Kids day out: AI expert reveals tips to enjoying summer for less

The UK is set for a busy travel period this summer as over 80% of Brits are planning holidays between June and August, with a whopping £64.2 billion predicted to be spent on dream vacations.

However, could AI be beneficial to families hoping to have a fun, yet, inexpensive holiday this year?

With this in mind, AIPRM shared their insight on how consumers can save money this holiday season by utilising artificial intelligence.

Christoph C. Cemper, on behalf of AIPRM, provides tips on how to utilise artificial intelligence to save this summer.

Ways AI can save money this summer season: 

1. Analyse your spending habits to budget better

Whilst planning a holiday, it is always important to consider how much it may set you back and therefore, ensuring a budget is in place is perfect for keeping on top of your expenses and flexibility. 

An easy way to do this is by utilising AI apps such as ‘Trim’, ‘Albert’ and ‘Qapital’  to analyse your regular spending habits and future financial goals to generate a personalised plan to prepare you for the holiday season. 

However, AI tool, ‘Wally’ tracks spending, cash flow and bills to help simplify budgeting decisions from checking expenses, income streams, savings and investment accounts. If the budget works amongst other expenses and outgoings, there could be extra pennies for enjoying the sun, sea and sand.

2.  Conduct package price comparisons

It is easy to opt for the first holiday package you may see fit, but shopping around can save you a whopping amount of money. However, for many, sitting down and finding spare time to look through different sites may not be viable, so why not use an AI tool to help find the perfect vacation package?

There are a vast number of free AI-powered apps, tools and extensions, such as ‘Eddy Travels’ for flights, ‘Hopper’ for travel deals and ‘PayPal Honey’ for shopping deals, which will happily search for you to make sure you find the best deal at the best value. By doing this, not only will your time be saved scanning the web, but your finances may be better off, and you could be getting an all-inclusive holiday for half the price.

3. Automate your expense tracking

By analysing past transactions, AI-powered apps allow expenses to be categorised automatically through understanding patterns, decisions and elements to cut back for more flexibility on the holiday allowance. Apps such as ‘Cleo’ are the best for a financial chatbot and ‘Magnifi’ for investing.

The app ‘Rocket Money’ is a great tool for managing recurring payments. It tracks all subscriptions and other expenses to allow you to identify which payments are unnecessary expenses. Similar apps also allow users to create customised savings goals by allocating funds into designated accounts automatically, allowing them to build up without taking a toll on your everyday bank account and spending. 

Methodology:

1. AIPRM wanted to share how using artificial intelligence, and similar tools, can help save money this holiday season.
2. All data was collected April 2024, and is accurate as of then.