Make your travel money go the distance

Holidays are a precious commodity to be savoured, and with the cost of living in the UK forever increasing, we need to get as much as we can out of out holidays. So here are some tips to make your holiday spending go further.

Always buy your currency in advance online instead of making a mad dash for it at the airport. You can order cash online with no comission and free delivery from sites such as Online FX. With them, purchasing 1000 euros would cost in the region of £892.46. Make the same purchase through Travelex at Heathrow would cost £949.31 – ouch!

Use your credit card with caution – many have steep fees for use outside the UK. The Halifax Clarity Credit Card and Santander Zero Credit Card have no charges for use abroad, so it might be a good bet to look into applying for one, if that's the way you want to play it.

Likewise, debit cards often charge for use abroad – often £2-£3 for each use. If you frequently travel abroad then you might be better off opening an account that doesn't charge for foreign usage.

When you return, and find that you have money left over, don't rush into exchanging it back, as it can be costly. Providers like Travelex and Thomson/First Choice offer a guaranteed buy back rate at the price you bought the currency, with a small charge.

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