How to get value for money on holiday this summer

The summer getaway season is here, but with recent falls to the pound hitting the spending power of those travelling abroad, some holiday budgets may be feeling the strain.

And, according to comparison website TravelSupermarket, as well as the weaker pound to contend with, many holidaymakers are pushing their costs up by not prioritising properly.

It found many families are leaving key pre-holiday tasks until the last minute - potentially making their trips hundreds of pounds more expensive.

Rather than keeping a close eye on the movements of the pound and trying to exchange currency when they might get a better rate, one in six (15%) holidaymakers don't buy their currency until the day they are due to depart.

When it comes to preparing for their trip, many holidaymakers prefer to prioritise what they enjoy rather than more practical jobs, the research among 2,000 people in July found.

One in 20 make their holiday driving playlists before booking their hire car.

And for many, perfecting their glam look for their trip takes priority.

Shop it

Some 46% of people buy new clothes for their trip before purchasing currency.

While clothes may get you in the holiday mood - and perhaps you can visualise yourself sipping sangrias while wearing those palm print shorts hanging on the sale rail in the shop - will you actually wear them?

The survey suggests maybe not. One in four (25%) holidaymakers don't get round to wearing all their new clothes or swimwear.

On average, nearly one in five items in these travellers' suitcases end up going home unworn or unused.

Most holidaymakers come back with at least three unworn garments gathering creases in their suitcase - and one in five will return with at least one unread book according to TravelSupermarket, which is part of the Moneysupermarket.com group.

Brexit bite

Bob Atkinson, a travel expert at TravelSupermarket, says: "Brexit has seen the pound weaken considerably, so it is more important than ever before to plan ahead so your holiday budget goes as far as it can.

"Planning ahead can ensure you have more money to spend on holiday essentials like sun cream, meals out and excursions."

Atkinson says a fifth of holidaymakers admit they leave practical tasks too late, even though they know it will cost more money.

He says: "If you don't have an annual policy, travel insurance should be bought the moment you book your holiday - any later could result in you losing money if you have to cancel your trip for unexpected reasons."

Atkinson says even basic mistakes, like not checking the weight and size of your suitcase allowance, could end up costing a family hundreds of pounds in excess baggage charges.

Never too late

But it's not necessarily too late to get your finances shipshape.

Atkinson says: "Purchasing your currency is one of the last things people do before they leave, so get organised and make sure you get the best deal that will make your money go further."

Meanwhile, separate research offers those travelling overseas some reassurance about how far their money will stretch.

Post Office Travel Money found while resort prices are up on 2015 levels, when sterling was at a seven-year high, meals, drinks and tourist items cost less in several places than they did between 2011 and 2014.

Andrew Brown from Post Office Travel Money says: "Sterling may have fallen recently, but when you compare its value with every other year since 2011 except 2015, holidaymakers can be reassured that the cash in their pockets will cover their costs - particularly as bars and restaurants in several of the resorts we surveyed have cut their prices to attract tourists."

For many families, the big challenge could be sticking to their budget.

Brown says: "Keeping a tight rein on the holiday purse will be crucial this summer and that is going to be a big challenge for many because our latest research found that only one in five families stuck to their budget on their last holiday.

"The majority of families said they overspent by an average of over 25% - or £178 - on the £694 budget they set."

WHERE... CAN YOU STILL GET VALUE FOR MONEY THIS SUMMER?

In some destinations, the pound is still stronger than it was a few years ago, according to FairFX travel money - so if you're open-minded about where you go you may be able to cut some costs.

It suggests that those looking for a getaway might want to consider places such as Argentina, Russia, Zambia, Mexico, Norway, Canada, South Africa or Sweden.

And there's good news for GB athletes and supporters at the Olympic Games, with the pound 24% stronger against the Brazilian Real compared to three years ago.

FairFX suggests setting up a currency alert so you can buy when rates are in your favour. You can lock in rates by loading a pre-paid currency card which will help protect against any future falls and can be used abroad.