Martin Lewis’s MSE reveals genius holiday hack | European Markets

Martin Lewis’s Cash Saving Skilled (MSE) shared a reserving tip that might save people a whole bunch of kilos on holidays.

In its latest weekly publication, the group defined the “rebook and cancel trick”, which saved a reader more than £300 on their travels to Australia.

The tip is aimed toward people who’ve already booked a vacation, who might be able to bag the identical deal cheaper by cancelling and re-booking nearer to the time.

The group wrote: “In the run-up to the summer holidays, we’ll be telling you – if you’ve got free or cheap cancellation on car hire or hotels, check to see if you can get what you’ve booked cheaper.

“If so, rebook it, then cancel your original. We’re always swamped with successes.”

Following the tip, the group shared “Steve’s” story, which concerned him rebooking and cancelling a keep at a resort in Melbourne.

He tweeted the group: “It was quite expensive because the Formula One Australian Grand Prix was scheduled for that week. When it was moved to the week before, prices dropped, and we rebooked, saving over £300.”

However, people should read their booking terms before doing this because some companies impose cancellation fees, and you don’t want to be caught off-guard.

MSE noted that hotels are not likely to offer free cancellation if customers are asked to pay upfront, though this depends on the booking site used. People can also contact the hotel directly to check the terms if the rules are unclear.

While this is one way to potentially reduce the price of your summer holiday, there are several other tactics people can use to cut costs further.

Greg Wilson, CEO and travel insurance expert at Quotezone.co.uk suggested planning the trip “as soon as possible”.

Reserving within the low season may additionally help make essential financial savings, and planning flights at much less standard instances on weekdays also can help pinch the pennies.

Mr Wilson additionally shared a few tips about protecting currency conversion prices low. He stated, “When taking out cash at an ATM machine abroad, always select the option to withdraw in the local currency, or else you could be charged for a higher exchange rate.

“The same goes for spending money – if given the chance, choose to spend money in the local currency on card machines. Also be on the lookout for tampered machines and if possible, use ATMs at local bank branches for extra security.”

In a survey performed by Quotezone, 35% of respondents stated they typically have over £50 left over from their vacation currency.

Mr Wilson stated: “Rather than leaving the cash in a drawer or bag to be forgotten about, change it back into pounds and make the most of it. Alternatively, pack it away with your passport to be re-used for your next trip.”

Lastly, Mr Wilson warned in opposition to changing currency on the airport. He defined: “There are often hefty service fees added on top.”