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When you're planning a holiday, you probably focus on the basic costs involved, such as the cost of the holiday itself, spending money, transport and travel insurance. But what about those unexpected costs? It's always wise to plan ahead and factor a few mishaps into your holiday budget, because if not, you could have a rather hefty bill on your hands.
Research from Satsuma shows that the average holidaymaker saves £460 for spending money, but they don't always factor in the extra costs involved in travelling. For example, 26% find they have to pay extra to use wi-fi at their chosen hotel and 15% are even charged for air conditioning, while 19% are hit with excessive luggage charges before they've even left UK soil.
Other issues that can cost you dearly include unexpectedly being charged tourist tax at the end of a stay (something that's impacted 43% of travellers), having expensive liquids taken from your hand luggage (25%), charges for not printing your boarding card or staying too long in the car park (both 5%), lost luggage (14%), being charged to bring back items (3%) and even the hotel not having a record of your booking (7%), double booking (6%) or not accepting your booking (5%), all of which could mean you end up spending far more than you bargained for.
Indeed, the research shows that the true cost of a holiday can far exceed initial expectations: the average cost of a holiday package among respondents stood at £713.16, with spending money coming in at £458.70, but that's where many people stop calculating.
They often forget to think about things like transport (which can cost an average of £155.98), upgrades (£98.73), pet care (£86.70), clothes for their children (£84.96) and themselves (£80.62), airport parking (£62.80), childcare (£51.91) and house care (£51.66), and some even forget to factor in the cost of travel insurance (£70.07).
As a result, your bargain family holiday could actually cost the best part of £2,000, and that's before those "mishap" expenses have been accounted for. So make sure you plan ahead! That means saving as much as possible for your well-earned trip, making sure to factor a contingency fund into proceedings, so you've got enough to cover every eventuality. You may want to do that by taking the "little and often" mantra – even small amounts saved on a regular basis can soon add up, so perhaps opt for an easy access savings account or even a regular saver version to make the most of your funds.
Don't forget about travel insurance, either. This is one expense that should never be scrimped on, but that doesn't mean you want to spend a fortune – use our travel insurance quote tool to get the cover you need at a price you can afford, and that way, you can tick one thing off your list well in advance of your holiday, and feel prepared for any mishaps that could come your way.
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