5 tips to save money on your 2020 holiday

With the January blues setting in, the weather getting worse and the New Year sales, now seems to be the perfect time to book your holiday for 2020.

From budgeting spending money to accommodation prices, travel money provider WeSwap unveils some ways you can save your money on this year’s travels.

Plan your holiday money

Do not wait for the last minute to exchange travel money, plan ahead. Do not fall victim to rip-off rates of merchants in airports. A research conducted by WeSwap reveals that on average we return back from our summer holidays with an excess GBP 90 per trip. It is better to know how much you need and add a little buffer and prepare the money in advance.

Shop around

For choosing an ideal hotel, the price has always been a prime factor. Before booking any hotel have a cross-check or comparison of the price with various other hotels. By doing this, you may come across hotels which provide the same facilities and accommodations but the price charged by them may vary a lot.

When it comes to price it is believed the high costs may tend to offer a lot better experience. But that’s not always the case. Sometimes you may get beautiful and outstanding staying experience at cost-effective prices. Also, booking your desired hotel early may save a lot of your money through the benefits of early-booking rates.

Don’t get stung by ATM fees

As Britain continues to move further towards a cashless society, it is easy to forget that many countries we visit continue to use cash more frequently than card. The increasing problem for holidaymakers is knowing exactly how to spend their holiday money when abroad.

It is important to ensure you are getting the best rates for your money as well as using a travel card that doesn’t come with hidden charges such as ATM fees and transaction fees. By researching travel cards, holidaymakers can travel safely in the knowledge that purchasing travel insurance will not take them over their budgets.

Avoid scams

According to research by the Association of British Travel Agents (ABTA), 5,000 British tourists lost more than GBP 7 million to travel-related scams after purchasing counterfeit airline tickets, accommodation and organised tours. If you are ever unsure about purchasing, don’t act. A genuine company will never rush you to take action, so be aware of fraudsters trying to hurry you into making a purchase. Secondly, if you are using a card, always make sure your mobile telephone number and email address registered with the card provider is up to date.

Don’t waste your leftover money

According to WeSwap research, GBP 819m worth of foreign currency sits in kitchen drawers and piggy banks across the nation and only 9% of Brits change back their leftover currency. This results in Brits being GBP 2.5 billion out of pocket for other holidays throughout the year.

Research has shown that only 10% of us use our leftover holiday money to buy gifts or souvenirs and a mere 9% of people change their money back. Although purchasing products at duty-free is one option, WeSwap customers are able to send back spare foreign currency notes they have remaining following their holidays. The travel money provider then converts the currency back into GBP and puts it straight back onto the customer’s WeSwap account within a speedy three working days.

Rob Stross, CMO of WeSwap, said: “When it comes to holidays, there is always a lot to think about and quite often, things such as holiday money or insurance often fall to the bottom of the list of holidaymakers’ things to do. For those who are looking to book their 2020 holiday, it pays to be aware of pitfalls which could result in you paying a lot more than you had anticipated and know where you can save money.”