5 Ways To Save Money On Your Next Vacation

by Hank Coleman

How to save money on vacationWhether you are planning a vacation on the slopes or in the sun, you’ll want to get ideas on how to save money on vacation and finding a great deal.  Thankfully, there are many ways you can save money on booking a holiday.

The Internet is crammed full of discount getaways, last minute deals, and even cancellations.  But did you know there are other ways how to save money on vacation and keep your bank balance in check while still enjoying a great vacation?

Here are a few tips on how to save money on vacation.

How To Save Money On Vacation Planning

1.  Stockpile Before You Travel

If you have a few months before you are due to travel, it’s a great idea to start stockpiling items for your vacation.  Clothes, toiletries, shoes, sun cream and other items can work out to be expensive when bought at the same time so why not be a smart shopper and spread the cost of these items before you travel?

Ultimate Checklist for Your Finances

Take back control of your finances!

Get a FREE checklist for the money moves to make in the New Year.

Also get new articles, advice, and tips delivered right in your email inbox with our newsletter!

Sun cream especially is a great item to buy well in advance and there are usually lots of offers to be found on even the big brands. Try to hit the sales to buy your clothes and add vacation toiletries to your weekly grocery bill and put them away until you need them.

2.  Shop Around For The Best Currency Deal

So, you’re going to get your travel money from the bank?  Are you sure you will get the best rate? What many people don’t realize is that banks can actually be quite expensive when it comes to currency exchange and it is usually much cheaper to use a foreign exchange  specialist instead.

These companies have access to rates that are very close to the Interbank rate. This is the rate that the banks use to sell money to each other so it’s very competitive.

If you have lots of money to exchange, you by comparing the market  online and using a non-bank foreign exchange specialist. The same rules apply when sending money abroad. Don’t settle for the first deal you stumble across.

3.  Book Excursions Before You Travel

This is a great idea on how to save money on vacation because the most popular excursions and trips may be sold out before you go or you might have to resort to booking when you get there which could cost more. Try to book direct with any excursion company as tour companies can charge their own rates on top.

Most companies will email you confirmation of your booking so that you can bring it along with you on the day you are booked.  Whether you fancy swimming with Dolphins, booking some snowboard lessons or trying your hand at paragliding, you can often save a great deal by booking ahead of time.

4.  Share Accommodation With Friends

If the idea of hotel living doesn’t appeal to you and you’d rather hire a villa or house for your stay, why not share the cost between you and some friends? This is a great idea on how to save money on vacation.

This can work out to be very affordable and if you choose large accommodation you should have no difficulty getting some privacy when you need it.  Even better, you get to spend your holiday with some of your closest friends of members of your family.

5.  Compare Everything You Book Online

The first rule of online shopping is never to accept the first offer you see unless you know it can’t be found cheaper online.  And even if you do know it’s the cheapest your conscience will probably get the best of you and you’ll end up checking anyway.

By comparing the cost of your travel, accommodation, currency exchange and excursions, you could end up saving yourself hundreds for what could take a few minutes online. Check out more ways to save with Expedia coupons and offers!How to save money on vacation

Save money on your next vacation, and be a smart vacation planner.  With so many savings and good deals on offer, you can relax at your chosen destination knowing that you didn’t pay over the odds. These tips can also work if you are looking to start living in a hotel. You can actually save a lot of money by living in a hotel.

How to save money on vacation

myFICO Score Watch Trial

About Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]MoneyQandA.com.


Hank Coleman has written 593 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman.


Subscribe To Money Q&A

If you want to learn more about taking back control of your money please subscribe to Money Q&A’s RSS feed or via email to receive all the latest articles! You can also subscribe to our Free Weekly Newsletter.

{ 8 comments… read them below or add one }

Stefanie @ The Broke and Beautiful Life

I like to use ATMs abroad rather than currency exchanges since I don’t get charged any ATM fees. The hard part is withdrawing just enough to last the entire vacation and to not have any left over.

Reply

Kostas @ Finance Blog Zone

I usually look at getting a foreign currency credit card (or one without XE fees) when I go abroad, then I can pay it off when I get home and avoid the interest and the exchange fees.

Reply

Mark Ross

Yup. I totally agree with you on those. Especially on the last part, one should really compare different deals if he or she wants to get the best deal of all.

Reply

dojo

One more idea that worked for us: cook your meals. We went for an apartment during our almost 3 week Croatian vacation and had a kitchen there. We ate at home most of the time (breakfast/dinner were easy – we’d eat sandwiches, milk&cereal etc. and make our own barbecue/chips or whatever we wanted – things that take little time to do anyway). We bought the groceries from a nearby supermarket (and better prices than on the beach) and saved a lot of money. Let’s say we left home with 2.2K Euro and got back with 800 (when we expected to spend it all).

Reply

Jay@MoneyRebound

This really excites me. I think everyone needs a vacation once in a while to get away from their regular lives and just enjoy what they have and what they have earned. It gives people some motivation as well to improve and just do more as well, at least it is in my opinion.

Sharing your post on Google+! Good one!

Reply

Jack @ Enwealthen

+1 for apartment rentals.

For extended vacations, they can’t be beat. We rented an apartment for a few weeks on St. Kitts and bought our groceries and cooked most of our meals in. Not only was the lodging larger and nicer than the hotel, it was cheaper. Add in the food savings and we had a great time for a great price.

Reply

Simon @ Modest Money

There is much to be said about researching and comparing deals online. i think one stands to unearth deals that will more than make up for the time and hassle of researching.
That and using credit cards with rewards, you enjoy the holiday and due to rewards and cashbacks you end up saving or getting more for your money.

Reply

Ben

I’m a big fan of getting more ‘vacation’ out of my vacations. One tip I like to follow is to ask a local. Granted sometimes they’ll steer you into tourist traps but often a local will know the best places to go. I always like to go where the locals go, the quality will be much better and often cheaper.

Reply

Leave a Comment


Previous post:

Next post: