Financing your winter holiday

Everyone looks forward to their annual skiing holiday as it is a break from the norm and allows the person to relax and rejuvenate in order to tackle all the mundane tasks on their return. The biggest mistake that many of these people make is not fully preparing nor researching properly. This can encompass a whole range of different issues but the most common cause for concern is the financial planning aspect. The most common error that people make in regard to their holiday finances is exchanging all their money prior to setting off, this is a costly mistake.

Credit cards

More often than not the destination, whether it be the Alps of France, Switzerland or Germany, will offer a much more favourable rate of exchange than a person’s home country. Another thing worth noting is that the further you travel away from an international airport the better the exchange rate will be, the exception being bang in the middle of the ski resort where the relative lack of choice results in higher commission fees. A credit card is always a good thing to be armed with when on holiday, they can be used to buy those little après ski luxuries we all love but also, perhaps more importantly, can be used as a method of payment in an emergency, it may be prudent to find a provider who gives a competitive rate on all overseas transactions.

Keep your money and cards safe

It is also very important to keep your money and cards safe whilst traveling and unless your ski chalet has a high quality safe it is probably a good idea to leave your valuables in the care of the resort reception team, be sure to obtain an itemised receipt. Financing a dream skiing holiday is also something that needs careful planning and preparation, it is never worth spending more than you can really afford, Switzerland is inevitably a little more expensive than other Alpine destinations so it may be worth speaking to an Independent Financial Advisor if you are looking to acquire a short term loan.

Holiday trip budget

Budgeting on holiday is something that we all plan but very rarely follow, be realistic with your budget and allow yourself enough money for meals, drinks, entertainment, ski lift passes and ski and boot hire based on the country you are visiting. Last but certainly not least is the very real need for fully comprehensive travel insurance with additional cover for winter sports, many people have ignored this relatively minor outlay only to have an accident on piste and be faced with a very substantial bill for medical expenses. Don’t let poor preparation ruin your dream winter holiday!