A big holiday abroad can be the experience of a lifetime, and often people save up for years to afford one great trip away. After so much preparation, you want to make sure that your holiday is perfect, and if possible, save a few pennies so you can spoil yourself that much more when it comes to getting on the plane.
First of all, get yourself a good exchange rate by using a service like Currencies Direct's travel-money service. Foreign exchange costs a surprising amount and particularly if you're changing a lot, a good company can save you a surprising amount. Unless you're going to the Eurozone, it's worth making sure you have a few dollars, and as the dollar to pounds rate is so good at the moment, they're more than worth it as a backup.
Next up, it's important that you get a good deal on your holiday insurance. That does not mean that you should go for the cheapest one available, but rather go for the one that represents the best value for money.
A good tip is to check out the Defaqto website, Defaqto is the independent body which judges the quality of products in the UK financial sector, so work your way through the list of Defaqto 5 star holiday insurances and pick the one that represents the best value for you.
Another good tip, particularly if you're going to somewhere which might not be quite as developed as the UK, is to buy things when you get there. This saves you a little space in your bag and maybe a lot of money. Things like suntan lotion are usually a lot cheaper abroad (except in Latin America) so it's worth waiting until you get out there before splashing out.
Again, depending on where you're going, it might be worth looking up local transport routes. Generally speaking you can buy things in advance from the UK, but a trip that could cost £50 when bought from the UK could cost a fraction of that when you get out to your destination, particularly if you're willing to hop on a bus with the other local travellers.
Last of all, restrict your mobile phone use when you get out there, if you're going to be at your destination for a long time it's worth buying a local sim, but otherwise, roaming data charges can be huge so it's best to reduce your phone use as much as possible.
Find your next FABHoliday idea with FABTHINGS2do.
Showing posts with label Holiday Money. Show all posts
Showing posts with label Holiday Money. Show all posts
Friday, 27 July 2012
Wednesday, 25 July 2012
UK holiday spend on the rise
According to latest research released by MasterCard Cash Passport, three quarters of travellers expect to spend the same or more on their main holiday this year compared to 2011, despite concerns over the Eurozone and the costs associated with travel.
Results from a YouGov survey commissioned by the prepaid travel money card, Cash Passport, show that two thirds of us are taking a summer holiday.
Of these, one third (29 per cent) resolve to budget more for their holidays this year compared to 2011.
Two fifths (38 per cent) of 18-to-24-year-old holidaymakers are putting more money aside for spending compared to last year while one third of the over 55s are budgeting for an increase of up to 50 per cent on their holiday budgets.
As the strengthening pound means better exchange rates for those spending in Eurozone countries, less than one in ten (seven per cent) UK adults said they would be avoiding European holidays as a result of reported banking difficulties in destination countries.
Across the regions, only the south of England has a larger proportion of people budgeting to spend less on their summer holiday (31 per cent) compared to more (19 per cent), while Wales enjoys the largest percentage of people prepared to spend more on their holiday this year (37 per cent).
People in the East of England are expecting to spend 50 per cent more than they did last year, the highest proportion of all regions.
Jonathan Bennett, European sales director at Cash Passport, commented on the findings: “Faced with a difficult economic climate in the UK and elsewhere and perhaps even spurred on by the dismal weather so far this year, UK holidaymakers are staying positive about their main summer holiday and their expectations of getting away without worrying about bigger economic issues.
“For those going away but looking to tighten their belts and even those planning to spend more than last year, it remains important for people to be in control of their spending. Cash Passport customers can conveniently put aside their money and manage holiday budgets by using a prepaid card.”
Find your next FABHoliday idea with FABTHINGS2do.
Results from a YouGov survey commissioned by the prepaid travel money card, Cash Passport, show that two thirds of us are taking a summer holiday.
Of these, one third (29 per cent) resolve to budget more for their holidays this year compared to 2011.
Two fifths (38 per cent) of 18-to-24-year-old holidaymakers are putting more money aside for spending compared to last year while one third of the over 55s are budgeting for an increase of up to 50 per cent on their holiday budgets.
As the strengthening pound means better exchange rates for those spending in Eurozone countries, less than one in ten (seven per cent) UK adults said they would be avoiding European holidays as a result of reported banking difficulties in destination countries.
Across the regions, only the south of England has a larger proportion of people budgeting to spend less on their summer holiday (31 per cent) compared to more (19 per cent), while Wales enjoys the largest percentage of people prepared to spend more on their holiday this year (37 per cent).
People in the East of England are expecting to spend 50 per cent more than they did last year, the highest proportion of all regions.
Jonathan Bennett, European sales director at Cash Passport, commented on the findings: “Faced with a difficult economic climate in the UK and elsewhere and perhaps even spurred on by the dismal weather so far this year, UK holidaymakers are staying positive about their main summer holiday and their expectations of getting away without worrying about bigger economic issues.
