Money-savvy travel series: How to keep costs down before your holiday

Book Smart: Flights & accomodation

To get the best deal on your flights, you could look at flight comparison sites these are a great place to start and might help you find the best deals. You can even set up alerts to let you know when prices drop.

Remember that flights tend to cost more at the weekends, school breaks and Bank Holidays. For the cheapest prices, aim to fly midweek or off season to save money. And if your local airport only has expensive flights, consider flying from or to a secondary airport instead, as it could be more cost effective.

Choose budget-friendly accommodation

Hotels tend to come with a premium price tag, but they’re not your only option for comfortable accommodation.

Why not book a more affordable apartment instead? Accommodation booking platforms often offer better deals, especially for longer stays. For those on a tighter budget, hostels and budget hotels could be the answer. These are fantastic options for solo travellers and those who don’t mind shared spaces, this type of accommodation can be very budget friendly.

If you travel often, have a look into some airline and hotel reward schemes. These can be a clever way to save as they allow you to collect points with every booking, which you can redeem for discounts and freebies at a later date. TSB customers can also use My TSB Rewards to save money on their next holiday.

Plan your travel money wisely

Just like at home, you can use cash or card on your holiday. But there are things to consider, for instance, any charges that might apply. Did you know that with our Spend & Save Plus account there are no TSB charges for using your Spend & Save Plus debit card abroad?

Make sure to take any cash out before you travel to get a better exchange rate than at the airport. Local currency in your wallet is always handy for tipping and small purchases. But it can be quite stressful carrying a lot of money around with you and keeping on top of how much budget you have left.

Be sure to use a safe if there is one at your accommodation so you’re not carrying all of your money with you. Most shops, bars and restaurants abroad will accept debit and credit card payments, and you can also take out local currency from an ATM if you need it. Bear in mind, that most card issuers will charge some fees for overseas spending, which can add up over the course of your holiday.

Check to see if it’s cheaper to pay in the local currency rather than your home currency before you go on your holiday and remember you can select this option on the card machine when you pay. If you do choose to pay in locally currency, the amount you’re charged might change a bit depending on the exchange rate and any extra fees your card provider adds. A prepaid travel card is also a great option. Secure, convenient and brilliant for budgeting, these handy cards are easy to top up, widely accepted and protected from loss and theft. For more practical tips about holiday money, have a read of our helpful guide on using your cards abroad.

Travel insurance Don’t skip it!

Travel insurance is one of the most important things to buy as soon as you book your holiday. From lost luggage to flight cancellations, travel insurance provides invaluable financial security if something unexpected happens before or after your trip. It’s a particularly useful thing to have if you become ill abroad, as overseas medical bills can be very expensive.

To find the best value travel insurance policy for you, use insurance comparison sites they have hundreds of policies to choose from, you can filter policies by various types of cover, excess and other variables to suit your needs. Be sure to check if you have existing cover before you take a new policy out. You may already have travel insurance included as a work perk, or with a bank account or credit card.

Park smart and avoid extra costs

Nothing ruins a holiday more than unexpected baggage fees at the check-in desk. To save yourself the hassle, and hundreds of pounds last minute, get familiar with your airline’s baggage policy. Buying extra baggage or adding on additional weight is so much cheaper if done online in advance. Make sure you’re only bringing the essentials. 

Pack your own power adaptors, basic medicines and reusable water bottles to save you buying duplicates abroad. Packing cubes are also a great idea to keep your packing compact and organised.

If your mobile plan doesn’t include any data roaming abroad, you can incur some hefty fees if you use your phone’s data while you’re away. Be sure to stick to WiFi to reduce data costs and download some offline maps and apps before you travel so you’re not caught short.

Planning ahead means you can relax and really enjoy your trip without stressing about money. If you’re looking to save for your next holiday, take a look at TSB’s savings accounts you can compare these to find the right one to suit you. Or, for more budgeting advice, check out our detailed blog on How to Build Savings.