How I Save Money on Flights, Hotels & Travel Money

The Internet has given us enormous choice when booking flights or hotels for our trips. It is also one of the most dynamic industries so it can be tough to stay updated on what is considered good value for money.

Visiting 18 countries to date has given me valuable experience and I have devised my own strategy of making sure I'm getting the best possible deals. I want to share this information with you.

FLIGHTS

(Wix stock photo)

For some people, the destination and dates have already been decided. For others, both are pretty flexible and the price will play a big factor in the final decision.

When I make an enquiry into flights, I use a combination of Google Flights, Skyscanner, Momondo and Kayak to see approximate prices and the airlines that offer this destination.

Some of these may offer historical or predicted prices showing when a flight might be cheapest. You can even set customised alerts to notify you when a flight drops in price.

I typically take the following steps:

Look at departing and return dates to get an idea of the price range. Consider whether you are open to a stopover or whether a direct flight is essential.

For stopovers, you are exchanging your time for money saved. You will also get the chance to experience a new airport (if that's your thing), though quality varies greatly.

If you have multiple airports available to you, you may have more options but include the cost of travelling to/from each airport. Cheaper flights at an airport that takes you 3 hours to get to may not turn out to be value for money.

Shortlist at least 2-3 that you want to look into further. Conduct a thorough search across a wider range of reputable sites.

Write down the main details like airline, total price, departing/return date and time, plane type (if that matters to you). Check out packages as well if you are open to booking a flight and hotel together.

If you have a travel agent that you have used in the past, contact them directly to see what offers they can give you.

It's always worth negotiating, nothing to lose if that's their final offer. One time, my agent even had seating and free cancellation included at a similar price to the non-refundable tickets I found online.

Read specific terms and conditions carefully on the tickets you are booking as tickets can vary a lot. Pay attention to what is included/not included and the fees in event of flight cancellation/change. Typically the cheapest tickets are non-refundable unless it is the fault of the airline.

Note the final ticket price as some tickets may include pre-booked seating and checked-in baggage as standard whereas on others, you may have to pay extra. Use websites like SeatGuru to plan your preferred seats.

Also pay attention to baggage allowance and pieces of baggage, I have found these to vary across tickets. Don't wait until you are at the airport, it is likely to be more expensive than reserving it online in advance.

Check all of the details from the agent website against the airline's website. Note the differences.

For example if anything major is excluded, e.g. the airline's price allows for cancellation/change within a certain period. But the price is £300 versus the agent's price of £290 with no cancellation/ change, then it might be worth the extra £10, especially in today's world where unexpected events are common. Do what is right for you.

TIP: Lots of people will say you should book early for the cheapest prices. While that's true in many cases especially for peak travel season, I have booked relatively last minute flights (under 1 month from departure) at what I considered fairly affordable prices.

These were for off-peak season though and I was travelling solo and I was very flexible on dates. Only consider it an option if you are flexible with dates, don't risk prices shooting up.

HOTELS

(Wix stock photo)

There are many choices when it comes to booking hotels at your destination. My first go-to searches are via the main platforms such as Booking.com, Hotels.com, Trip.com, TripAdvisor.

They are excellent for the huge bank of reviews from previous customers as well as information on the hotel location, room types, facilities, rates. This makes it easy to compare pros and cons all in one place.

Most of these offer free cancellation up to a few days before arrival, this gives me peace of mind in case anything happens. Some hotels also offer non-refundable bookings which are normally cheaper than their refundable option.

On the odd occasion, booking a hotel direct was cheapest for me because they were doing a special offer that was not available on the comparison platforms. However this was non-refundable so only explore this option if you are absolutely sure of your trip.

TIP: The platforms sometimes offer "hidden" or "secret" discounts if you are a member as opposed to a guest visitor. You just need to register for an account.

Also don't forget to look out for voucher codes. This could be one where it is worth signing up to the platform's mailing list to be notified of limited time discounts.