“For those going away but looking to tighten their belts and even those planning to spend more than last year, it remains important for people to be in control of their spending. Cash Passport customers can conveniently put aside their money and manage holiday budgets by using a prepaid card.”
Find your next FABHoliday idea with FABTHINGS2do.
Wednesday, 16 May 2012
Britons enjoying up to 25% off summer holidays.
Britons enjoying up to 25% off summer holidays in the sun compared to last year thanks to strong pound.
Someone travelling to Rio will get 24.5% more this year whilst Tourists heading to Spanish or French resorts can expect 10.5% more spending power due to Euro crisis.
The Euro crisis has delivered a bonus for British holidaymakers who can expect 10.5 per cent more spending power on the Spanish islands or French resorts.
For every £500 converted to euros, a family will get an extra £47.41 this year compared to the summer of 2011.
That means more ice creams for the children, a glass of wine or two more with meals or entry to an attraction or theme park.
For those travelling further afield, the relative strength of sterling against other currencies will deliver an even bigger increase in spending power.
For example, someone travelling to Rio in Brazil will get 24.5 per cent more for their money this year, or around an extra £86 for every £500 that is converted to the local currency, the real.
Similarly, the pound will buy 15.7 per cent more Mexican pesos, delivering extra spending power to the many Britons who holiday in Cancun or the Riviera Maya. Visitors to South Africa will get 16.7 per cent more for their money this year.
While holidays in the Euro zone will be relatively cheaper in terms of daily spending, the strength of the pound against other European currencies has been even more marked.
For example, the pound is now some 23 per cent stronger against the Polish zloty than the summer of 2011, while it is 20.8 per cent stronger against the Hungarian forint.
Money will also go further this year in Turkey and Croatia.
The figures, which have been collated by Post Office Travel Money, will encourage many families to make their summer holiday choices based on where they can best value.
At the same time, many may decide to buy their summer spending money now to take advantage of the good rates. The Post Office research shows the pound has made gains against 24 of 30 leading holiday currencies over the past year.
Compared to a year ago, the pound is down by 0.7 per cent against the dollar, 1 per cent against the Barbados dollar, 1.1 per cent against the Vietnamese dong, 1.8 per cent against the UAE dirham and 4.1 per cent against the Kenyan shilling.
Post Office Head of Travel Money, Andrew Brown, said: ‘Although the increasing value of sterling against the euro has dominated the headlines, there are very few places where the pound is not packing a stronger punch this year.
'Our advice is for people to keep a close eye on exchange rates for all the destinations they are considering so they can judge where they will get the best return on their money.'
He added: ‘There are signs that the power of the pound is making people increasingly savvy both about their choice of destination and their spending habits.’
Find your next FABHoliday idea with FABTHINGS2do.
Someone travelling to Rio will get 24.5% more this year whilst Tourists heading to Spanish or French resorts can expect 10.5% more spending power due to Euro crisis.
The Euro crisis has delivered a bonus for British holidaymakers who can expect 10.5 per cent more spending power on the Spanish islands or French resorts.
For every £500 converted to euros, a family will get an extra £47.41 this year compared to the summer of 2011.
That means more ice creams for the children, a glass of wine or two more with meals or entry to an attraction or theme park.
For those travelling further afield, the relative strength of sterling against other currencies will deliver an even bigger increase in spending power.
For example, someone travelling to Rio in Brazil will get 24.5 per cent more for their money this year, or around an extra £86 for every £500 that is converted to the local currency, the real.
Similarly, the pound will buy 15.7 per cent more Mexican pesos, delivering extra spending power to the many Britons who holiday in Cancun or the Riviera Maya. Visitors to South Africa will get 16.7 per cent more for their money this year.
While holidays in the Euro zone will be relatively cheaper in terms of daily spending, the strength of the pound against other European currencies has been even more marked.
For example, the pound is now some 23 per cent stronger against the Polish zloty than the summer of 2011, while it is 20.8 per cent stronger against the Hungarian forint.
Money will also go further this year in Turkey and Croatia.
The figures, which have been collated by Post Office Travel Money, will encourage many families to make their summer holiday choices based on where they can best value.
At the same time, many may decide to buy their summer spending money now to take advantage of the good rates. The Post Office research shows the pound has made gains against 24 of 30 leading holiday currencies over the past year.
Compared to a year ago, the pound is down by 0.7 per cent against the dollar, 1 per cent against the Barbados dollar, 1.1 per cent against the Vietnamese dong, 1.8 per cent against the UAE dirham and 4.1 per cent against the Kenyan shilling.
Post Office Head of Travel Money, Andrew Brown, said: ‘Although the increasing value of sterling against the euro has dominated the headlines, there are very few places where the pound is not packing a stronger punch this year.
'Our advice is for people to keep a close eye on exchange rates for all the destinations they are considering so they can judge where they will get the best return on their money.'
He added: ‘There are signs that the power of the pound is making people increasingly savvy both about their choice of destination and their spending habits.’
Find your next FABHoliday idea with FABTHINGS2do.
