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Going on Holiday? Don’t Give Your Savings A Break!

by Mike

There seems to be a common idea that when going on vacation it is compulsory to spend all your hard-earned money and savings. This attitude is sheer money madness!

The notion that you can’t enjoy yourself unless you return home penniless after a vacation is akin to an urban myth. There is no substance to the idea, but people believe it.

Reducing the costs of your vacation doesn’t necessarily mean compromising on the experience, but it does mean, happily, that you can leave most of your savings untouched. Vacations are great, but being able to pay the mortgage is also useful!

You can start saving before you leave by using a price comparison website such as moneysupermarket.com to get competitive rates on travel insurance, exchange rates, online savings accounts and more.

According to the U.S. Travel Association, the most popular vacations include visiting friends and relatives. If you are offered accommodation, accept the invitation graciously as it will help reduce costs substantially.

Another easy way to cut the price of your vacation is to choose a self-catering option rather than a full-service hotel. Self-catering is seen as the smart move for financially savvy consumers.

Of course, staying in a hotel can be relaxing, but having your own space can be more so, especially if you have children and need to be flexible with mealtimes and bedtimes.

Hotels and restaurants make a high profit margin on refreshments but with self-catering, you can stay in control of your budget. Enjoy picnics at lunchtime for a healthy and inexpensive midday meal.

If you are overseas, buy the local brand of food to make further savings, rather than paying inflated prices for imported goods. The packaging may look different, but the products are generally the same.

According to the US Travel Association, sightseeing, beaches and waterfronts, visiting zoos, museums and national parks are the most popular vacation activities. In the United States, many of these activities are free.

Take advantage of the free resources in each holiday destination. If you are visiting the Golden State of California, Los Angeles has miles of beautiful beaches to enjoy.

If you are visiting Washington D.C., you will be spoilt for choice with free entry, to the many Smithsonian museums, which now offer interactive exhibitions and IMAX theater shows. These days, museums are more like a Disney show than a fusty, old room full of dull displays.

Throughout the world there are beaches, churches, palaces and historical sites that offer free or low-cost entry and so it may be a good idea to choose a destination which has a cheaper standard of living than the U.S.

Destinations could include countries in South America or former Eastern bloc areas in Europe, many of which are breathtakingly beautiful. Your money will go further in these cheaper priced regions.

Combine this with purchasing foreign currency at a competitive price and the result is an exciting vacation overseas but at a reasonable price. What more could you want?

With a little research and these handy price hints, you can have the vacation of your dreams but without the nightmare costs. Bon Voyage!

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{ 3 comments… read them below or add one }

krantcents

A little planning goes a long way. A couple years ago, we went to the UK and I needed to use the ATM. I checked prior to our trip which banks were correspondents so there were no additional fees.

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Dolrdolrbill

My finance and I are getting married in Aug. and are going to Bali for our honeymoon. Taking the extra time to actually find things to do that do not involve spending loads of money has been a point of interest for us. There are temples and beaches to visit and the cost of living there will allow us escape without spending too much, except for the filght. I checked out the travel section on moneysupermarket.com and it is a useful resource for all things travel. Thanks for the resource.

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John Dough

These kinds of tips are a great resource. Many are the times family and friends of mine complain of the high cost of travel. I also prefer the self cater method, whenever on vacation or business trip I frequently stock up my hotel room with sodas and snacks to curb hunger. Picnics for lunch are a terrific idea which I will now start using. Thanks for the suggestion Mike!

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