As we get further into winter, many people are dreaming of warmer climates and much-needed breaks.
If you’re feeling the weight of the gloomy UK weather, Martin Lewis, the well-known money-saving expert, has revealed a brilliant way to make the most of your annual leave.
In his latest newsletter, Lewis shared a clever trick that can help you enjoy more days off work, and with Easter aligning nicely with the May bank holiday this year, there’s never been a better time to give it a go.
How to Turn Your Annual Leave into Extra Time Off
Most UK workers are legally entitled to 28 days of holiday each year.
However, by strategically combining these days with weekends and bank holidays, you can double the number of days you have off.
Lewis highlighted how this year is particularly ideal for this hack, as Easter falls just two weeks before the May bank holiday.
In contrast, last year Easter was five weeks earlier, which made it harder to take advantage of the overlapping holidays.
Lewis recommends booking off a combination of days to extend your break.
For instance, by taking annual leave from Tuesday, April 22, to Friday, April 25, and Monday, April 28, to Friday, May 2, you can bridge the gap between the April bank holiday and the May one, creating a long stretch of time off.
Other combinations, such as taking April 11 and the week from April 14 to April 17, can also turn just five days of leave into 11 consecutive days off.
A Bumper Holiday with a Longer Stretch of Leave
Martin’s holiday hacks don’t stop there.
If you want to turn a two-week holiday into a longer break, Lewis suggests booking time off between April 22 and May 9, effectively turning your annual leave into a three-and-a-half-week getaway.
By planning strategically, you can maximize your days off and get the most out of your annual leave.
The Best Times to Book Your Flights and Accommodation
After covering holiday hacks, Martin also shared valuable travel advice for booking flights and accommodations.
For those seeking package holidays, booking at the last minute might save money, as prices can drop significantly within eight weeks of departure.
However, this comes with a downside: the selection is often limited.
When it comes to booking flights, Lewis recommends planning ahead.
Many airlines release tickets up to a year in advance, and these early releases tend to be more affordable.
For a traditional two-week holiday, he suggests considering package deals as they often come with added benefits like ATOL protection, which ensures you’re refunded if something goes wrong.
Saving Even More on Package Holidays
If you’re leaning toward a package holiday, Martin also shared a helpful tip: call several travel agents to compare prices for your preferred destination.
This simple act could save you up to five percent on your booking.
By being a bit proactive and researching your options, you can make sure you’re getting the best deal.
Martin Lewis Breaks Down Financial Benefits of Marriage
In addition to his travel tips, Martin also explored the financial pros and cons of marriage.
He pointed out that fewer people in England and Wales are getting married, with the number of married couples dropping below 50 percent for the first time in this decade.
However, he emphasized the financial advantages that married couples and those in civil partnerships enjoy, especially in terms of tax and financial benefits.
For example, married couples can benefit from the Marriage Tax Allowance, which was introduced in 2015.
Additionally, when one spouse passes away, any inheritance left to the surviving spouse is not subject to inheritance tax.
Lewis also explained how married couples can utilize capital gains tax allowances more effectively, allowing them to reduce their taxable profit on certain assets.
Protecting Your Future with Marriage Benefits
Compared to cohabiting couples, married couples are better protected if their relationship comes to an end, and they also enjoy tax advantages when it comes to things like inheritance and capital gains.
As Martin explained, these benefits aren’t available to couples who live together without being married or in a civil partnership.
By breaking down these advantages, Martin encouraged couples to explore how their relationship status could impact their financial future.
Whether you’re considering marriage or already married, knowing how to take advantage of these benefits can help you make smarter financial decisions.
With these tips and tricks, Martin Lewis has provided a useful roadmap for making the most of your time off and your finances, offering both practical travel hacks and financial insights for a brighter future.
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