Given that money is still tight all round, making sure you make the most of your cash is vitally important so you can have the best time
You’ve made it through the endless winter. You’ve changed your holiday destination plans after worries about the conflict in Iran kicked off.
You’ve managed to make your budget stretch as far as it can to allow for rising prices. Finally: it’s time to go on holiday.
But given that money is still tight all round, making sure you make the most of your cash is vitally important so you can have the best time. Here’s my guide on how to make your holiday cash go further.
Start by making a holiday list
In the same way that we overspend when we go to the supermarket hungry, we tend to spend more when we haven’t planned out everything we need for our holidays. So start by making a holiday list.
Write down everything you need to pack and divide up the list in to; clothes, footwear, swimwear, evening outfits, electronics, chargers, adaptors and cables, medicines, currency and key documents. This is where the list will prompt you to put in the flip flops or beach bag you’ve forgotten.
Buy some holiday things you won’t use often second hand to save some cash. Remember that lots of toiletries will weigh down your bag so consider buying the basics abroad or at the airport. A good suitcase weight measurer is essential though, as the prices for overstuffed bags can be extortionate – and some airlines are really clamping down on weight limits.
Pre-book your excursions
A bit of spontaneous fun on holiday is great, but bear in mind the ‘must do’ tourist tours and attractions book up really quickly and are often full by the time you arrive at your destination. There are loads of offers online, though check with the hotel or holiday company first to see what deals they have. However, don’t assume that you’ll get the best deal from them – check the standard charges online first.
Some excursions are a distance from your destination, so factor in travel and what time you’d have to leave in order to get there on time too. And if you’re spending the day in an outdoor location, like a theme park or water park, don’t forget to take headgear and sun cream! Oh, and if you’re taking part in risky adventures, you’ll need to up your insurance to cover ‘adventure sports’.
Share your suitcase
Low-cost airlines have massively clamped down on cabin bags recently. Costs are approaching £50 for advance bookings and can easily top £75 on the day.
Your cabin bag must meet the dimensions of the individual airline too – there is NO standard measure for cabin bags, no matter what your bag says on the tag. Some airlines are being exceptionally militant on the size of the bag when it’s full too. You will be asked to put the case in the ‘bag prison’ at the boarding gate and you will be charged if it doesn’t fit. Some airlines are weighing cabin bags too.
So how do you save cash? Well you may find it’s cheaper to share a hold bag between two people. If you book a few weeks before travel, a 23kg bag might cost around £30 to £40 – which works out much cheaper.
Spend smart on your cards
If you have a ‘traditional’ debit card from a high street bank you could end up spending a fortune in fees. The average family of four spending on a debit card for a week abroad could incur around £200 in charges, fees and poor currency conversion rates.
Though some newer online banks have good exchange rates for spending abroad, or won’t charge you a fee per transaction. You could also take out a free travel debit card which gives the best daily exchange rates and charges no fees. Finally, some credit cards have fantastic currency exchange rates – but make sure you pay the card off straight away.
As a general rule, try not to withdraw cash from an ATM at your destination, the charges can be more than a tenner when combined. And never withdraw cash on your credit card – it sends a message to the card provider that you are in financial difficulties and therefore a greater risk for future lending.
Don’t buy cash at the airport
By far the worst rates of exchange lie in wait for unsuspecting tourists at the airport. The same goes for changing back your cash when you return. You may actually get less than a pound for one Euro at the moment!
If you haven’t been to a travel currency exchange for a while, I’d avoid the ones on the high street or at your bank. You can find the best rates on money comparison sites online before you travel on sites like MoneySavingExpert.com.
The online currency firms will post you the cash, though make sure you’re in to sign for it!
Factor in airport costs
Airport parking can cost you a fortune, so have a think about ditching the car and getting the train to the airport. Make sure you factor in what time you have to be checked in though, and avoid late flights where you could end up stuck waiting for the first train!
When travelling to or from the airport, always look online to see what the average cost is. When in a different country, pre-book your cab, don’t get it at the airport. That way you control the price you pay and have an option to complain if you are ripped off. Check that you are paying up front and not in cash on the day.
Airline shuttles can save you quite a bit of cash, but they can often be hard to find and can be a bit stressful if you’re trying to squish your family on to a coach with a zillion other travellers. Check to see if the hotel has its own shuttle.
Slip away from the tourist traps
Everything is more expensive this year, including restaurants. The ones lining the big tourist areas can charge two to three times more for a meal – often of middling to poor quality. Hit some side streets and look where the locals are eating and save some serious cash (and get a better meal).
Watch out for car hire rip offs
Car hire companies are notorious for overcharging. So photograph or video record your vehicle from every angle, including the boot before driving off to avoid damage claims. They will try to sell you insurance policies covering your liability if the vehicle is damaged – and many often falsely claim for non-existent or minimal damage.
These policies can cost up to £200 or more. But if you buy a comparable one online after reserving a car, it’ll cost you around £30. Don’t let them stitch you up with a car upgrade either. Check in advance to confirm they have the model you booked. If they change the vehicle, ask for the insurance for free.
- Martyn James is a leading consumer rights campaigner, TV and radio broadcaster and journalist
