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Money Pitfalls: How To Avoid Wasting Cash On Holiday

Chances are your relationship with your bank account is feeling a little strained at the moment. There was the expensive December month and you might have booked a flight or two when you panicked during your first week back in the office. Now you’ve got a few months to go and save up, but have you considered the money you might waste while on holiday? Here are some tips to avoid financial heartache I made so you don’t have to. You are welcome.

  • Not packing strategically can cost you quite a bit of money. Not only in terms of exceeding the weight allowance…but how many times have you forgotten your toothbrush? Not to mention all the  full size products you by accidently packed and had to hand in and repurchase again. So make sure that you write down a packing list and double check.
  • Saving yourself £30 and flying with a budget airline to a smaller airport can feel like you just entered the wonder world of Extreme Couponing, but then you find out it takes 2 hours and £50 to get to the city from that small airport. So always compare how much it will cost you to get to from main as well as the regional airport to your destination. It might be dull, but worth it in the end.
  • Spontaneous decisions can end up fun, but could also end up costing you a lot, so you might want to look into planning your activities ahead of the trip. The train tickets for that day trip you planned might end up being the same amount for as it would have cost you to fly to your holiday destination.
  • Money exchange costs, especially at airports are a massive money trap and you should never ever change currency at an airport. Check online for the best deals in your country or use your card to withdraw cash when you arrive.
  • But before you do that do check how much your bank charges you for paying/withdrawing abroad .The first time I went abroad with my UK card I found out I paid over £30 for card charges! With that money I could have bought a one way ticket to Paris.
  • Not reading the fine print. So forgetting to check in or finding out your suitcase is literally 2 mm too big for the budget airline and you end up paying an additional £60. And you know what? You are the only to blame so next time listen to your mom when she asks you if the suitcase isn’t too big, they have a special extra sense for this.
  • Not making use of your hostel/Ar BnB kitchen can cost you a lot. Ok, true … in some countries it can actually be cheaper to go out, but your first stop should the supermarket. There you can explore and stock up on goods you can’t find at home. It doesn’t have to be a 4 course meal, but get your baguette and cheese for breakfast and invest what you save in an extra drink that evening – or invest it in something more useful.
  • It’s fun when you mix up the exchange rate and everything is CHEAPER than you thought, but it’s not too great when it happens the other way round. I remember in Latvia everything seemed super super cheap until I realised I mixed the exchange rate up and in the 48 hours I spend there costed way more than it should have been. It’s 2018 and there are apps for this so no more excuses.

    How much have you wasted during your last holiday?

One thought on “Money Pitfalls: How To Avoid Wasting Cash On Holiday

  1. nat

    YES to the second point. And also realising it might not actually be worth catching the earliest flight possible since public transport doesn’t really run at that time.

    When I was catching a taxi from airport to hotel in HK, for some reason, it didn’t occur to me that it would be cash only. So when they got to my hotel, I realised it was cash only and driver had to drive around looking for an ATM. Wasted a little bit of money doing that.

    nat // Dignifiable

    Reply

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