Saving on your Summer Holiday!

With Summer well and truly here, you might already have your holiday booked and ready to go. Perhaps you’re heading off very soon. But did you know that there are ways you can save still?

Here are some top tips on how to save whilst on holiday, so you’re not left a bit dry at the end of the month or get carried away!

Pay with local currency and with the right card!

If you’re paying by debit card, ensure you’re using local currency rather than converting the transaction to GBP. This way you avoid being hit with worse exchange rates. Also, before you go away, check whether your bank charges a fee to use your card abroad, as at times, they can often be expensive, around £1.50 or 2.95 per cent!

Starling Bank and Monzo debit cards offer fee-free overseas purchases and ATM withdrawals when using your debit card abroad - however, Monzo may charge fees on ATM withdrawals depending on what kind of account you have, and where you're travelling. If you opt for a travel credit card instead, Halifax Clarity, Barclaycard Rewards and Virgin Money Travel credit cards work out cheapest. You also have additional Section 75 protection if something goes wrong!

Don’t exchange currency at the airport

Prepping for a holiday can be stressful with all the packing, shopping, going through your inventory… sometimes other things can fall by the wayside, such as your currency. Did you know that exchanging your currency at the airport could cost far more than using a competitive high street outlet.

Airport bureaux de change rarely offer the best currency exchange rates as they have a 'captive audience' of holidaymakers. So, don’t allow your currency to fall by the wayside! It could cost you.

Also, ensure you shop around when it does come to buying currency if you can. Avoid high street banks, as they often charge more, and some may not even offer the service unless you bank with them.

Be Aware of Data Roaming charges!

Since Brexit, many phone providers have removed the provision for free roaming in the EU and the cost can vary between different networks. Ensure you’re aware of what charges you might incur for using your data abroad to avoid any unwanted bills when you come home. Get in touch with your provider or do some looking around to see if you pay for any roaming add-ons already. If not, you can see if there are any you can add on! Some providers also allow users to use their UK bundle at no extra cost, including Giffgaff (capped at 5 GB for EU roaming), O2, Smarty and Virgin Mobile - so if you're looking for a new mobile provider, it is worth checking the roaming policy on offer!

Hire your Car in Advance!

If you’re hiring a car whilst abroad, ensure you do so in advance as due to increased demand in recent months, brokers have ramped up their prices meaning that the later customers book, the more they'll pay. So, if you're travel during the peak months, make sure you book your car as soon as you can, preferably at least two months even.

Also avoid 'pay on arrival' options, as some companies might choose to cancel and take a more valuable booking as rates rise. With this in mind, it is worth 'locking in' a deal by paying when you book, either by paying in full or choosing a company that takes a deposit and guarantees the booking price! Shop around.

Also, beware of some companies charging over the odds for added extras such as sat-navs, child seats and so on. We suggest downloading a free app, such as Navmii, before travelling, which can access maps offline, and checking with your airline provider if you can take a child seat for free. Some will allow it!

Factor Tipping into your Budget

Tipping culture can change depending on which country you’re in, so ensure you’re in the know before you get there and factor it into your holiday budget. For example, if you’re jetting off to the USA, you’re often expected to tip and it’s normally at 15%-20% of your bill. Say you’re dining in New York, a three-course meal for two people with wine will cost, on average, £74, with a tip being an extra £15. Bar staff also expect $1-2 (75p-£1.50) per drink. So, those costs start to add up!

Shop Around for Airport Transfers before you travel!

It is worth comparing the price of transfers from your airport before you get there, as generally, hopping into an un-booked taxi can be more expensive than pre-booking in advance. Skyscanner provides pre-book prices of private taxis, shared shuttle buses and coaches, as does GoCompare, HolidayTaxis and Hoppa. You can enter the details of your arrival airport, destination, date, time, and party size, and will be given a list of what's available!

At the end of the day, planning is your greatest ally when it comes to going away, and don’t just stop at the holiday itself. Consider what costs you may incur whilst you’re away and try your best to plan for those things. Whether it’s tipping, roaming or even unexpected potential costs.

Happy holidays, and please ensure that you’re not breaking the bank whilst you do.

Need a loan to help you in your holiday plans? Why not take out a personal smart loan with us? With no early repayment penalties, fixed repayments for up to 60 months and a quick and easy application, why not spend less time worrying about the cost of your holiday and more time doing that all important planning!