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Planning your end of term holiday

Taking a holiday can be the perfect way to celebrate after a year of studying. So to help, here are some tips for planning the ultimate student break.

How to plan your student holiday

1. Start saving for your holiday

Avoid using your overdraft by saving up some money in advance. Start by opening a savings account and set your trip as your goal. Then, try to keep this goal at the forefront of your mind as this will help you reach your target. 

 

Explore more: How to save money

2. Plan a budget

You don’t want to blow all your money in the first few days of being away, or spend everything you have and leave yourself short for when you come back. Take some time to sit down and create a realistic budget that will last the length of your holiday. Don’t forget to take into account any expenses you’ll have when you get home.  

 

Explore more: How to create a budget

3. Arrange your travel early

Seats in economy class have different price tags. Booking early can help you get the best price, and it also helps if you can be flexible with your dates. You can often get to a lot of destinations cheaper if you’re prepared to go on Tuesday or Wednesday rather than a weekend.1

You can save money if you’re planning on exploring by train. With a Youth Interrail Pass, available to people aged 27 or under, you may be able to get a discount on a standard adult ticket.2

Shop around for your accommodation as well. Don’t just look for hotels directly on the beach, or in the heart of the city. With a bit of research, you may find a great deal just a short walk or bus ride away.

It’s also a good idea to check out the cost of a package holiday. You may be able to get your travel, accommodation and activities included in one cheap deal. 

4. If you’re going abroad, find the best way to spend your money

While having local currency gives you flexibility and can help with budgeting, it’s important to look at whether this is the best way to spend your travel money. 

Debit and credit cards are accepted in a wide range of shops all around the world. You also have the same level of security as you do back home if your card gets lost, or stolen. Keep in mind, withdrawing money on a credit card may be treated as a cash advance and may carry extra charges.

 

Explore more: Should you use a card or travel money outside the UK?

5. Buy travel insurance

It may seem an added expense, but travel insurance can cover you if something doesn’t go to plan. This could include things like:

  • your luggage getting lost
  • flights being cancelled
  • a visit to a local hospital

The type of travel insurance policy you need will depend on where you’re going and how long for. You may also need to answer questions on what you plan on doing while you’re away. If you’re looking at doing some extreme sport, or activities like surfing or snowboarding, you may need a specific travel insurance policy.

And don’t forget that you can still get some travel insurance for domestic holidays, if you think it will be worthwhile.

 

Explore more: Different types of insurance for students

What next?

Work out how much you need for your trip and how to save for it. You could also get a quote for your travel insurance so you can factor it in to your holiday costs. 

1https://www.statravel.co.uk/travel-blog/2012/11/the-secrets-out-we-reveal-the-cheapest-days-to-fly/

2https://www.interrail.eu/en/interrail-passes/choose-right-interrail-pass

   

This article provides general information and does not take into account the financial situation of the reader. For this reason, it must not be relied on as financial advice. All accounts are subject to terms and conditions.

 

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