KAYAK has launched a new budgeting tool to help people save money and plan their next getaway as new research reveals 65% of holidaymakers are finding it harder to pay for their travels this year. According to recent data, the average annual household holiday cost has increased by £137 year on year.
KAYAK has created the Vacay Valuator, an online tool designed to help travellers plan and save for their holiday. The interactive tool provides an easy and practical way for people to see how much they could save by making small adjustments to their spending habits to help fund their holiday.
Travellers select the items they are willing to reduce their spending on - from takeaways to TV subscription services - and for how long. The 2023 Vacay Valuator then works out what the possible savings will be and what flight routes are available for a price equivalent to the proposed saving.
Swapping takeaway meals and eating out for cooking at home for two months could save you more than enough to fly to Italy, with a round-trip flight to Venice in August from around £96. Or, ditching nights out for a month can save on average £73 a month, which could fund flights to La Rochelle, France for a week in August, with average flight prices starting from around £66.
TV’s Rachel Riley, said, “I’m really excited to get away this year, but with the cost of everything going up, my eldest being in school and Pasha’s work schedule, we’re going to be tied into going on holiday during the peak season. Anything to help save money and find the best deals for a family holiday is definitely part of my holiday planning..”
Rachel Riley’s top tips to save for your holiday:
Raid your friends' wardrobes or rent your holiday outfits - my friends and I always borrow clothes off each other, especially when it comes to the kids as they grow out of things so quickly, it’s also a great way to be more sustainable. Let’s face it, with the British weather, you might not get to wear those outfits again so borrowing or renting the clothes can save you a lot of money when you think about the cost per wear. Sites like Hirestreetuk.com are great for affordable fashion rental.
Reduce takeaways - it's all too easy to order a takeaway when you aren’t in the mood for cooking, but this is one of the things people are willing to give up to save for a holiday, and it’s probably the easiest as we can replace it with cooking at home. Why not try signing up for a recipe subscription box? Many offer big discounts on your first few boxes (just make sure to cancel before the discount offer ends). It will encourage you to cook and give you some new recipes to try - you might even find some inspired by the destination you are saving up to visit!
Swap the kids soft play for the park - as the weather is getting warmer, it’s a great time to make the most of the days that the sun shines in the UK and take the kids to the park for some fresh air and save money on the cost of indoor activities.
Plan your holiday activities in advance - planning a holiday is just as fun as the holiday itself, so spending some time to plan what you want to do when you get there, and looking at how much things cost can help you to make sure you take the right amount of spending money with you and avoid overspending on the holiday.
Use a specialist credit or pre-paid travel card - working out when to get travel money for the best exchange rate can be a gamble, but using a specialist travel credit card can help you to get the best exchange rates so you’re getting the most for your spending money.
Use a travel search engine to get the best price - use a site like Kayak.co.uk to help you find the best deals. There are plenty of tools to help you like the Vacay Valuator to help you save for your holiday, or the Explore page to find destinations within your budget. You can also use tools like price alerts and flexible dates to help you find the best prices.
