How to Avoid Costly Mistakes on Your Next Holiday
As the holiday season approaches, many of us are thinking about our next adventure abroad. Whether you’re a seasoned traveller or going on your first trip, one thing is for sure: you want to make the most of your hard-earned cash.
Making the most of your holiday budget
According to TSB Bank, holidaymakers can spend more for less abroad by following a few simple money-saving tips. By planning ahead, you can reduce unnecessary charges and make your money go further, leaving extra funds to enjoy on holiday.
First things first: spread your money. It’s a good idea to have a mix of cash and card payments when you’re abroad, as not everyone takes card payments 1. This way, you’ll also have a backup in case one is lost or stolen.
“By spreading the money, you’re also ensuring you have a backup in case one is lost or stolen.”
Getting the local currency before traveling is also a cost-effective option. Exchange rates are usually higher at airports, so do your research and get the best deal. You can order the currency online and either pick it up or get it delivered.
Choose and check your cards wisely. Check if there are any fees to use your card abroad, like an exchange-rate fee or cash withdrawal fee. Research beforehand and use the cards that don’t charge a fee 2.
It’s also important to pay in the local currency when traveling abroad. When you’re paying using your card, you’ll be given the option to pay in the local currency or sterling. Remember to choose the local currency, as if you pay in sterling, you will typically be charged higher exchange rates.
Getting the best exchange rate
Another option to consider is using a prepaid card, particularly for those who want to stick to a budget. You can load a specific amount onto the card and use it abroad. However, be aware of any fees associated with using a prepaid card.
Finally, don’t forget to get travel insurance. Shop around online and get travel insurance before you leave. It’s better to be safe than sorry, and the cost if something does go wrong could be crippling.
By following these simple tips, you can enjoy your holiday without worrying about unnecessary expenses. Happy travels!
