How to Book a Holiday Without Breaking the Bank
The grey skies are dreary, and email notifications are pinging with holiday deals. The temptation is too hard to shake; you’re booking a holiday, regardless of how precarious your bank balance looks. Who could blame you, right?
Let’s press pause, though. The truth is, the “best of both worlds” is more accessible than you think. There are strategies to book a trip without overspending and this guide will tell you exactly everything you need know.
1. Define a Clear Travel Budget
The first step is being honest with yourself. How much can you afford to spend? Never empty bank accounts for the sake of a holiday. Anyone unsure of how to split savings and spending should use an emergency fund calculator.
After calculating what you can afford, you have a sparkling budget. This will cover flights, accommodation, local transport, meals, activities, and a contingency buffer (important for anyone liable to miss flights or indulge in shopping sprees). Aim to budget at least 20% more than you think you’ll need.
2. Booking Flights and Accommodation
Let’s get the cogs whirring. Always book flights and accommodation in advance, as these costs increase with last-minute bookings. Tools like Skyscanner or Booking.com are your best bet; anything that allows customers to clearly compare rates. Aim to travel mid-week and, where possible, book trips during the off-season to obtain competitive prices.
There is also the possibility of package holidays. To save money, all-inclusive holidays can be a smart option, as these deals cover the cost of most meals and a selection of drinks.
3. Embrace Local Transport and Dining
Yes, that Michelin-starred restaurant looks flashy, and hailing a taxi at the airport might feel easier. However, looking for cheaper alternatives is the best way to save money.
Most airports have local transportation that connects them to major tourism hubs, so take the bus or train instead. Once you arrive, be mindful of what you do and where you eat. For instance, swapping expensive restaurants for local cafes or shopping at supermarkets (if you choose self-catered accommodation). Most cities have incredible free or low-cost activities, too. Plan a budget-friendly itinerary.
4. Leverage Rewards, Insurance and Hidden Savings
These steps have been practical. Now it’s time to get strategic; invest in hidden savings and safety nets. Firstly, always purchase travel insurance after booking flights and accommodation. This way, if you’re forced to cancel, you lose nothing. Next, look into credit cards and cash.
Some cards earn points or cashback, which saves money on travel costs. Remember to notify banks about your trip, and consider choosing a card that doesn’t charge foreign exchange fees. To get the best deal, keep an eye on currency exchange rates, too. Jump when rates are highest.
There is no denying that travel gets expensive. But with these tips, you’ll save more of your hard-earned money.
