Holiday cost as a percentage of income?

[Louderthanblooms]

How much do you spend? And do you try and keep it within a certain budget or percentage of your income? I know, I know, it’s all relevant and different priorities but the reason I ask is because my eldest starts school in September so holiday costs are going to get silly.

The last couple of years, I’ve managed to get absolute bargains, where the four of us have gone away to amazing places for about £2k for the whole family (Europe/ sc/ outside hols for one week) These days are over sadly but it got me thinking, how much do people spend on holidays proportionate to their income. ChatGPT suggested 10% of income, which seems a lot!

we don’t have any debt aside from the mortgage and have savings but I don’t want to raid that for holidays. I would like to save monthly for the next summer hol (or book and pay monthly) but I don’t know what price bracket I should be looking at.

we’d be thinking Europe in summer hols for a week.

thanks!

Around 10% of income.
If I had my time again I wouldn’t hesitate to take my primary school kids out a bit more. We took my eldest out in year 5 for a week and it made absolutely no difference at all. We didn’t in year 6 for various reasons and then it was too late. Had I known how very little difference it made I would have done a week a year.
A few of my friends did every year for permitted reasons and their children seem unaffected.

Probably does work out about 10% of income I'd say

Why does it matter what other people spend?

You need to think about where you would like to go, and whether you can afford that. It doesn't really matter what other people do does it??

50%

is that gross or net income?

Holidays are definitely going up in cost, we always try and look for free child places but even then it's more now. Usually I aim for less than £3k for a hol, although that may end up increasing to £3500 with how costs keep rising. (This is for foreign holidays). I've never taken % of wage into account, its more based on what disposable income I have each month to pay off the Credit Card or savings to pay for it.

It really is going to vary though OP.

I don’t know what % we spend, but we don’t have a car, our mortgage is low and we don’t have any childcare costs or school fees, so we probably do spend a fair amount as that’s our priority (apart from pensions).

I was thinking 10?!! But actually it’s probably not far off that net. Although this year we have done London for 6 days with two teenagers and that has worked out about 5% and has been brilliant. Hot as the sun obviously but teens have really enjoyed it.

we Have just spent 3k for 10night in the Balearics modest sc nothing fancy but certainly not roughing it and about 2.5k spends… most lunches were cold meats/baguettes at appartment for a break from the sun and every evening meal out but 4 meals, drinks endless icecream and cocktails soon adds up we used to go on 2 x abroad holidays a year but now restricted to school hols it’s down to 1 but we are lucky I find to have that as we earn well and even that seems pricey for me

Sorry you asked % I would say 5-10% of take home by time you have added any weekend away costs into the mix

We do eurocamp twice a year, try get it for £1200 with car hire and flights. Our net income is about £75,000 so 2400/75000 =0.032 so 3.2% which I think is pretty good. We just aren’t fussed by accommodation now we have kids.

I was initially thinking 10% sounds insanely high but actually we probably spend more than that if we add up all our family travel over the year, especially if you include activities, eating out etc., and we don't do anything particularly extravagant.

Our summer holiday was approx a month’s (for me) pay

About 20% but I have very low outgoings. Travelling and holidays are my priority expenditure. I drive an 11 year old car and never have takeaway.

We save £500 a month towards holidays and spends which I think is around 5%. But may add a bit extra if DH gets any bonus.

It definitely doesnt go as far as it used to though, 3 of us recently had 2 nights in London and even before any spends the train and Premier Inn set us back £600.

Would come out as about 12% including everything.

Is your concern about taking DC out of school due to fines or worries about what they'll miss? If the latter, there are options.

Household income is 7480 ( with no overtime) and we save 500 per month into our holiday fund. So that’s approximately 7%

I would say about 15-20% spread over 2 holidays. We normally do 7-10 days in the summer somewhere hot, then either a few weekends or a caravan park type holiday in one of the other school breaks. We have a very low mortgage, no debt and prioritise our holidays.

At least 10% maybe even 12-15

I’d say 10-15. But we are debt free.

My income after tax single parent is 130, 000

This year euro camp
500 for cabin and 600 flights

Xmas will be Disney 2k

I just built a house and have to finish the outside hence why I went for a cheaper option this summer in the camp which I booked on Black Friday sale

Thank you so much everyone! It’s really good to see how other parents work it. We absolutely love Eurocamp too. I think part of my anxiety started when I saw that this year’s camp was about 4x more in the hols (and I wouldn’t rule out paying it, as it was excellent!).

I think a lot depends on age & lifestyle. We have primary age dc & save quite a bit for them, plus save for ourselves as I don't want to be waiting for a pension at 70!

I reckon annual budget is 5-6k which is approx 4% of income. We do have access to holiday homes though.

5% of our yearly net household income. Not including days out etc, just holidays.

About 20% of net income on 'holiday/trips' in general - anything with an overnight stay basically.

Always one 'big' abroad holiday of about 10 days in the summer, then a week in a UK cottage or similar and several weekends, plus camping when we can. Last year we also squeezed in 4 nights to Spain for me and dh which is the first time we'd been abroad without any dc for 16 years!

We prioritise experiences and we're debt free. Yeah i'm sure we could put it towards overpayments or pension or whatever but life is for living too.