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Longer holiday planning doesn’t help wallet

Longer holiday planning doesn’t help wallet

Category: Travel
10/04/2018

You may think that the longer you take to plan your holiday, the more money you will manage to save, but new research from American Express has found that longer planning times don't necessarily make for cheaper holidays. Indeed, their findings show that those who take less than 24 hours to plan their trip end up spending the least on average.

They've found that it is often impulsive holidaymakers who manage to find the greatest bargains, with the holiday cost of those who've spent less than 24 hours to plan their holiday at £124 a day for a seven-day trip. In contrast, those who spend one to three days planning spend an average of £132 per day, while those who take a week spend £160 and those who plan for two weeks end up spending £198 per day.

This'll be particularly disappointing news for those who spend longer planning their time away than actually being on holiday. Overall, the research finds that Brits spend an average of nine days planning their perfect getaway, which normally lasts only one week, and this ends up costing £1,190 each on average (£170 per day).

Of course, you may enjoy planning your time away, and feel that this adds to the holiday experience. Thinking about your holiday in advance may be part of your ritual. However, if you don't enjoy those nine (or more) days spent planning your next trip, you could try winging it for once – it doesn't have to cost more.

"It's great to be organised, but even the most carefully planned holidays can see costs add up," commented Maggie Boyle, director at American Express. "Knowing you're spending wisely will help you enjoy your well-earned break. Whether by using frequent flyer points or by earning cashback on purchases for your trip, there are many ways to make your money go further, no matter how long you've spent planning."

What next?

It's always a good idea to have travel insurance – an annual policy could work out cheaper over the long term and means one less thing to worry about when taking a last-minute trip

To minimise expensive currency exchange and ATM fees, consider a prepaid travel card or travel credit card

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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