Whenever you travel there is the potential to overspend, and this heightens if you go away for the festive period. This is because you are looking forward to getting away, seeing friends and family and enjoying various festive themed experiences, and the thought of budgeting slowly slips away the more you settle into your break. Despite having the best intentions you might end up spending far more than you want – on average, we overspend by £220 per holiday!
So how can you stop yourself from tumbling head first down the overspending rabbit hole? Start by reading our top money-saving tips!
By this I mean to make sure you actually think about your money and, more specifically, your budget before you leave. If you know that you are going to travel in December, sort your budget by the end of November at the latest. Make sure that you have allowed yourself a little wiggle room so that you can factor in last-minute gifts, festive souvenirs or an extra drink or two when you are out and about!
How you spend matters!One of the best things you could do before you go away is to get yourself a Monese account. When you have a Monese account you don’t have to worry about taking out large amounts of cash before you leave, or paying any exorbitant bank charges or fees for using your card abroad. With Monese you get your own contactless card that you can use anywhere that accepts Visa. You also automatically get some of the best rates available (just 0.5% on top of the exchange rate), cutting out the problem of having to do extensive research on where to get the most for your money!
How many times have you trawled Duty-Free before your return flight trying to get rid of your spare change? Well, you don’t have to! Brits spend around £14 at Duty-Free on things they had no real intention of buying, which is a waste of money. If you have enough spare cash you can change it back when you get home; yes, you might not get the best rate exchanging cash back into GBP, but you can then spend it on things you really need back at home. Failing that you can help others by donating your leftover foreign currency to charities – many of them have donation points in their high street stores.
Main photo credit: 401(K) 2013