Planning is key to staying within a holiday budget, but what do you need to consider before booking your family trip abroad?
Almost three-quarters of families overspend on their holiday, according to Post Office Travel Money, with the average household busting their budget by £323.
To avoid making the same mistake, here are six tips it recommends:
1. Look for a resort where the cost of living is low
Holidaymakers surveyed rate Spain and Turkey strongly for value.
Ask your friends and family members for their recommendations.
2. Cut the cost of meals and drinks
Try to avoid tourist hotspots like beachside cafes and restaurants, and instead find places where locals like to eat.
It might work out cheaper to opt for local draft beers and wine instead of international brands.
3. Pick a destination where sterling is strong
Holidaymakers may have booked to travel to the United States after the strengthening of sterling against the US dollar.
You should also consider locations where currencies are pegged to the value of the dollar.
Laura Plunkett, its head of travel money, says: “Despite fluctuations and some uncertainty about sterling when it fell against key currencies earlier in the year, it has now bounced back from its January dip and currently looks stable.
“This is a reassuring trend for holidaymakers planning trips abroad this year.”
4. Consider self-catering or all-inclusive packages
Self-catering breaks mean you can set your own food and drink budgets and scope out the cheapest supermarket options near where you are staying.
Going all-inclusive can also be a good way to rein in costs, but make sure you check what is included in the package price so you do not end up paying unexpectedly for extras.
5. Research exchange rates and avoid fees
Researching the best exchange rates before travelling can be helpful, and you may want to consider a pre-paid currency card to avoid fees abroad.
Alternatively, you could look at banks which do not charge foreign transaction fees.
6. Sidestep ‘pester power’
Parents spent an average of more than £200 on children’s beach items, water rides, ice creams and visits to water parks on their last holiday, according to the survey.
Consider giving children a set amount of pocket money to spend on the holiday.
We’re always looking for tips to help you save money on holiday. Here are some of our other guides:
