save money on holidays

How To Save Money on Holidays Abroad

It’s no surprise that holidays abroad are more expensive than ever before. In fact, research conducted by TUI, one of the world’s leading travel companies, suggests that Brits are now paying around 18% more for their summer holidays compared to stats from 2019. As we all know, holidays are supposed to be a fun break from our usual lives, which enables us to detach from reality. However, with many budgets tighter than ever, it can be hard for a lot of individuals to get their minds off the idea of money. Many people find themselves worrying about sticking to a daily allowance, and in the process, they prevent themselves from doing things they could have done if they’d saved and planned for the trip. So, here are a few tips you could use to stay in control of your finances this summer.

Spending in Cash

Paying in cash is a much more efficient way of spending money abroad, for numerous reasons. First of all, it is easy to get carried away and overspend while having fun and forgetting about aspects like money worries. However, if you have all of your cash in front of you for the trip, it’s easier to understand that overspending isn’t an option and you really only have what’s in front of you. Overspending is a big problem that everyone faces at some point. Most of the time, individuals are able to take different routes to fund any upcoming bills, although this is not the case for everyone. If you find yourself searching for emergency cash, why not try a short term loan?

Secondly, most banks will charge a fee for drawing out cash from an ATM and using your card abroad. Even though these fees may not be high, they’re still enough to eventually impact your balance.

Staying Closer to Home

As expected, it is common for flights closer to home to be much cheaper than those on the other side of the world. Unless you have a set location in mind that you cannot change, it is always worth exploring new locations and seeing if any of the cheaper options appeals to you. This way, you can travel to a brand new location while saving money. Before booking the cheapest flight you see, it is important to check the prices of hotels and other expenses you’ll have once you arrive. You might find that even though your flight may be a lot cheaper, the accommodation is double the price, meaning you’ll end up spending more than anticipated.

Don’t Fly at Popular Times

Just like the destination, the time at which you want to fly can have a huge impact on the price. In many cases, prices can rise by hundreds of pounds if you decide to travel during the school holidays. Travel companies definitely take financial advantage of the little flexibility families have, meaning that these time periods are sometimes more expensive than others. So, if you are flexible with your dates, this will definitely help you cut costs and save money.