5 Smart Money-Saving Tips for Your Summer Holiday, According to a Finance Expert
With new research showing 83% of UK holidaymakers are trimming their summer travel budgets amid cost-of-living concerns, families are searching for creative ways to enjoy their much-needed breaks without financial strain.
The recent survey also reveals that while Britons remain determined to travel, they’re increasingly anxious about rising costs – with 40% specifically worried about the increased cost of living and 36% concerned about rising travel expenses.
“It’s no surprise that many across the UK are rethinking their holiday plans this summer. With rising living costs and economic uncertainty, even the idea of a break can feel out of reach,” says Olle Pettersson, personal finance expert and editor at Finansplassen. “But a holiday doesn’t have to mean overspending or going without — there are smart ways to cut costs without compromising on comfort or experience.”
Pettersson shares five effective ways to save money on your summer holiday:
Lock In Today’s Prices Before They Increase
Protect yourself from summer price hikes with minimal upfront cost. Take advantage of “price freeze” features on major booking platforms. For a small fee, you can lock in current prices for flights and hotels while finalising your holiday details.
Stack Credit Card Travel Benefits
Combine existing card benefits in ways most consumers never consider. Review all your current credit cards for overlapping travel benefits that can be combined. For example, use one card’s airport lounge access with another’s free travel insurance, while using a third for actual purchases to maximise points.
Turn Layovers Into Free Mini-Breaks
Get two holidays for the price of one through strategic booking. When booking flights, specifically search for options with extended layovers (24+ hours) in interesting cities. Many airlines allow these “stopover” tickets at little or no additional cost compared to direct routes. This effectively gives you two destinations for the price of one ticket.
Book Directly with Hotels
Secure immediate discounts that no comparison site can match. Call hotels directly and use this specific phrasing: “I found your property on [booking site] for [exact price]. I’d prefer to book directly with you – can you offer any special rate or perks for direct booking?” Hotels pay commission to booking platforms and are often willing to share those savings with you for booking directly.
Set Up Price Drop Alerts
Let technology monitor price drops while you focus on holiday planning. Set up price alerts on multiple platforms for your exact travel dates, then wait for the algorithms to identify temporary price drops. Unlike general seasonal trends, these micro-drops often last just 24-48 hours and occur when airlines or hotels need to improve cash flow or occupancy projections.
Pettersson adds:
“Holidays aren’t off the cards — they just call for a smarter approach this year. You don’t need a luxury budget to create meaningful memories, but you do need a plan. With a few thoughtful choices, it’s entirely possible to enjoy the break you deserve without putting extra strain on your finances. At a time when everything feels more expensive, making your money go further has never been more important.”