Brits 'throwing away' holiday money

28 April 2015 08:43

Some passengers waste cash before getting on a plane, experts suggest

Some passengers waste cash before getting on a plane, experts suggest

Sun-seeking Britons are throwing away hundreds of pounds before they have even boarded a plane, research reveals.

Foreign exchange expert FAIRFX has found that holidaymakers can unnecessarily part with £773 by making a number of silly mistakes, from overshooting baggage allowances, to last-minute currency dashes.

The cost of trips abroad can consequently spiral out of control, leaving travellers with less spending money.

'Wasteful Britons'

Travellers have been known to invalidate insurance policies by omitting a medical condition or a previous claim on their application, in the hope of saving a bit of cash to spend once they reach their destination.

But doing so means they are effectively wasting money, as the policy becomes invalid and therefore worthless. It can actually work out more expensive than not paying for insurance at all in the first place.

The fact that travel insurance is needed to cover against any potential mishaps makes this mistake even more costly.

Expensive errors

Checking in a bag that exceeds the baggage allowance is another expensive error that travellers make, as they have to pay extra, plus sloppy form-filling when booking a trip, such as spelling a name incorrectly, can also result in an unnecessary bill.

Then there is the 'cash dash'.

Ignoring the need for holiday cash until the last minute can be a massive blow to spending money, as exchange rates at airports can be worse.

Booking a getaway that coincides with a major event also leaves holidaymakers out of pocket.

'Rush to the crush', as FAIRFX calls it, can seriously ramp up the cost of flights and accommodation.

For instance, a bad time to visit Cannes is when the Cannes Film Festival is on.

The annual event sees thousands of people descend on the south of France for the best part of two weeks, making everything that bit more expensive.

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