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How to save money on your holiday

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Alison Godfrey 11 April 2018
Save your cash and plan well for a great holiday. Picture: Shutterstock

Holidays can be expensive. Often it's the little costs that you haven't accounted for that add up to a whole lot of money. But with these eight tips, you can actually keep control of your spending while you are on holiday. 

1. Plan ahead

Before you even decide on a destination - plan your budget. How much in total do can you realistically afford to spend on a holiday? You will need to include the costs for hotels, flights, trains, tipping and food. Decide on an amount that you would realistically spend each day and then multiply it by the number of days that you plan to be away. If you online currency converter to convert your Australian dollars into foreign money to get a realistic idea of how much you will be spending - make sure that you add on the additional fees and charges you are likely to incur from your bank or financial institution. 

2. Book a package tour

This has to be one of the best ways to keep your costs under control. All-inclusive tours often come at a cheaper price than trying to bundle everything together yourself. Package deal specialists, such as My Discoveries, can often obtain significant discounts on the regular rates. With everything paid for, you can simply relax and enjoy your experience. 

3. BYO

The cost of constantly eating out when on holidays can certainly add up. Find a supermarket near your hotel and stock up on food, water and snacks. If you're staying in a resort, try venturing outside the gates - often local restaurants offer fabulous food at a much lower cost.

4. Avoid fees

Before you leave for an overseas holiday, research where you can find ATMs that have the lowest charges for using Australian cards. And keep an eye on conversion rates so you can change over your currency at the most financially opportune time.

5. Track your spending

It's easy these days to keep track of your spending by simply popping it into a note on your phone. Keep a running total of what you have spent each day and you will find it is far easier to stick to your budget. 

Track your cash spending each day to make sure you are staying within your budget. Picture: Shutterstock

6. Forget the souvenirs

Who needs a brass Eiffel tower or a bell from Prague. Stuff is not as important as memories. If you love it, take a photo of it. Limiting these impulse purchases will have a seriously great effect on your budget. You are not obliged to bring anyone anything.  

7. Limit the excess luggage

Don't overpack. Excess luggage charges are excessive. Check the airline's policy because they all have different weight limits. Pack light and make sure you weigh your baggage before you get to the airport. 

8. Get insurance

Accidents do happen. And when they do, they can be costly. If you have adequate travel insurance you can feel safe that you will not be out of pocket should the worst happens. Because no-one wants to be hit with a hospital bill for thousands of dollars.