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Personal finance expert shares 7 tips on how to save money on your holiday this year.
Reading Time: 4 minutesPersonal finance expert shares 7 tips on how to save money on your holiday this year.
The cost of taking a holiday abroad has been predicted to rise by an average of 10% in 2024, and the Post Office’s 2023 Holiday Spending Report revealed that 78% of holidaymakers planning to travel abroad were worried about the cost-of-living crisis at home.
According to data released in January 2024, the current economic situation in the UK is the reason a quarter of holidaymakers are either cutting short or scrapping their holiday plans altogether.
Whether you’re adventuring abroad or holidaying on home turf, Dan Whittaker, a personal finance expert at little-loans.com, shares 7 tips on how you could save money on your travels this year.
When travelling abroad
- Free child places
“TUI and Jet2 are just two of the holiday giants who offer a limited number of free child places on their package holidays to a range of destinations,” Dan says. “Places tend to get snapped up fast, so it might be a good idea to book early, if possible. If you’re searching for a holiday online with TUI, select the ‘free child place’ option when filling in your holiday criteria. The Jet2 website automatically shows you packages with available free child places.”
- Swerve the extra costs
“When booking flights, try to resist the temptation to pay for additional extras, such as speedy boarding,” Dan suggests. “Whether you board first or last, the plane is still going to take off at the same time! If you’re not travelling with children, you may also wish to reconsider paying for seats together, especially if you’re only flying short haul.
“If your flight doesn’t include the cost of baggage, have a think about whether this is something you’re really going to need. Many airlines offer a generous hand luggage allowance as part of the fare. If you’re jetting across Europe for a long weekend, weigh up your options and look into whether you could get away with just hand luggage.”
- Weigh your case before you go to avoid airport costs
“Weigh both your hand and hold luggage before you head to the airport. Going over on your allocated allowance is likely to result in airport charges – not the best start to your holiday. If you think you’re going to go over, it may work out cheaper to add extra allowance in advance, rather than at the airport. This can usually be done via your booking confirmation or travel agent.
“Some airlines allow you to pool your allowance across your travelling party. For example, if both you and your partner have an allocation of 15kg each, you might be able to get away with a 17kg bag if your partner’s weighs in at only 13kg. Remember though, this doesn’t apply to all airlines – be sure to check the terms and conditions of your flight details when you book or ask your travel agent for further information.”
- Data roaming charges abroad
“Find out your data plan before you leave the UK to avoid being stung by roaming charges. Currently, O2 are the only network to offer free European roaming up to 25GB, enabling you to use your texts, calls, and data in the same way you would on UK soil. However, there are some restrictions to be aware of,” Dan warns. “Not all European countries are included in the plan. You can check out a full list of eligible countries and read the full terms and conditions on O2’s website.”
On staycation in the UK
- Choose your staycation location
“It may be an idea to compare accommodation prices between the destination you’d like to visit, and towns situated nearby. Staying outside of popular areas may dramatically reduce the overall cost of your accommodation. For example, a 3* bed and breakfast centrally located in the popular seaside town of Scarborough totalled £459* for two adults in August, whereas similar accommodation over the same dates situated down the road in Robin Hood’s Bay costs £380.* This is a massive saving of £79.”
- Eat in
“While cooking may be the very last thing you want to do on holiday, dining out at restaurants every night can soon eat into your budget. Research released in September 2023 predicted that those holidaying in the UK can expect to spend around £12-£16 per person on a budget meal at a pub or café, and between £30-£35 at a mid-range restaurant.
“Don’t feel as though you have to commit to spending hours in front of the hob every night – you can save money by stocking up at a nearby supermarket and thinking outside the box when it comes to mealtimes. We’re imagining picnics on the beach, hearty homemade sarnies mid-hike, and BBQs under the stars. Bliss.”
Remember to always be responsible around BBQs and, to avoid wildfires, make sure that this is a permitted activity in a specifically designated area. You can find further information about staying safe and protecting your surroundings here.
- The little things
“It can be easy to think that we have to cram-pack our holidays with pricey days out and activities, but this doesn’t need to be the case. Often, the best times are created from the simplest of moments. Fortunately, the UK is blessed with an abundance of stunning countryside. Walking and exploring the local area on foot is also a great way to make the most of your jollies without spending a penny. You can check out Visit England’s guide to free things to do around the country online, as well as view what Scotland, Wales, and Northern Ireland have to offer.
“Wherever your wanderlust takes you, there are plenty of ways to make the most of your staycation on a budget. Kids are generally happy to spend all day on the beach, indulging in the little things, such as building sandcastles and exploring rockpools.
If you’re worried about money, it may help to remember that, quite simply, holidays are all about switching off from the outside world, spending time together as a family, and making unique memories.”
Little Loans has shared tips on how you could save money on your holiday in 2024.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.
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