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How to save money on holidays abroad

Written byKoyo Loans
First published19th May 2022
  • Look for all-inclusive deals 
  • Take cash and avoid using debit and credit cards 
  • Create a daily spending budget 
  • Travel out of season 
  • Explore destinations a little closer to home 

There’s no getting away from the fact that holidays abroad are expensive. Even when you save up for a holiday in the sun, it can be challenging to keep on top of your daily expenses. So, to help you save money while you’re away, here are some of our top tips for staying in control of your finances when booking a holiday. 

Look for all-inclusive deals 

While all-inclusive deals aren’t always cheaper than other types of offers, they can represent great value for money when compared to standard package deals. Most all-inclusive deals include: 

  • Accommodation 
  • Three meals each day 
  • Drinks (including alcohol) 
  • Transfers to and from the airport 

However, it’s crucial to check the terms and conditions of an all-inclusive deal before signing up, as they’re not always the same. From a budgeting perspective, all-inclusive deals make planning your holiday so much easier, as you know that practically all expenses will be covered when you travel abroad. If you can find a good all-inclusive deal in a location that you like, then it can be a great way to save money on a holiday abroad.

Take cash and avoid using debit and credit cards 

While some people don’t like carrying cash, you will find that converting your money into the local currency before travelling is likely to save you money. This is because most banks charge a fee for using your card abroad, particularly when you withdraw money from an ATM. While you don’t have to change thousands of pounds, having enough cash for your daily expenditure and using your debit card as a backup is a good way to keep on top of your fees abroad. 

Create a daily spending budget 

Whether you opt for an all-inclusive deal or a self-catering break, creating a daily budget is an important part of planning your holiday. Whether it’s £50, £100, or £200 per day, knowing what you have available to spend will ensure you don’t get carried away while you’re on holiday. As mentioned, bringing the necessary cash with you and restricting yourself to a specific amount each day will ensure you stay within your spending limits. 

Travel out of season 

Which found that booking an all-inclusive holiday out of peak season can save you as much as 40% on the total price of the trip. If you’re not restricted by the school holidays, it makes sense to plan your dates at different times of the year. You will also find that offering a travel agent or airline flexible dates will make your travel cheaper, as you can travel on days that aren’t quite as busy. So, unless you have to travel during the school holidays, plan your holiday for the fringe season, and you will save a huge amount of money as a result. 

Explore destinations a little closer to home 

Although you can get better value for money in places like south-East Asia and southern Africa, flying to them in the first place will cost you more money. As such, it’s a good idea to look for value a little closer to home. Up and coming tourism destinations like Albania and Bulgaria are cheap to fly to and affordable when you’re there, in comparison to costs in western Europe. Being flexible and willing to explore new destinations that are a little closer to home will help you save money, both on travel and on spending money when you arrive. 

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