We recently published a blog post detailing 5 of the cheapest destinations for your 2018 summer holiday.

In this post, we’re going to focus on some of the best tricks to help you save on overseas spending. After all, purchasing the flights and accommodation is one thing, but the host of additional costs that come along with a holiday is another.

In-fact, us Brit’s spend an average of £227 per person for each week we’re away, and this number is likely to be heavily elevated depending on your holiday destination and the board basis of your accommodation.

Fortunately, there are several ways to keep your overseas spending in check. Below are some of the best.

Keep Holiday Spending Down

 

1.      Shop around for your travel money

If you’ve ever bought travel money at the airport, or withdrawn it from an ATM abroad, you’ll notice that the rates are significantly worse than those available on the high street.

You may also be surprised just how much rates differ from one high-street supplier to another.

To illustrate this, we carried out a quick comparison where we compared rates when purchasing £500 worth of Euros, here’s what we found:

  • Best rates: €565.15 (1.1303)
  • Worst rates: €540.15 (1.0803)

(Figures obtained from CompareHolidayMoney.com)

As you can see, by spending just 30 seconds comparing rates, we could have earnt an additional £25 for our sterling. Naturally, the more you’re exchanging, the better the saving.

It’s also worth keeping an eye on any deals that suppliers may offer. For example, Euro Change will often improve their rates for those buying more than a certain amount of currency.

 

2.      Consider hiring a car

If you plan on spending plenty of time exploring your resort and the surrounding areas, you’ll probably find yourself forking out a small fortune in taxi fares.

Even if you plan on spending most of your time by the pool, hiring a car may still be a good idea. And here’s why:

Let’s say you and your partner have booked a 7-night holiday to Marbella. Your hotel is 45 minutes from Malaga airport, here’s what you can expect to pay for a transfer:

  • Shuttle transfer: £39.02 per person
  • Speedy Shuttle: £47.94 per person
  • Private transfer: £67.84 per person

Now, here is the costs of 7 days car hire:

Seat Ibiza – £15.16

(Cost obtained via Travel Supermarket)

Even if you spend £20 worth of fuel getting to and from the airport, you’re still saving a significant amount vs. the cost of a shuttle transfer.

 

3.      Consider going all inclusive

The upfront cost of going all-inclusive can be off-putting. However, you’ll usually find that the majority of your travel money gets spent of simple things like meals out, bottles of water, alcoholic drinks and evening entertainment – all things that would be covered when you go all-inclusive.

As an example, let’s say you’re planning on going to Mallorca for 7 nights in mid-June. A standard room in a 4* hotel would cost you:

  • Bed & Breakfast: £226 per person
  • All-Inclusive: £355 per person

(All prices obtained from Travel Republic)

As you can see, the discrepancy in price between B&B and All-inclusive is £129 per person. That works out at £18.42 per day.

For that £18.42 per day, you get:

  • 2 additional meals per day
  • Unlimited beverages (alcoholic and non-alcoholic)
  • Unlimited access to the snack bar

Even the most frugal of holiday makers will struggle to keep the cost of food and drink below £18 a day!

These are just three of the ways you can reduce the cost of overseas spending. Have you got any other tips to add to the list? We’d love to hear them in the comments section below.