At a time of soaring inflation and higher living costs, many Brits still feel travel is worthwhile, according to the Consumer Spending Index. Spending with airlines increased by roughly 32.1% this April, meaning people book holidays to look forward to later in the year. Holiday costs vary depending on the destination, accommodation, activities, and other factors. If you’re just like everyone else, you’re not willing to cut back on travel. Because it’s more expensive, you’ll want to make the most of it but don’t run frantically from one must-see sight to the next.
Planning can minimise inflation’s toll on your travel budget, so you don’t have to skip your trip this year. You can ensure your dream holiday is within reach while managing spending responsibly. Here are the most common mistakes to avoid so that you don’t blow your travel budget.
Not Cancelling a Reservation on Time
If your travel plans change suddenly, it could be worth your time to check the cancellation period to avoid losing any deposits. Not cancelling the reservation on time could cost you pennies, so don’t leave it for tomorrow. Your rights depend on the terms and conditions of your booking and the circumstances around your reason for cancellation. If you change your mind about going, cancel the reservation on time. You’ll be covered for cancelling the trip If you have travel insurance. Getting on the phone to talk to a customer service representative is rarely an efficient option, so cancel online or by email to save yourself a headache.
Not Budgeting for Airport Parking
Not factoring in hidden fees is a mistake because they eat away at your spending budget. You’ll want to add transport-related costs, such as parking expenses, to your budget. Airport parking can give you peace of mind owing to the security measures available, but it comes with a premium price tag. On-site car parking lots are closer to the terminal, offering more convenience. Maybe so, but if you plan to go away for the summer, you should avoid parking at the airport because some airports are increasing costs to cash out on the busy travel season. Park a bit away from the airport. If you’re flying out of Heathrow Airport and want extra pocket money, off-site parking Heathrow makes the experience run smoothly.
If you want to avoid parking fees altogether, one option is to ask a friend or a relative to drop you off at the airport. Still, some airports charge for using the drop-off zones, so your designated driver shouldn’t hang around too much. Airports like London Stansted offer one hour free of drop-off zones. Speaking of which, you can save pennies on your car parking at Stansted Airport by searching for an off-site parking Stansted lot ahead of time. It’s more affordable, easier to find a spot, and offers a good sense of security.
Not Informing Your Bank of Your Travel Plans
A frozen credit card during your trip can hamper your holiday, so let the bank know about your travel plans. Let the bank know when you’re leaving, where you’re going, and when you plan on coming back home. If you try to use an ATM in a new country without notifying your bank, it will be considered suspicious activity, and your card will no doubt be blocked. Every bank works differently, but if you use online banking, it’s likely you have the option to enter your travel destination and the length of your trip. Of course, you could simply call your bank to set a travel alert on your account.
Skipping Food and Entertainment
Food and entertainment are on everyone’s budget. Food can be pricey, besides certain options not being healthy, so when budgeting for food, start with your normal grocery budget. You can spend some of your money on dining out, but it’s better to prepare your own meals or select affordable grab-and-go options. Bring key items that will help you save money and calories, like fruits and veggies, and set aside some time for physical activity. Decide before your trip where you’ll indulge so that you make conscious choices. Accepting a longer walking distance will counteract the extra calories you’re eating.
If you’re staying at a hotel, look for accommodation that offers children’s programs or holiday activities. These can range from board games and movie nights to wine tastings and cooking classes. It’s easy to get bored during your break and be left sitting around with nothing to do. Because of higher costs, you might be feeling the pinch. Even if you have less to spend, you can include fun in your budget. Set a spending limit and only take that amount of cash with you; you’ll have hit the spending limit when the money’s gone. If you make purchases on your credit card, you’ll end up spending substantially more money.
Overstaying Your VISA
If you’re a visa holder, it’s not a good idea to overstay your visit because you could face a fine and immediate deportation. In some countries, overstaying your visa can be particularly expensive. For example, the penalty for overstaying an exit visa in Saudi Arabia is 100 SAR (£22.99) per day of overstay. Other countries, such as the United States, issue travel bans. You may be barred from returning for three years or ten years, depending on the unlawful presence. To avoid overstaying your visa, leave the country before the expiration date. An overstayed visa never goes unnoticed.
Wrapping It Up
It seems that Brits aren’t ready to give up travel, so it remains a spending priority. If you, too, put your holiday at the top of your discretionary spending activities, economise in other areas. Keep your hard-earned money working for you by avoiding the aforementioned travel mistakes. Stick within your travel budget to manage money efficiently so you can afford your holiday. Travelling with someone who has a bigger budget can be tricky. Slowly but surely, you’ll find yourself agreeing to more expensive outings, so pick an adequate travel buddy or travel solo.
