Financial Resource

Throughout the year, many of us do exactly the same thing…we start saving for our annual summer holidays. This year seems to be different, the savings account has been dipped into and the credit cards would appear to be maxed out!

With the credit crunch affecting the majority of us, finding enough spare cash to book a holiday with can prove very hard, if not impossible. I usually have my holidays booked at least 9 months prior to travel, it gives me time to get saving, book my holidays in at work and leaves plenty of time to look forward to it. At present, I am panicking because I have no holidays booked, nothing to look forward to and a bank balance which is not looking promising.

People seem to think that because we are in a recession, tour operators will be dropping the prices of all holidays because they have to, this is not the case. Tour operators pay for the hotels in Euros, therefore lose out on the terrible exchange rate as much as we do. Hotels are not dropping their prices therefore the tour operators cannot drop theirs. Flights still use the same amount of fuel, charge the same compulsory taxes and have not become cheaper to fly overnight. The pilot and crew still need paying as do the airport and ground staff….unfortunately holiday reps don’t work for free either!

When looking ahead to book a holiday for 2010, the prices look very expensive. I have searched a number of operators but cannot find anything around the price I paid last year, or even close to my budget. I think that tour operators are keeping their prices high in the hope that things will turn around and people will start booking. I cannot see the end to the current recession in the foreseeable future, therefore will not be able to consider booking my next summer holiday anytime soon. When looking at late holiday deals for this year, the prices are fantastic! There are so many great late deals available, whether that’s because the tour operators have so much stock left and are trying to get rid of it, or whether that’s just the norm for this time of year…I’m not quite sure but I’m very impressed with some of the prices.

After pricing up late deals holidays for this year and comparing them to the same time of year next year, it got me thinking! My plan is to choose the destination I want to go to, check which dates the flights are leaving, book my holidays in at work (leaving a few days flexibility either side) then wait up until 3-4 weeks before I plan to travel, and start checking the prices. The best way to find late holiday deals is by waiting and waiting. Search the net and phone through to call centres, as soon as you see the price that you’re happy with, book it! You must be realistic, however, you don’t need to settle for anything less than what you’re looking for.

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