extra-hard to catch up in the new year!