Going on holidays in times of recession

Bundle of notes

Bundle of notesMany people are worried about their finances at the moment due to the uncertain economic climate and life’s little luxuries such as holidays can be one of the first things that are sacrificed. With us all working hard, holidays are important to ensure we have at least one opportunity to relax and unwind from our daily stresses.

Here are a few tips on how to make your money stretch further to ensure your holidays can still happen during times of economic crisis.

Travel Insurance

Now you may think when trying to save money that any extras such as travel insurance can be overlooked however this is one extra that could actually end up saving you a lot of money in the long run. Taking out an adequate travel insurance policy will give you piece of mind should anything go wrong during your holiday, lost travel documents and lost luggage can result in large costs and cancelled or delayed transport without travel insurance can leave you stranded forcing you to pay for alternative transport. Using price comparison sites such as moneysupermarket.com to compare travel insurance policies can help reduce costs further to make sure you are getting the policy you need at the best value for money.

Shop around

A great way to save money when travelling can be done before you even leave the house and it’s all in the preparation! Never book the first holiday you find, always do your research and make sure there are no tour operators out there that are offering your holiday cheaper. If booking at the travel agents, always ask what extras they have added on, small things like in flight meals can soon mount up and travel agents will often offer a travel insurance policy that you can get cheaper elsewhere if you do your research. Don’t be afraid to ask if they are giving you the best price, a sea view room for example may cost more than a garden room which are also available; if you ask your travel agent can help you get the best value for money.

Prepaid cards

Where a lot of people blow their holiday budget is not when they are booking it but instead whilst they are away on meals, days out and souvenirs and presents for people book at home, prepaid cards provide a fantastic way of limiting what you are spending. The cards are loaded with money before you leave home so you can choose exactly how much you want to spend and the fact that they aren’t credit cards means you don’t have to worry about any debts when you get back. If you were too lose your card your money is protected just call the provider as soon as possible to cancel it. Do be careful when using the card to withdraw cash as many have extra charges that you wouldn’t want to incur.

Go All Inclusive

Where a lot of people overspend on holiday is through dining in different restaurants every night, if you don’t mind staying in your hotel to eat going all inclusive can save you a great deal of money. Plenty of hotels have not just one but several great restaurants to choose from and an all inclusive option is not only convenient but also means you won’t overspend on expensive meals. Another great aspect of going all inclusive is that your alcoholic drinks are also more often than not included; buying alcohol can result in a lot of over spending on holiday, if this is included in the costs it can end up saving you a substantial amount.