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Eight tips to enjoy these holidays without going bankrupt

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The holidays are finally here, the most awaited moment of the year for you… and the most feared for your pocket. Flights, hotels, meals, activities… summer plans tend to ‘eat’ a significant part of your savings (perhaps your extra pay), so any idea that helps you not spend so much is welcome.

And more in a context like the current one, in which prices do not stop rising. Inflation closed the month of June above 10%, at levels not seen since the 1980s. Come on, trying to save as much as possible on vacation is more interesting than ever.

Spaniards are expected to spend an average of 610 euros on trips this summer, less than before the pandemic, but 22% more than what was spent last year, according to the report ‘Habits and behaviors of national tourists ‘, published by the National Outbound Tourism Observatory last June. A high budget that 89% of citizens will face, which according to this study are those who plan to go on vacation this summer.

Once the worst of the pandemic has passed, this year international destinations will triumph, which increases spending considerably. So don’t get confused and take note of these eight recommendations that will be very useful to avoid going bankrupt with your vacation expenses.

Book the trip in time… or at the last minute
If you don’t want flights or train journeys to cost you an arm and a leg, a good trick is to look at it ahead of time. It does not happen with all destinations, but for many you will be able to find much cheaper plane or train tickets the sooner you book them. Of course, if you leave it too much, it is also possible that you find some last-minute ‘bargain’. In any case, keep in mind that buying flights also has a trick and these recommendations will be useful for you to get them cheaper.

Download ‘bargain’ apps
The Internet has come into this world to make your life easier and, specifically, the search for ‘bargains’, especially if you’re short on time. You will find a lot of websites and applications with last minute or longer term bargains to make your trips. Among them are Pirate Travelers, BuscoUnChollo or Globetrotters.

Compare prices
If you do not find anything that fits you in them, you can always resort to the comparators of a lifetime. For trips there are many websites through which you can book accommodation, routes or combined packages with which you can save something. Sometimes, in addition, these websites will have their own offers, different from those of others, so it is very useful to compare prices on several pages and see where the same trip is more profitable for you.

Become a points expert
Travel apps can help you in another way too. Some, such as Expedia, Travel Club or Iberia, allow you to accumulate dozens of points for each accommodation, flight or package you contract, which will be used to apply discounts on future trips. And this is not only possible in travel apps, but also in others that you use every day, such as those for some credit cards. Keep in mind that managing these points can save you a lot of money.

Save little by little throughout the year
A very useful trick so that it does not hurt so much to pay for vacations is to save little by little during the year. Think that if you manage to get 50 euros each month for this purpose in ten months you can have accumulated up to 500 euros without realizing it. And if this doesn’t fit you, you can always resort to one of the 10 best ‘apps’ to save or follow these tips to save money without realizing it.

don’t go into debt
Bearing in mind that the average spending on vacations is around 600 euros, a very easy resource is to request a credit to pay for vacations, but it is not highly recommended. This easy money has a price, interest, so it is not a good way to save.

“If we have not been able to save much for the holidays and we need financial aid, it is worth evaluating very carefully whether it is worth applying for some type of loan for the holidays, taking extreme precautions before contracting any product that forces us to pay very high interest or that encloses some clauses in the small print that can condition our economic capacity in later months. It is better to adapt our vacations to our possibilities”, they explain from the Financial Education department of EFPA Spain.

Make a travel budget
In this sense, these experts also recommend designing a budget according to our financial situation and trying to stick to it. “We must plan a budget completely adapted to our economic capacity, where we include all the expenses of items that cover travel, accommodation, daily maintenance or leisure activities, including an extra item for other types of unforeseen expenses”, they expose from EFPA Spain .

Be careful with currencies
As the Observatur report indicates, this year foreign travel is gaining strength, after the years of the pandemic, in which national tourism has triumphed. If you are among those who intend to leave our borders for a few days, it is possible that you choose a destination with a currency other than the euro and you must be very careful with the exchange rate.

“It is opportune to prioritize payment via card over payment in banknotes, which have a worse change”

The experts at EFPA Spain recommend, before the trip, contacting the bank to review the conditions of the credit and debit cards, as well as their agreements with local entities.

“And if they use a currency other than the euro at the chosen destination, it is advisable to travel with the local currency in your pocket and avoid as much as possible transactions with banks or exchange offices in the country or at the airport itself,” add their experts, who highlight the need to find out in advance about the exchange rate against the euro and its variations. “In addition, as a general rule, it is appropriate to prioritize payment via card over payment in bills, which have a worse change,” they add.

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