The hunt for holiday savings – tips on cutting the cost

Families heading off on trips this year are being offered tips to help keep costs down. 

In light of a recent survey, travel insurance experts from Quotezone.co.uk have shared their thoughts on how to stay on top of holiday costs.

Quotezone’s latest survey took a temperature on travel expenses, asking holidaymakers about any financial concerns they might have ahead of any upcoming breaks to the sun.  35% said they were concerned they normally spend more than they intend to while away on holiday with 17% not able to stick to a budget and 45% not planning ahead for any additional costs.* 

With an expected surge in travel this year, whether in the UK or abroad, the experts researched some money-saving tips to help travellers enjoy and stay on budget.

Travel insurance expert Tiffany Mealiff at Quotezone.co.uk says:  “It’s understandable that holidaymakers are trying to find new and cheaper ways to get away to the sun and have some well-earned family time.  We’ve shared some suggestions to help keep on top of budgets and make money stretch further. 

“Whether you are planning on enjoying a staycation or heading abroad for a sunny holiday, many of us are feeling the pinch and are concerned about spending. 

“Holidays can bring lots of hidden costs, expensive activities for the kids and meals out. Hopefully our tips can help free up some extra cash for your travel spends.”

Here are Quotezone.co.uk’s tips for a bargain hunting holiday: 

1.Self-catering

The self-catering option on a holiday could help lower costs.  Normally the cheapest accommodation option, it offers flexibility to shop around for meals and groceries – especially if you’re travelling with picky eaters.

2.Currency 

If you are heading abroad, give yourself plenty of time to shop around for the best deals on currency – leaving it until the last minute at the airport can sting you when it comes to exchange rates by as much as 10%. 

3.Budget-friendly activities 

Ahead of your trip, research budget-friendly or free attractions to visit at the location and consider buying tickets in advance to find savings. Putting together an itinerary of activities that won’t break the bank is a great way to keep within budget while you are away. 

4.Beware of all the extras

Flights in particular seem to have increased the volume of add-ons needed after the original quote price – with priority boarding, seat locations and various cabin bag sizes often fluctuating the initial costs quite dramatically.  It’s important to be wary of comparing airlines or hire car companies without working the quote through to the final price.

5.Make travel money go further 

Prepaid travel cards designed to be used abroad are a good way to manage your budget whilst away. If taking out cash at an ATM machine abroad, always select the option to withdraw in the local currency or else you could be charged for a higher exchange rate. The same goes for spending money – if given the chance, choose to spend money in the local currency on card machines.

6.Plan for a hidden budget

This could include taxis or airport transport, tipping, tourist taxes or parking payments. Factoring these in at the start will help you create a more realistic budget – checking customer review sites for your destination can usually help uncover any surprises.

7.Carry out vehicle checks 

If your break is more of a staycation, be sure to carry out essential car checks to ensure a safe road trip. Check tyre pressure and tread depth, oil level, fuel, washer fluid, emergency supplies and your engine coolant. This can help you to avoid costly breakdown fees or fines and even penalty points for an unroadworthy vehicle.

8.Travel insurance

Whether staying in the UK or heading abroad, insurance cover could help safeguard your finances – protecting you and your family, your belongings and your holiday from delays and cancellations. The policy itself can be relatively inexpensive if you shop around and ensure it covers all your needs – comparison sites help you get a competitive price. 

Reference:

*Quotezone.co.uk’s findings are based on a randomised survey of 1,000 respondents across the UK in March 2024, which represents a margin of error of approximately 5% at a 95% confidence level.