Holidays: How to Save Money.
Choose Your Destination Wisely
In resort costs
It’s not just the upfront cost of flights and accommodation that you need to think about when choosing a holiday. You should also consider the cost of items in resort, such as food and drink.
The Post Office Travel Money’s Annual Travel Costs Report for 2018 showed Bulgaria’s Sunny Beach and Turkey’s Marmaris as the 2 cheapest holiday destinations for in resort costs.
The cost of travel insurance can vary greatly for different destinations, with travel insurance for the USA and Canada being more expensive than other long haul destinations and travel insurance for Spain often being more expensive than elsewhere in Europe.
This variation is due to the cost of obtaining medical treatment for a British national in different countries.
Book Early or Late!
It sounds mad, but you can get really good deals if you book early and if you book late.
Many tour operators offer early bird discounts and free upgrades to those who are prepared to commit to a holiday and book early, at least 6 months to a year in advance.
Alternatively if you can’t plan that far ahead wait until 8 weeks or less before you want to travel, at this point you can often get a deal on what is termed distressed inventory. The down side of this is that choice and flexibility can be limited.
Can You Travel in November?
If you can you could bag a bargain and enjoy your holiday without the crowds. November has no school holidays and some warm weather can still be found in short to mid haul destinations. Airfares are low, hotels are empty and the major tourist sites are not too busy.
Whether you buy your foreign currency on the high street or online, the cost of exchanging your holiday money can vary massively and the pricing can be confusing. Some suppliers will offer a better rate but include an administration charge, others may have no charges but a poorer exchange rate.
Ask ‘how much will it cost me to buy 500 euros?’ This is the only way to get a fair comparison
And remember, never exchange money at the airport.
Pay in local currency
When you are abroad and paying by credit card, if you get the choice to pay in local currency or sterling, always pay in local currency. Otherwise you will be paying what’s called a ‘dynamic currency conversion’ charge which can be as much as 5%.
Holidaying in a Large Group?
Rent a villa or house. Not only is it more relaxed and sociable for groups of family or friends, it is also generally much cheaper than booking hotel rooms for lots of people - and you could get your own private pool!
Don't Forget Travel Insurance
Wherever you choose for your holiday don't forget to buy travel insurance as soon as you've booked your holiday, so that you have cancellation cover in place.