Soaring bills and the cost-of-living crisis is squeezing households' budgets. Reduced disposable income is leaving people to actively explore cutting back on outgoings, from dining in restaurants, to cancelling entertainment subscriptions such as Sky or Netflix.
One area that will see decreased spending is vacations, reports loveholidays, who say their research has found Brits will have £300 less in their holiday kitties next year. This still leaves the average Brit with around £920 to spend on each holiday, per person, according to the analysis by loveholidays.
Broken down, loveholidays say people tend to put aside the most money for their accommodation (29%), followed by flights (19%) and food and drink (12%). Surprisingly, more money is spent on transfers to and from the airport (8%) than activities and exploring while away (6%).
An expert from loveholidays is sharing their tips and tricks that could help keep costs down when booking a holiday. From considering all-inclusive packages, to being flexible with dates, here are the top travel tips that could save you money.
Six money saving holiday tips
Book at the right time to lock-in the best prices
Booking early means you can secure the exact dates you want and, while airfares are dependent on a range of factors, they are often cheaper when you book in advance as prices tend to go up as seats get filled. For the ultra organised, airlines have already started releasing their 2024 flight schedules and as a result, loveholidays is said to have hundreds of summer 2024 deals available to book now.
If you are feeling spontaneous and want to book a last-minute break, it is still possible to find late deals if you’re open to when and where you travel. loveholidays say they work with hotel suppliers to agree discounted rates on any last-minute availability, helping customers get the lowest prices possible.
Consider different destinations
Being open to trying different destinations could help you save considerable amounts of money. According to loveholidays' recent analysis into the best priced package holidays for winter sun, the travel company say Malta, Portugal and Turkey came out on top and are all great destinations to explore if you’re on the hunt for some sunshine.
While booking flights and accommodation is one thing, there are also the expenses while you’re away to contend with. From dining out, exploring local attractions or simply getting to your hotel, these costs can vary significantly by destination.
loveholidays’ search function lets you browse holiday locations and packages even if you don’t know where you want to go. Search for deals based on facilities, board-basis, budget, TripAdvisor rating and even the type of swimming pool you prefer, to potentially find a destination you’ve likely never considered before.
Opt for all-inclusive
All-inclusive deals are another potential way of helping you stay in control of holiday costs. With all your snacks, meals and beverages included in the price you pay upfront, you can worry less while you’re away and focus on enjoying your holiday.
Many hotels and resorts also offer half-board, which factors your breakfast and dinner into your accommodation price. This could be a worthwhile option as it means the majority of your meals are paid for upfront but also gives you the flexibility to venture out to eat when you fancy it.
Be flexible on dates
If you have school-age children, travelling in term-time might not be an option for you. The good news is there still tends to be cheaper times to travel within the summer holidays.
loveholidays say their data shows that late August can be almost 12% cheaper than July, while flying mid-week is also likely to help cut costs. For those with more flexibility on dates, the difference between peak and off-peak prices can be substantial.
If you’re planning a summer getaway for example, waiting until the kids are back at school can give you a lot more choice at lower prices. If you don’t have children, make sure you’re also aware of the lesser known half-term holiday dates during spring and autumn, which differ depending on what part of the country you’re in.
loveholidays enables you to search for your holiday without adding dates so you can find the best prices. Once you have selected your hotel, use the calendar feature to easily compare prices on any departure date to bag the best deal.
Look out for the best deals
No matter when you are booking your break, there are always deals to be had. Whether it be the airport you fly from - smaller, regional airports tend to be cheaper - or simply the provider/website you book with, keep your eyes peeled for the best prices.
If you book with loveholidays and find your holiday available at a lower price on any other UK-based travel website, within 24 hours of your booking being confirmed, they will refund the difference to you. loveholidays also offers low deposits from just £25 per person, plus monthly payment options, which means you can spread the cost of your holiday if you prefer.
Set yourself a holiday budget
If you’re worried about going overboard on spending, setting yourself a budget before going away gives you a good idea of what you have to play with. Make sure you’ve accounted for all of your holiday-related expenses in your budget, as things like tourist tax and visas for certain destinations can catch you off guard, while transport costs also add up.
If you plan to drive to the airport, parking gets more expensive closer to your departure date. Aim to book this at the same time as your flights and accommodation.
When it comes to getting around while you’re away, consider booking a shuttle or shared transfer to and from the airport to help keep costs down.
