Holidays can be expensive, with flights, transfers, accommodation and insurance quickly adding up — and that’s before you factor in spending money. So, we’ve put together some of our top money-saving tips to help you take care of your finances and make those savings go further, so you’ll be jetting away in no time.
1. Book early or late
The easiest way to save on your holiday is to book early. This gives you lots of time to save in advance and, typically, you’ll find the best deals on flights and accommodation the earlier you book.
But, if you’re not that organised (don’t worry, most of us aren’t!), you can also find great deals by booking late. Putting away a bit of money each week or month means you can snap up any last-minute deals and already have a pot of spending money saved up.
2. Choose a deposit-only option
If you’re the type to plan ahead, this option could be for you. Some holiday companies let you book using a deposit, then pay off the remainder over a number of weeks and months. This is a great way to build up to your holiday bit by bit, and it’s much more manageable than paying out one big sum. Just be sure you’re able to make those weekly or monthly repayments.
3. Kick-start savings
Whether you choose to book early or snap up a last-minute deal, it pays to set some money aside in advance. The first step to getting your savings going is to see where you could cut down. Do you have any unused gym memberships? What about TV subscriptions? You can put the money you’d have spent on these into your Beehive honeypot instead, and watch it grow bit by bit.
Think about how much you’ll need to save and set yourself a goal. Don’t forget your spending money!
4. Swapping to save
Sometimes, homemade is best. You could save lots of money throughout the year just by swapping store-bought coffees and treats for homemade comforts instead. We’re all for DIY alternatives to coffee, cakes and sandwiches (not to mention bottled water).
Put these little savings into your honeypot and you’ll soon see it building up.
5. Sort currency before you fly
Many of us find exchange rates confusing. We’d suggest that, most of the time, it’s best to get your money before the trip. If you’re using a card to pay, try to pay in euros, not sterling. Usually, you’ll get a better rate this way.
6. Save on essentials while you’re away
We’d suggest packing a reusable water bottle for everyone. If your accommodation has drinking water, you can fill them up each day before you leave. You could even ask for jugs of water in restaurants and visit drinking fountains to refill throughout the day.
We know this is only a little thing, but it could really save you some money. If you’re a family of four, and you buy two €1 bottles a day per person over a 10-day holiday, that adds up to €80 (around £70!).
7. Eat smart
Have you thought about saving money by eating smart on holiday? Here are three of our tips to help you along:
- Like we said earlier, homemade really is best for saving money. Forget about the pricey plane sandwiches, and take your own food and snacks instead. Remember, you can’t take liquids over 100ml – but once you’re through security, try to use a reusable water bottle as much as you can.
- It might sound obvious but when you eat out on holiday, try to steer clear of main squares and very touristy areas. These are the most popular places for tourists to eat, and so can be more expensive.
- When you arrive, stock up on snacks from your local supermarket. You can carry these in your bag instead of buying them when you get peckish. You’re more likely to crave and buy pricey snacks if you’re hungry.
8. Pack light
If you’re away for a week or less, we’d suggest only taking hand luggage. That way, you don’t have to pay for baggage. One space-saving trick is to buy full-size toiletries whilst you’re away and share with friends or family. Mini versions of shower products aren’t great value for money. Plus, they could leak in your bag!
Many of us frantically throw clothes into a suitcase the night before, but if you plan your outfits beforehand, it’s much easier to fit all of your things into hand luggage. Mix and match items and plan to wear your clothes more than once. On the day you travel, aim to wear your bulkiest clothes to save even more space.
9. Use public transport
Last on our list of tips: try to avoid taxis. Instead, use local metros, trams and bus networks. These are especially great in European cities where there’s a lot of traffic.
So, what’s next?
Saving for a holiday seems like a gigantic task. If you save as much as you can, using our tips, you’ll soon have filled that honeypot to the top. And if you need a savings account to get you started? Take a look the accounts we’ve got at Beehive.