How to Save Money while on Holiday
You’ve finally saved up and booked that all important, and of course, much needed holiday. I believe travelling is essential and enriches your life. But, being smart and intentional with your money is necessary while travelling. You want to 1. plan your travels well, 2. budget so you've got all you need while you're away and 3. save your coins so that it can last your entire trip.
To show you how to save even while on holiday, here are some actionable tips that will help you visit all the amazing sites, but stay on budget while doing it. I have separated these tips into how to save how to money in preparation for a holiday and how to save money during your holiday.
Here's How to Save Money while on Holiday!
Have a plan and make a budget
Before every holiday, I do this one amazing thing, I put pen to paper and jot down when I want to go away, and I work backwards from there. I believe that planning in advance gives me time to do more research about the country, town and hotel I'm going to. Plus, of course, I want to make sure that I get the best deal on my flight and accommodation. After all, if you can spend less to get there, you have more to spend when you arrive.
You will need to write down how much you would like to spend in total, this includes flights, accommodation, transportation, tours and spending money. This, allows you to see what you can afford and how much you will need to save up.
For instance, I have an upcoming trip to Miami for December 2016, so I've started saving up for Miami in January 2016 (yes, January, I know that sounds crazy).
You need to decide what the budget for your trip would be. For mine it's £1830, broken down by categories:
Flights were £680,
Spending Money £500
Now that I have it all broken down, I know how much I need to put away every month to make it to my goal. You can do the same thing! Follow my four categories above, break it all down and then budget how much you need to put away on a weekly or monthly basis. You may need to forget about a few Friday night outs, but it will be worth it, I promise.
Set up a travel savings account
First set up the amount, that you want to save every month and automate it to a specific saving account. You can name this account, ‘Miami Dreams’; use a name that will keep you motivated to save. Then, keep this account separate from your main bank account, so you will not be tempted to spend the money.
Be flexible with travel dates and time
Be flexible not only with dates you fly, but also with your flight times.
Often airlines have the fewest seats sold mid-week and so will drop the prices to fill the flights, making them cheaper days to fly. Fly on a Tuesday or Wednesday instead of the weekend.
Doing this could save you from anything between £20 up to £100s on a ticket.
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Sign Up to Discount Sites
Sign up for e-mail alerts from comparison sites such as:
You can also sign up to the major airlines themselves, and get alerts when they have flash sales.
Books flights in Advance
Again, planning your holiday in advance can save you money. I booked my ticket to Miami for Christmas 2016 around the end of February/March 2016. During a flash sale alert, I received from BA.
Ticket prices tend to be at their lowest 171 days before departure for international flights and 57 days before departure for domestic flights.
Major airlines post their flight schedules anywhere from 14 months to 350 days in advance.
Rent an apartment instead of staying at a hostel/hotel
I’m not a big fan of hostels, but, I have found a happy middle ground between an expensive hotel and a hostel (where you sleep with one eye open). I found renting an apartment to be the sweet spot. I have stayed in glamorous apartment rentals in a central location found on Airbnb, for the same or similar price of a hostel, and below the price of a one bedroom hotel suite.
An apartment will have all your home comforts, such as a kitchen and a washer and dryer.
Meaning, you can make your own breakfast (saving money on eating out), plus do your laundry before moving on to your next destination.
Hire a car instead of taking taxi’s or Ubers
I remembered travelling to New York and taking taxi’s, for the first two days I was there, and that was like throwing my money out a window. On the third day, I got a map of the subway, a metro card and never looked back.
On this trip to Miami, I have already rented a car as I will be doing some day trips, and this will save us the hassle of figuring out the public transport.
Make a daily cash budget
Doing your research will allow you to determine, how much you can spend per day and stick to it. Try not to exceed your budget by only carrying a set amount of cash on you each day. This will keep you focused and it will be easier to say no, to buying souvenirs or other unnecessary items.
Make your own food
While on holiday you want to indulge and enjoy yourself by having a nice breakfasts, lunches and dinner. But, eating out three times a day can eat into the money you brought on holiday.
This is another reason why I love renting apartments while on holiday, you can make your own food.
You can buy groceries from a local supermarket upon arriving at your destination and make healthy inexpensive meals. This also means you can bring your own snacks while exploring the country.
Apartments are mainly located outside tourist populated area and, you would be eating what the locals eat.
Always withdraw money
I like to carry some form of cash when I travel on holiday. I would recommend comparing currency sites before you travel to get the best rate and convert a set amount in the currency you need. Carrying cash causes you to avoid withdrawing money and being charged a fee of up to 2% by your bank.
Carry a foreign credit card
I always carry one credit card with me on holiday just in case. This is usually a credit card with no foreign transaction fees, which can save you money as there will be no extra charges on your card.