How to not get carried away spending on the May bank holiday weekends

What is it about bank holiday weekends that seem to make it so easy to spend an absolute fortune? Regardless how fun they are and how nice it is to have an extra day off work and school, whether you’re 23 and spending three days in a pub garden, 40 and trying to keep the kids occupied for an extra day, or 65 and going overboard in the garden centre, bank holidays can be money pits. Especially when we have two coming up, back-to-back (the early May bank holiday on May 4, and the spring bank holiday on May 25).

Personal finance expert at Boundless, Lynn Beattie (aka Mrs Mummypenny), notes that the cost of living crisis doesn’t help, neither does the compulsion to ‘keep up with the Jones’”. “The biggest thing with all of these kinds of events is the pressures of social media,” says the mum of three. “It’s the demands on people to be doing something more exciting than other people, and something better than last year. It’s that ongoing need to be doing better, and it can end up costing more.”

Fortunately, unlike during the winter holidays, “the weather’s nicer, and at least when it’s sunny, there’s a lot more opportunity to go and do cheaper stuff,” she adds.

Here’s how to still enjoy the bank hols, without going bankrupt in the process…

Have a budget

“Always know how much money you can afford to set aside to cover what you want to do,” says Beattie. “That’s going to give you some idea of what you can go out and do.” Moneyplanner has one you can fill out online to make it nice and clear.

Get everyone on board

“Talk to the people you’re spending the time with to see what ideas they’ve got,” says Beattie. “I’ve got three boys, and I always think it’s quite nice asking all of them and coming up with a bit of a consensus, some agreement as to what you all want to do, and then you go, ‘Right, what can I do to save money on this?’”

Max out memberships

“A really expensive thing to do is a day out with family to an attraction, typically, but there’s always ways to save on that,” says Beattie, who recommends using any memberships you’re signed up to, or vouchers you can access, to reduce costs. Did someone buy you a National Trust or RSPB membership for Christmas? Was there a coupon in the paper, or a voucher code you saw online? “There’s all kinds of attractions in London where, if you get the train there, you can get children’s tickets for free,” she adds. “It’s just doing some research on the place you want to go to before you go, just to see what kind of discounts are available, because you will always find some kind of discount.” Never turn up somewhere cold, as you’ll almost certainly end up paying full whack.

Take a packed lunch

Little things, like taking a packed lunch (despite the kids – or adults – moaning about it) can slash your spend. “Avoid the gift shop at the end, and my little trick for ice creams, rather than getting an expensive [one] from an ice cream shop, go to a little Tesco or Co-op nearby and buy a box,” says Beattie. “It can end up £10 for three of them from the ice cream van, or £3 for three from the shop!”

Skip the pub

Although idyllic, you can swap the pub garden in the sun, for your (or a friend’s) garden in the sun instead. “I went out at the weekend, to a day rave, and we easily spent £50 each on drinks, where you could probably spend £50 between four of you if you just did it around each other’s houses. Take a bit of food, a bottle each, and you’re sorted,” says Beattie. Alternatively, just have one at the pub… it is possible.

Stay home

You don’t have to decamp to the pub or go on grand days out – there’s a lot to be said for just enjoying an extra day at home. “What’s wrong with going for a walk to the woods or going to the local park, going to the river, or for a walk on the beach?” says Beattie. “There’s this pressure to be going out and doing stuff that costs money, but you can just enjoy the nature and the flowers and the animals that we have around us.”