Combat the Cost of Half Term Holiday Hikes
New research shows that holidays face paying premiums of up to 269 per cent for a half term holiday this February.
In the run up to half term, Santander Cards looked at the cost of a week-long trip for two adults and two children to five popular holiday destinations - Mallorca, Lanzarote, Gran Canaria, Orlando and Chania in Crete.
Popular overseas holiday destinations such as Florida and Crete are on average 53 per cent more expensive between the 19th and 26th of February, when most schools break for half term, than two weeks later when the schools return.
“Holidays abroad during peak season will inevitably be subject to some price inflation because demand is so high. However, at a time when the cost of living is rising sharply and many families are still feeling the pinch, it's hard to justify such massive premiums,” says Ian Coles, Director at Santander Cards.
"The price of the hotel and flights is only a fraction of the overall holiday cost, particularly for active families and those with children, but there are ways to reduce everyday spending and cut out unnecessary costs whilst abroad.
Anyone going on holiday this half term could save money with a travel money card, especially if they want to save money on currency and charges while away.
The benefits of travel money cards over travel cash is that you typically get better exchange rates from prepaid travel money cards compared to most foreign exchange bureaus, plus you do not have to pay traditional foreign charges associated with using credit and debit cards abroad either such as withdrawal fees and purchasing fees.
As with all personal finance products however, it is always advisable to compare different travel money cards to find the best deal for your individual travel plans and financial circumstances.