Monday, 27 August 2012

Tips for Saving Money while Planning a Holiday

1. Airline Tickets – Airline tickets typically constitute the most expensive part of your vacation. There is usually a huge price difference if you book tickets last minute versus if you book tickets well in advance. Plan your trip in advance and book your tickets as soon as possible. This will give you significant cost savings.

2. Connecting Flights – Usually connecting flights are cheaper than direct flights. For a little bit of inconvenience, you might be able to save a lot. So, consider the pros and cons of direct flights versus connecting flights and don’t rule out connecting flights right away.

3. Travel Light – Airlines are starting to charge for everything now and if you have 2 bags or more, expect to be charged for it. Remember to not use over-sized bags, strictly adhere to the weight limit specified by the airline and try to keep it all within one bag per person. Also, keep sufficient space in your bags for your return journey if you plan to shop a lot.

4. Round Trip Tickets
– Usually, round trip tickets are much cheaper than one-way tickets. Therefore, book round trip tickets to reduce the total cost.

5. Same Airport – Try to get back to the same airport where you started your journey. Flying in and out of the same airport is almost always cheaper. It’s not only cheaper for the flight tickets but also for car rentals.

6. Traveling to Two Countries – If you are planning to visit two countries and your airline has a stopover in one of those countries anyway then you might be in luck. Check pricing on the flights to see if you can stay a few days at the country of the flight change instead of changing planes right away since airlines often let you do that for the same price.

7. Forex – Once you have finalized travel plans, monitor currency exchange rates and purchase currency in advance. You might be able to get good rates when you have sufficient time. Purchasing currency at the airport will cost you much more.

8. Travel Insurance- Think of travel insurance as not an additional cost burden but a way to prevent expenses due to unforeseen circumstances. It is always advisable to take insurance coverage while traveling internationally as it provides a financial cushion in the following circumstances:

• Your flight has been cancelled.
• Your bags are lost and your medication is in it. You need to have an emergency prescription filled.
• Your passport and wallet are stolen, and you need emergency cash and a replacement passport.
• You're involved in an accident and adequate medical treatment is not available.
• You need medical evacuation.
• You need to cancel your trip due to illness.

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