Wednesday, 9 May 2012
Is it the perfect time to buy your holiday money?
The exchange rate against the euro and the dollar is good at present.
The pound's strength against the euro and dollar has left some currency experts suggesting that you stock up on holiday money now. But will it strengthen further and what is the cheapest way to benefit when the pound is strong?
The crisis in the eurozone has pushed the euro's value down against the pound in recent months, meaning that those who are taking their holidays in mainland Europe could end up getting more for their money than they did last year.
Customers who bought £100 of euros now could get €122 for their money, compared with €111 last July. Those going to the US could get $160 for £100, compared with $142 in May 2010.
A spokesperson for currencies.co.uk, said that the sterling exchange rate "is currently the best it has been for years against all other major currencies". However, he warned that the Government may take action to reduce the strength of the pound because of the effect that it is having on exports.
"With that in mind we would advise those looking to exchange sterling to be wary of the recent pound strength and look to exchange as soon as possible. It may also be worth considering a forward contract to fix the exchange rate at its current level."However, another spokesperson at currency broker HIFX, said that they believed sterling was in a good position and could become even stronger. "Buying euros must be tempting right now, but I think the UK economy is in much better shape than the eurozone so there may be more of a rally to come," he said.
Those who do wish to take advantage of the current rates, whether because they live abroad or are planning a holiday in the months to come, can do so in a variety of ways. Preloaded currency cards are convenient for those who want to buy hundreds of pounds worth of euros for a holiday. However, it is worth noting that money does not have the same protection in the event of a firm going bust as it would in an ordinary bank account. This is because you do not have the same protection under the Financial Services Compensation Scheme.
These cards allow you to buy currency at today's prices and hold it on a card until you wish to spend it. While it is there it does not earn interest. However, you effectively "lock in" today's exchange rate, and these cards can be a cost-effective way of spending abroad.
Two of the best-known prepaid cards are FairFX and Caxton FX, which come in dollar or euro formats. These come with slightly different fees and charges and tend to be only slightly more expensive to use abroad than the very best credit and debit cards. If you don't have a specialist credit or debit card for spending overseas they are likely to be a good option as well as allowing you to buy your currency when sterling is strong.
Those who wish to buy larger amounts of currency could use a money broker. These specialists can allow you to buy larger amounts of money at an advantageous rate. Or you could lock yourself into a more expensive "forward contract". This would give you the price available now for up to two years. This may be worth doing if you are about to buy a property abroad, for example. A specialist broker is often cheaper than a bank.
Find your next FABHoliday idea with FABTHINGS2do.
The pound's strength against the euro and dollar has left some currency experts suggesting that you stock up on holiday money now. But will it strengthen further and what is the cheapest way to benefit when the pound is strong?
The crisis in the eurozone has pushed the euro's value down against the pound in recent months, meaning that those who are taking their holidays in mainland Europe could end up getting more for their money than they did last year.
Customers who bought £100 of euros now could get €122 for their money, compared with €111 last July. Those going to the US could get $160 for £100, compared with $142 in May 2010.
A spokesperson for currencies.co.uk, said that the sterling exchange rate "is currently the best it has been for years against all other major currencies". However, he warned that the Government may take action to reduce the strength of the pound because of the effect that it is having on exports.
"With that in mind we would advise those looking to exchange sterling to be wary of the recent pound strength and look to exchange as soon as possible. It may also be worth considering a forward contract to fix the exchange rate at its current level."However, another spokesperson at currency broker HIFX, said that they believed sterling was in a good position and could become even stronger. "Buying euros must be tempting right now, but I think the UK economy is in much better shape than the eurozone so there may be more of a rally to come," he said.
Those who do wish to take advantage of the current rates, whether because they live abroad or are planning a holiday in the months to come, can do so in a variety of ways. Preloaded currency cards are convenient for those who want to buy hundreds of pounds worth of euros for a holiday. However, it is worth noting that money does not have the same protection in the event of a firm going bust as it would in an ordinary bank account. This is because you do not have the same protection under the Financial Services Compensation Scheme.
These cards allow you to buy currency at today's prices and hold it on a card until you wish to spend it. While it is there it does not earn interest. However, you effectively "lock in" today's exchange rate, and these cards can be a cost-effective way of spending abroad.
Two of the best-known prepaid cards are FairFX and Caxton FX, which come in dollar or euro formats. These come with slightly different fees and charges and tend to be only slightly more expensive to use abroad than the very best credit and debit cards. If you don't have a specialist credit or debit card for spending overseas they are likely to be a good option as well as allowing you to buy your currency when sterling is strong.
Those who wish to buy larger amounts of currency could use a money broker. These specialists can allow you to buy larger amounts of money at an advantageous rate. Or you could lock yourself into a more expensive "forward contract". This would give you the price available now for up to two years. This may be worth doing if you are about to buy a property abroad, for example. A specialist broker is often cheaper than a bank.
Find your next FABHoliday idea with FABTHINGS2do.
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