Saving for a Butlins family holiday
Butlins holidays are great fun for the whole family, with leisure and entertainment facilities typically including shops, restaurants, bars and fairgrounds; meanwhile, cinemas, swimming pools and nurseries give mums and dads a break from the kids and more.
Hiring a caravan at one of the many Butlins sites, which usually include necessities such as electricity, gas and passes for access to the main complex, means having everything one could wish for to keep the whole family side by side.
Preparing for a holiday by getting some savings together will mean being able to make the most out of the experience without having to watch every penny, which is sadly often the case for many families, especially considering the current financial difficulties many have to deal with. Putting a little bit away each month can make a whole lot of difference, and there are many opportunities to do so at the best possible savings rates, allowing for a little investment to grow into a sizeable holiday fund.
Some of the best opportunities of making the most out of available funds are offered by individual savings accounts. These offer excellent AERs - the best currently available on the market - as well as being tax free. To ensure these remain tax free, an upper limit has been applied, which should not really present a problem when saving for a holiday. There are various options, ranging from instant cash through short term and medium term to long term fixed rate choices.
Some of the best ISAs currently on offer by varying providers carry, for instance, rates of 3.05 and three per cent on instant cash options, which are more suitable if access has to be possible. These have a low minimum deposit of only £1, making them much more affordable for many families.
The best short-term rates available at the moment include, among others, AERs of 3.35 per cent for an investment of £500, or 3.3 per cent with an investment of £100. Medium term options currently offer top rates of 3.75 and 3.7 per cent, with deposits of £500 or £1,000 being required respectively. The top rate on a term of five years, for example, is 4.4 per cent. This choice also requires £500 to be invested.
Deciding which of these will be the most suitable solution will require careful and thorough comparison of the available choices, ensuring that all possible factors, such as requirements, benefits, etc, are also taken into consideration, as opposed to just looking at the rates offered.
Children tend to think money grows on trees while on holiday, so it might be a good idea to get them started on saving some of their pocket money towards the holiday. This will not only teach them about saving as such, it will also make life a little easier for their parents. There are some excellent opportunities when it comes to savings for children, with some good rates being offered, too. An instant access account for a child under 16, for instance, can be opened with just £1 and has a rate of three per cent.
This option allows them to make as many deposits or withdrawals as they please, although it is naturally wise to encourage them to withdraw as little as possible in order to accumulate funds for the holiday, or maybe to treat themselves to a special purchase after a particular amount of time. A one-year fixed rate children's account with a minimum deposit of £10 offers an AER of 4.6 per cent, but funds cannot be withdrawn for the duration of the term. While other similar deals require regular monthly payments in order to avoid closure, this particular offer allows for two payments to be missed.
Long-term choices offer an ideal opportunity to save towards a child's education, too. Alternatively, funds to provide a lump sum when the child reaches 18 years of age could be accumulated by making use of the brilliant rates offered by some of these long-term options.
Again, the best way of coming to the most informed decision is to discuss requirements, examine the various choices carefully and compare their varying features and AERs. Using comparison sites will help to reduce the time this kind of thorough comparison will take by showing the top choices side by side.
Taking advantage of these sites means saving time, as well as getting the necessary advice on what is currently available and how it is rated by experts. Being able to see the main features of each option at a glance like this allows for much easier, quicker decisions without having to fear overlooking particular terms or conditions - something that can easily happen when looking at different opportunities individually.
