There’s no doubt planning a trip away can be costly, but it’s often the little things we forget that send budgets spiralling.
Particularly after the festive season, where budgets are usually tighter, keeping in mind those hidden costs will help prevent a sudden shock to your bank balance down the road and allow you to enjoy yourself more on your holiday.
To help you better budget for your next trip in the new year, here’s our top tips on how to save money…
1. Expect additional travel costs
Booking the flight may be the first price tag consumers consider, but what about travel to and from the airport, or transportation to visit popular tourist destinations?
Public transport costs can vary greatly depending on the country, with recent studies confirming the UK is the most expensive place in the world to purchase a train ticket on the day of travel.
So, you may also need to pro-actively book your transport ahead of time to save money.
2. Avoid credit card fees and ATM charges
Another commonly forgotten holiday cost is being charged to spend money.
Some credit card companies will charge a fee for foreign transactions, which is usually around three percent. While that might not seem like much for small transactions, this cost can accumulate during your trip and will certainly make a big dent in your budget for any big purchases.
The same is true for withdrawing cash from an ATM, which can set you back five percent of the amount you withdraw.
That’s why it’s recommended travellers use a pre-paid card or specialist travel credit card to avoid costly fees.
3. Manage data roaming expenses
Data roaming charges are another cost factor that can trip travellers up.
Previously, UK travellers to the EU were exempt from the cost of using data abroad. However, Brexit has meant holidaymakers will now need to be much more careful with how they use tech overseas.
As it stands, O2 is the only major UK network to not enforce EU roaming charges for up to 25GB, while EE customers could be charged £2.29 per day depending on their plan.
Holidaymakers will need to check their phone contract and be wary of not going over their data allowance or risk steep fees.
4. Budget for unexpected costs
It’s always a good idea to budget for unexpected expenses such as emergency medical costs or unforeseen purchases.
By setting aside a portion of your budget as a contingency, travellers can better manage finances and fully savour the holiday experience without worrying about breaking the bank.
5. Use third-party apps and sites
Travellers can also bag a bargain by shopping around for deals in advance since buying tickets at the door will undoubtedly be more expensive.
However, it’s no secret trying to find the best deal online can be time-consuming. Look to comparison sites like TourScanner that help save you time and money when finding competitive prices for tours and travel activities.
I’d also recommend travellers take advantage of financial tracking apps that help them stay on budget while away.
Usually, these apps allow you to set up notifications that help you limit excessive spending before your budget runs away with you.
By Travel Expert Guillaume Piccard at TourScanner
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