Despite inflation and the growing cost of living, holidays remain at the top of our lists. We are only getting smarter and handling our budgets right. And planning a holiday remains at the top of our annual plans. If you are planning a holiday in 2024, there are many cost-cutting measures you can consider. Whether it is traveling to a new country or in the off-season, there are plenty of different ways you can make the most of the holidays without going over budget.

Look for a destination that has a low cost of living

Before you start looking at pictures of the places you want to visit, take some time and carefully consider the destination. There are many places where the cost of living is low, and you could find value in every dollar you spend. Consider the prices of meals, drinks, hotels, and other essentials. This will give you an idea of how much you will be spending there. If you are planning a city getaway, consider an Eastern European city like Budapest or Prague instead of the famous Paris and Rome. This will help you keep the costs in control while ensuring you make the most of the European cities. 

Research cheap eats before heading to the destination 

We tend to spend the maximum amount on food, and the easiest way to keep it in control is to dedicate some time researching the destination. Look for news articles or research online and identify good-value cafes or restaurants. You do not want to compromise on the quality or the type of food, but you need to find places that offer value for money. Once you reach there, speak to the locals about where they eat often and avoid eating near the main tourist attractions as they could be really expensive. Try going back to a few streets, and you will find cheaper places. Several restaurants also offer a fixed menu once a day and this turns out to be cheaper than eating three different meals at three different places. 

Book an all-inclusive holiday 

This might not be for everyone, but booking an all-inclusive holiday can turn out to be a cost-saving measure. It will lock in the food and drink costs since you will be paying upfront, and you will be able to use the remaining balance for other purposes. You also won’t have to budget for those little things that can add up during a holiday. When you book a hotel or Outer Banks Rentals, you will have entertainment options included in it too. Think of live music or kids’ clubs and play areas. If you are traveling with children, you could pick a resort with a waterpark so you will not have to spend money on a day out. You can find some great deals if you spend enough time looking for them.

Travel in the off-season  

You can reduce the holiday expenses if you travel in the off-season. Depending on the destination, look for an off-season period if your work or other commitments allow. Consider January to March for the city breaks, it might be colder then, but it will have fewer crowds and lower prices. When you calculate the costs, the compromise is worth it. You can also look at the last week of the school break, as this is when the prices are the best. The peak season or the school holiday period means higher prices, and you will pay more for the flights, hotel, and food.  

Get the currency right

If you are traveling to a new country, you could end up paying a huge amount of travel money. There are unfair exchange rates and high credit card fees that can ruin your budget even before you know it. Hence, compare the exchange rates before you fly to the country and do not leave it last minute because the airport will charge you a very high rate for currency conversion. You can also convert the currency in your country before you board the plane, and remember to pay in the local currency at the restaurant. Even using your credit card will cost you more. Try to dodge the high fees by looking for a card that allows you to spend abroad and has zero foreign transaction fees.

Lastly, remember to purchase travel insurance before you embark on your holiday. Hopefully, you will never need to use it, but if something goes wrong, your travel insurance can save you a lot of stress and money. Planning a holiday can be exciting, but you must ensure not to exceed your budget. No matter where you are headed, the right planning and booking will help save a lot of money in the long term.