Has the work Christmas parties and family festive fun over the last few weeks left you feeling run down and stuck for cash?

Now that the Christmas and New Year party season is out of the way, it’s not uncommon for people to give alcohol a break for a while as part of their New Year’s resolution, and some now opt for a ‘dry January.’

Not only is this self-imposed drinking ban good for your health, but your bank balance will notice a real difference too, with an average couple estimated to save between £36 and £44 per week.

 

How much money will dry January save me?

Exclusive research for Caxton shows how much money you could put aside by not drinking this January. If you extend your dry January further into 2020, the money saved could be enough to send you on your dream holiday. 

A short 5 week ‘no drink’ stint could bag you a 2 night stay in Amsterdam, however, going alcohol free for 10 weeks gets you the equivalent of 5 nights in the sunny Algarve, while giving up booze for a whole year will save you enough for a week all-inclusive in Montego Bay, Jamaica, come this time next year.

 

Number of weeks staying dry

Money saved*

Holiday possibilities with money saved for 2 people (including flights)

5 Weeks

£218

Amsterdam 2 nights (25th Feb from London Southend)

 

7 Weeks

£305

Prague 3 nights (24th Feb from Manchester)

 

10 Weeks

£435

Algarve Praia da Rocha 5 nights (10th May from Gatwick)

 

17 weeks

£740

Naples 7 Nights (4th June from Gatwick)

 

23 weeks

£1001

Egypt Red Sea – All Inclusive 7 nights (14th Sept from Manchester)

 

33 weeks

£1436

Barbados 7 nights room only (12th October from Manchester)

 

Full Year 52 weeks

£2263

Jamaica Montego Bay All Inclusive 7 nights (Jan 2021 from Gatwick)

 

*based on combined weekly total of 8 pints of beer and 1 bottle of wine per couple from a bar/pub

Research by Moneycomms.co.uk 12th December from Jet2, Easyjet, Tui and Love Holidays websites.

 

Many of us enjoy a drink either to wind down in the evening or while out with friends or family at weekends, but we rarely tally up how much it costs us over the course of a year.

Giving up alcohol for 4 months could let you enjoy a week in Naples this June - that’s where £740 saved on bar bills and supermarket vino can take you according to our research.

Extending the traditional dry January for a further few months or longer might not work for everyone, but a new year resolution that’s good for your health as well as your pocket is easier to stick to if you have a holiday on the horizon.

 

Planning a holiday in advance

Planning your 2020 travel itinerary nice and early helps you bag the best holiday deals – but while you’re at it, don’t forget to check if your passports are still in date and that you’ve got your holiday currency, travel insurance and Caxton multi-currency card  all sorted well in advance too.

To make it even easier to save for a holiday, why not set up a Travel Savings Plan with Caxton to ensure that all your non-alcohol savings are put to good use? It is a great way to steadily build up your travel fund and remove exchange rate uncertainty.