Over the last year the UK Pound has lost a lot of ground against the Euro almost reaching parity at one point with budgets already tighter than before many families traveling to Europe will have to look at ways to save some money. There is no need to reconcile yourself to having a holiday in England or otherwise changing your vacation plans.
Converting Pounds to Euros for your Spanish holiday.
Whilst you can nowadays travel without any foreign currency in your pocket if you want to save some money it is best to plan ahead and do some research into the best exchange rates and lowest commission charges you can obtain for your money. Related to this is the idea of being able to use that ever so convenient piece of plastic that you carry around in your wallet or purse and make the necessary withdrawals at the various friendly banks you will come across on you travels. If possible it is best not to use either debit or credit cards which can charge high transaction fees for withdrawals abroad – over 3% is not uncommon at this time, with a choice between debit and credit cards though debit cards are usually a little lower and sometimes there can be a flat fee of just £1.50.
Fortunately there are many online services which make changing money easier as well as making the research as to who has the best deals out there – for instance Travelex claim they will not be beaten on their website. If you are not comfortable using the internet for making these payments then you can find a wide variety of sources of foreign currency along the high street including the ever popular Post Office. Given that there are so many types of credit card and online services and their rates and terms will be changing on a regular basis it is really up to the individual to check for themselves but from our research we would suggest at least speaking with Thomas Cook and Travelex. We are not suggesting changing your currency now as one of the final considerations must be the exchange rate itself which at the moment is edging slightly in the favour of people changing from Sterling (Pounds) to Euros. If this continues you could gain more euros (possibly 10% more) if sterling manages to achieve 1.20 Euros to the Pound over the next months which lead up to the holiday period, which a number of experts think it may manage. It is in the end your decision when it is best to convert the money.
Reducing the amount you exchange is another way to reduce how much money you give away. That may seem difficult at first glance but you can relatively easily reduce the amount you will pay commission on and lose money on the exchange rates.
For most people going abroad one of the most expensive elements is their accommodation. If you are opting for a package holiday then that will already be taken care of but if you are not tempted by this idea then local Spanish hotels will most likely be expecting to receive their money in Euros. Therefore you can benefit by trying to find suitable accommodation where the owner would be happy for you to pay in UK Pounds. The most likely situation where you will be able to come to such arrangement is where you find a Spanish rental villa or an apartment for rent in Spain and the owner is English. In addition with many people waiting later to book their Spanish holiday many owners of Spanish rental villas are no doubt more negotiable than usual.