How to make your last minute holiday even more of a bargain
Summer may be drawing to a close, with the days getting shorter and barbecues being left to rust for another year, but thousands of us will embark on bargain, last minute holidays in August to take in some sun and sights before the kids trundle back to school.
Saving money on holidays needn't end at the booking stage, though. There are dozens of ways you can easily cut costs while abroad, thus ensuring your "cheap break" doesn't leave you with a credit card bill the size of a cruise ship.
We have compiled five of the best holiday money-saving tips that you can follow whether you're basking on Costa Del Bravo beaches or admiring the architecture of Florence.
1. Shop around for travel insurance
Settling for the insurance policy your travel agent tries to sell you when you book your holiday can cost you dearly.
Recent Which? research showed that out of 29 travel agents it visited in a survey, all of them offered "uncompetitive" insurance deals. One agent quoted £80.99 for a two-week trip to Spain for two, but according to Which? a similar policy could have been purchased for just £20 elsewhere.
In addition to being more expensive, travel insurance policies packaged with holidays are often found to provide an inadequate level of cover. Over half of the travel agents studied by Which? failed to check that the cover would be sufficient for the traveller, and six of them didn't even bother to ask about pre-existing medical conditions.
So don't get ripped off before you've even packed your bags, and compare travel insurance quotes from several providers before purchasing a policy.
Compare cheap travel insurance now
2. Avoid using your mobile phone
Liberal use of your mobile while abroad can result in a phone bill that dwarfs what you actually paid for your holiday.
Research by uSwitch.com showed that, in 2010, 15 million holidaymakers taking their phone with them won't check the costs of using it before they depart - leaving themselves open to a very nasty shock upon their return home.
Despite the EU recently introducing a EUR 50 cap on data roaming charges and lowering call costs for mobile users abroad, uSwitch fears that travellers may still unwittingly incur unexpected charges simply by turning their phones on.
Avoiding a massive post-holiday phone bill is relatively straightforward: Quite simply, don't turn your phone on. Does your Facebook status really need updating 24/7? You're supposed to be getting away from it all!
If you must use your phone, always check the roaming costs with your service provider before leaving, and bear in mind you may have to pay for calls you receive as well as make.
Some networks offer special holiday tariffs which you can opt into for a specified amount of time, but another recommended option is to buy a Pay & Go sim card in your destination country as this will be an easy way to keep track of costs.
Additionally, if your phone has wifi enabled then try to take advantage of free internet hotspots provided by hotels, restaurants and bars. Always double check that you are connected through wifi and not your 3G connection, as some phones have a tendency to switch between them automatically.
3. Avoid eating out in tourist hotspots
Essentially, think like a local by eating in restaurants that are located away from the bustling tourist hotspots where you are likely to be ripped-off by "tourist menu" touts.
Not only will you save money but you will probably also find that the food is more authentic and of a much higher standard. Perhaps most importantly, you will also be able to proudly boast about "mixing it with the locals" when you get back home.
You don't have to travel miles out of your way to find good, cheap eateries either. When myfinances visited Prague last year we found restaurants just two short tram stops away from the popular Charles Bridge that charged about half the price of the busier, tourist-bait venues. The beer was significantly cheaper too.
4. Research exchange rates and find the best places to change money before you go
There are lot of contradictory views on what is the best way to change your pound sterling into foreign currency, and to be honest none of them seem ideal.
It is near universally accepted, however, not to change money at Bureaux de Change in airports as these generally offer bad rates and high commissions.
To compare exchange rates from several outlets, including Thomas Cook and M&S, use Travelmoneymax.com. The best deals on there can generally be had by ordering your money online and collecting your money in a branch.
Speaking from experience, though, one of the best, money-saving, foreign currency solutions is to withdraw a lump sum of cash with a debit card (never a credit card) from an ATM in your destination country and be very (very) careful.
Divide up the money and stash it in various places - inside the hotel safe, your socks, glasses case, shoes or anything you can stuff in your bag securely. This way, you are only charged for your money once and you won't need to frantically search for an exchange when you see that novelty sombrero hat your heart was set on.
Just don't forget where you hid the cash. Though it is a rather nice surprise to return home and find £90 worth of foreign currency inside that holiday novel you never started.
5. Keep your wits about you, haggle, and avoid scams
The feeling of sunshine-induced goodwill that washes over most holidaymakers can sometimes cloud their judgement when it comes to making monetary decisions.
Brits on holiday have a tendency to be too trusting and too polite to say "no", but to save money you will have to leave your stiff upper lip at home.
Many of us have probably been taken in by jovial street traders selling their wares at "discount prices" or by suave "representatives" offering cheap deals at the 5* hotel down the road no one's ever heard of.
Just remember the old "If it's too good to be true." saying, it more often than not applies to deals you'll encounter abroad.
In the case of street merchants, never feel pressured into buying something you don't want (or need.) Remember that in most countries it is perfectly customary to haggle, in fact, in some places, it is even more unusual NOT to barter over prices.
Always ask "representatives" or "officials" for I.D. Never hand over money to a person who has not been clearly identified. If someone tries to fine you for something, or make you pay damages for something you clearly weren't at fault for, ask them to go to a police station with you to resolve the situation.
You wouldn't hand out cash to any old soul on the street when at home, so don't do it abroad either.
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