When it comes to going on holiday, the first things we normally consider are where to go and what to do.
But with recent research by ABTA, which revealed that Brits spend as much preparing for a holiday in the UK as they do when they are actually abroad, travel money and the best currency deals should be top of your priority list when it comes to planning for that long-awaited trip.
We spend the most on things such as clothes, electrical goods and magazines in preparation for our holiday, so what better way to balance this figure out than by making sure we don’t pay more than we have to for our foreign currency.
This is something that can be done before you travel, helping to bring down the staggering figure of £31.2 billion that Brits spend annually on foreign holiday planning.
Although the bank or post office boast the best rates for foreign currency, you’ll be surprised to find that nothing beats the internet. With only a couple of clicks you’ll have access to the most competitive rates, which can be browsed at your convenience from the comfort of your own couch.
Online currency deals are plenty, with every retailer out there trying to sell you their ‘best deal.’ Although this can be overwhelming, if you’re savvy you’ll be sure to land a great deal before you’ve even started planning your holiday itinerary.
Another way to avoid significant charges before you’ve even travelled is by leaving your credit and debit cards at home—this summer alone, it is predicted that British holidaymakers will waste £160 million in credit card charges that could have been avoided.
Take more cash with you than you need and exchange it before you go. Of course, take a credit or debit card as a back-up, but use this as your last resort.
With the pound pitched against the euro, holiday spending for us Brits is always going to be a tricky business. However, with a bit of forward thinking, planning and knowing where to look for the favourable deals, this needn’t be a headache.
The main things to avoid are exchanging money last minute at the airport or while abroad—click here to find the best euro rates as they won’t be reserved for tourists and you’ll end up either paying an extortionate exchange rate or hidden fees.