ACTIVITIES AND TOURS

I tend to use Viator, Ebookers and Klook as a first port of call to compare prices for attractions, sightseeing tours, sports activities, museum tickets and so on.

These tend to be better value than the official websites but do double check and read the details to make sure you are getting exactly the same thing.

TRAVEL MONEY

(Wix stock photo)

In my earlier days of travelling, I grew accustomed to exchanging foreign exchange currency at my local bank before departing for the trip.

I was totally unaware that foreign exchange fees and rates differed at every provider. I just accepted that it was a compulsory travel cost that couldn't be avoided or reduced.

I eventually came to my senses and decided that comparing online currency providers would offer a much better rate. Later on, I became aware of a credit card offered by a bank, specifically for travel.

Benefits included a 0% foreign exchange fee, rates based on a very favourable rate and an interest free period for purchase transactions. My first tip here is to never use your everyday debit or credit cards for spending abroad as these will most likely punish you with unfavourable fees and rates.

For cash withdrawals, it did charge interest starting from the first day but I only needed to do this once because I didn't bring enough cash.

I have taken it on trips ever since and it has been provided great convenience and savings to me. The crucial thing is to pay in full before the end of the interest period or interest will build quickly.

Remember to ALWAYS pick the local currency of your destination (i.e. YUAN in China, YEN in Japan etc) and this puts on the onus on your own bank to do the conversion.

If you choose the destination currency, it will be up to the seller's bank/intermediary to do the exchange and this is likely to end up much more expensive than the former.

For example, I made a mistake once without thinking properly and ended up paying £1,060 for hotel accommodation instead of £1,020. That hit me for a day because I knew almost immediately but on the positive side, I made it back a few weeks later somewhere else.

Sometimes you might have an expensive life lesson but it could be worth it over the long run because you will remember not to repeat the same mistake.

Obviously not everywhere accepts cash, so in most countries, you might still need to carry cash with you.

These days, travel debit cards are also available typically with no fees and favourable exchange rates for cash withdrawals. These are also suitable for those who do not want credit cards or are less careful with money.

With this, you won't have to worry about missing payments and accumulating interest as you are using your own money. You will need to open an account with the bank and transfer money from your main bank account. Choose what suits you best.

More recently, I started using Wise after moving to Hong Kong. I already had a bank account so it was the most cost effective way of exchanging currency.

In my most recent transaction, Wise offered by far the most favourable rates for my target currency. Sign up using my invite link and Wise will give you a free transfer of up to £250 (or similar in your local currency) for new users.

TRAVEL INSURANCE

I nearly always get travel insurance, except for domestic travel. You can never predict what might happen whether you have your flight cancelled, get injured, a family emergency or having your luggage go missing.

Check out my method of using comparison sites here.

I would also consider gadget insurance if you have expensive electronics as travel insurance often have a fairly low upper limit that they will pay out in the event of lost or stolen item.

COMPENSATION

It is always pursuing compensation with the service provider if things go wrong.

I have personally claimed for delays resulting from:

early termination of my hotel stay due to repurposing for COVID-19;
the 2010 Icelandic volcano eruptions when I was stranded for 2 weeks;
train delays on my daily commute and cross country trips;
delayed luggage

If the service provider rejects compensation, your next port of call would be via your travel insurance or if you don't have it, your country's ombudsman service.

*The information on this page is my own opinion, not financial advice. It is for general informational purposes only and is not intended to provide specific advice or recommendations for any individual. It is purely intended to provide education about personal finance.

From reading this website we cannot assess anything about your personal circumstances, your finances, or your goals and objectives, all of which are unique to you, so any information contained on this website are just that – an opinion or information. We highly recommend you seek professional advice from someone who is authorised to provide financial advice.

Disclaimer: This section contain invite links, which means I may earn a commission if you choose to make a purchase through my link (you may get a discount as specified, this is solely subject to that third party's decision). Thank you for your support.