Setting aside cash for a summer break

Start saving

If possible, avoid charging the cost of heading to warmer climes to a credit card - and start saving instead. You might be surprised how much you can squirrel away in a short space of time in preparation for a trip.
There is an array of savings accounts to choose from that you can use for any spare cash. If you want to know you can access your cash at any time, make sure you opt for an instant access savings account. If you’re able to keep up the savings habit over several months, you could consider a regular savings account to encourage you to set aside, say, £100 a month, or whatever you can sensibly afford.

Use comparison sites

Once you’ve got the money to take the plunge, the first port of call when booking a holiday is probably the internet because this is usually where the best deals are to be found. Whether it’s a package holiday or you’re booking accommodation and flights separately, deals tend to be better than those available on the high street or through telephone booking services.
But don’t use just one travel website, check as many as possible so you can compare deals. It’s time consuming, but it is good to know if you’re getting a good price or not.

Consider timing

Early-morning and late-night flights are generally cheaper than journeys more conveniently scheduled during normal waking hours. But if you drag yourself out of bed at two in the morning to catch a flight, your wallet will thank you.
Booking a few months in advance will usually save you money on transport and accommodation if you have a specific destination in mind. Planes, trains and buses all have a certain quota of seats that they will sell for the lowest price. Once these seats are booked, the next quota of seats will be more expensive.
However, there is also an argument for booking at the very last minute –which also gives you more time to save for the trip. If you aren’t fussy about where you go, potentially you can still get a very good late deal.

Travel money

Some credit or debit cards on the market should be avoided for use on holiday. This is because they will charge a ‘loading fee’, which sounds complicated but can mean a charge of around 3% on everything you spend. You may also be charged for withdrawing cash from an ATM at a cost of about £1.50 a time. There are other options, however. Some cards won’t charge fees for spending abroad, and there are prepaid cards which you can load up with currency and then use on holiday. These may be a better option for your travels.

This article has been written for information and interest purposes only. The information contained within this article is the opinion of the author only, and should not be construed as advice or used to make financial decisions. Expert financial advice should always be sought and any links contained within this article are included for information purposes only.”

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