Managing your money on holiday is never an easy task. It’s easy to get blinded by all the incredible opportunities available to you and forget that there is only a limited number of euros in your back pocket. Maybe this is due to the amazing destination chosen or this could be down to a lack of pre-planning prior to your time away.
Allow us to guide you through some of the most effective tips to help you manage your money while your away on holiday. Helping you make the most out of every penny you have saved whilst never having to break the bank.
Setting Funds A Side For Travel And Accommodation
Firstly, let’s take a look at travel and accommodations. There may need to put more money aside for this than you would expect. Unfortunately, the costs do not end when you have paid off your airport transfer and holiday accommodation. You may even require daily taxies to take you to and from the attractions you wish to visit. A great bit of advice would research all the travelling you plan on doing during your time away and get a quote from a local taxi company for the ride. From there you will be able to work out a total cost of all transport during your time away, eliminating the chance of your daily budget taking a hit when unexpected travel costs arrive.
Create A Food Budget Per Day
Easily one of the biggest costs when your away on holiday, yes you guessed it food. We all love it but it can end up zapping our budget much quicker than we expected. Some great advice for creating a food budget is to only choose a select few expensive restaurants to visit on your trip. This will keep the number of 20 euro starters consumed to a minimum. Additionally, you may want to make a couple of meals at your own accommodation during your visit. It can be extremely expensive eating out for 3 meals a day. Staying in and making some food can save you a lot of money in the long run, leaving you with more money to spend on the things that really matter to you.
Research Attraction Prices Prior To Your Visit
There is a lot more to a holiday than just food and transport, the attractions that your chosen location offers can be a huge part of the reason why you visited the destination. We recommend that you take part in every experience which is available to you, these are the unforgettable memories you will reminisce on from year to come but please take the time to do some planning beforehand. To manage your money spent on attractions you may want to choose to do one activity a day which enables you to make the most out of the money spend. We also recommend that you research the price of the activity beforehand and set the relevant budget aside.
Calculate A Per Day Budget
Now we have taken a look a the three main factors that affect your costs, its time to put this information together and create a daily budget. It may be as simple as dividing your total holiday savings into the number of days you’re staying away, but we recommend that you work out each day individually. This ensures you have the perfect amount of money for each day and factors such as restaurants and attractions never limit your budget for later dates. Unfortunately, this does involve a bit of maths work, but it will be worth it when you have no stress and everything is comprehensively planned out.
Emergency Funds
Never venture abroad without having some emergency funds set away to one side. Be prepared for the unexpected and keep a couple of hundred pounds on your card. Emergencies such as a missed flight or lost money can never be pre-planned but at least you will have some emergency funds to keep you afloat.
