Consumer Corner: Booking a holiday? Handy tips on getting the most bang for your buck

"...if your charm and chancing doesn’t work, then there are many ways to save and plan for a successful, stress free holiday."

Consumer Corner: if your charm and chancing doesn’t work then there are many ways to save and plan for a successful, stress free holiday.

Nothing like a blast of cold air hitting your face as you open the front door to get you thinking about a sun holiday. Now is peak holiday planning season to get that “something to look forward to” feeling.

There are always rumours that Sunday is the cheapest day to book a hotel or flight, or to email the hotel before you arrive to ask for any cheap upgrades. It’s always worth a try. Securing a good deal with your getaway falls into the ‘if you don’t ask, you don’t get’ category. However, if your charm and chancing don’t work, then there are many ways to save and plan for a successful, stress-free holiday.

Holidays can take many forms, be it a family getaway or a girls’ trip. Planning and saving will make it all that sweeter when the time comes to pack your bags.

Peopl Insurance CEO Paul Walsh said that before booking a trip, start saving well in advance.

“The earlier you start to save, the better,” he said. “If you are struggling to put money aside regularly, you might consider giving your holiday savings goal a boost by cutting back on some non-essential expenditure in the run-up to your trip.

“Many find that a great way to instil a savings habit is to set up a monthly direct debit or standing order into a savings account from your main bank or credit-union account, which you cannot access easily. This way, you don’t even have to think about it when your pay cheque comes in.”

Revolut is a fantastic way to save for a trip, well in advance of the holiday and to decide among the group how much you will be putting away each month. Get a Revolut Vault setup and the money will go in automatically each week or month. It can really add up, too.

Kevin Johnson, CEO of the Credit Union of Development, said that creating a realistic budget will illustrate where you are financially, and how much you need to save.

“Use your current account statements to write down a detailed list of all income and expenditure to see where savings can be made,” Mr Johnson. “It might be useful to review your other expenses and providers, to ascertain if there are cheaper deals available by switching providers, such as credit cards, insurances, phone, and utilities. Once you have identified the areas you can make cutbacks in, you can then decide how much you are prepared to save for your trip each month.”

Also, make sure you are up to date on paying your bills and check to ensure you have enough funds in your account to cover any direct-debit payments.

“This will make it clear how much money you have left to spend on your holiday and will give you peace of mind, knowing your bills are paid,” said Mr Johnson.

“Saving a little extra, if you can afford it, is always advisable to cover any unexpected costs while on your trip.” He also advises against using credit cards to fund a holiday as, he says, they are the most expensive form of borrowing, even when you are making the required minimum repayments.

“Any extra savings you have squirreled away will help you to avoid withdrawing cash with your credit card as the interest may cost a lost more and you will have to pay an additional fee.” Experts also say to watch out for baggage fees as you can get caught for a lot of additional extra money. Also, sign up for email alerts from hotels and travel agents and use price-comparison websites like Skyscanner and Google Flights.

To cover the unexpected, travel insurance should be considered.

Jonathan Hehir, managing director of insuremyholiday.ie, said holidaymakers leave themselves vulnerable to harsh financial penalties and miss out on the full extent of their insurance cover by leaving it until the week of, or even day of, travel to take out a policy.

“Industry data reveals that ‘cancellation of travel’ is one of the main reasons people claim on their travel insurance.

“So people who leave their travel insurance to the last minute may not have any insurance safety net to fall back on and run the risk of having to fund the cost of the cancellation themselves.” Anyone travelling more than once throughout the year should consider buying an annual multi-trip policy.

“It is a cost-effective option when compared to taking out single-trip insurance each time and it gives you one less thing to think about before your trip.” Also, when making your travel plans, ensure that your chosen destination is covered by your travel insurance policy.

“Some countries or regions may not be covered due to conflicts or natural disasters, so it is essential to check with your insurer to guarantee you are fully covered.” If you have a pre-existing medical condition, you must inform your insurer when purchasing your policy.