Hello and welcome to the first On The Money newsletter of 2025.
There can scarcely be a better time to think about summer holidays then in the depths of a bleak and bitter winter week when temperatures are struggling to get above freezing and roads are treacherous underfoot.
While escaping to the sun is a dream held by many of us – and rarely more so than now – there is no escaping the fact that a holiday of any kind is going to cost a few bob.
But it doesn’t have to cost the earth and there are a few simple steps that can be taken to ensure you save yourself some money on your next big trip away.
Here are just 12 of them.
1. If you haven’t signed up for a European Health Insurance Card (Ehic) yet or if you signed up more than five years ago than sort it out before you go anywhere. The card is a wonder that gives you access to medical care across the EU as if you were a citizen of the country you happen to find yourself. The card is free, although some sites that feature on search engines try to charge for the application. Only apply through ehic.ie.
2. And speaking of insurance, take out travel insurance sooner rather than later too. A huge number of issues readers of this website have when it comes to travel could have been avoided or at least lessened had they only had travel insurance. It doesn’t get cheaper closer to your holiday and the sooner you have it the better it will be, as almost half the claims made are filed before travel, with illness and death the most likely reasons for cancellations.
3. The price of flights depends on supply and demand and the more flights from different airlines there are to a particular airport, the lower the cost. The best way to get the cheapest fares is to fly to a place no one wants to go at a time no one wants to be there. We appreciate this is not solid advice for anyone looking for a lovely holiday. It is worth noting then that Malaga and Faro are likely to be the best served EU airports this summer so that is where much value can be found. Airfares also climb as the date of departure nears with the general wisdom suggesting that booking a flight six to eight weeks before departure is when the best value fares can be found – that is not the case for high demand resort spots as seats tend to sell fast. If you are chilled about where you end up, sign up for alerts with flight aggregators such as Momondo or Sky Scanner and just set the dates. When flights fall to a certain level be ready to pounce. And use fare finder tools to help you get deals. Ryanair for instance has one. Click on the “plan” link on the top right of the home page and you’ll be brought to a page containing a link to its fare finder. Set the departure city – in our case Dublin – and the maximum you have to spend on a flight and it will throw up all the matches.
4. There is no rule that says you must fly with the same airline to and from your destination and it might be cheaper to go out with one and come home with another. And if you’re flying long-haul and need a connection don’t limit your search to British airports. Paris, Amsterdam, Frankfurt and Helsinki often offer better value and are within striking distance of here too.
5. Flights on Tuesdays, Wednesdays and Thursdays are often cheaper as there are fewer business and leisure travellers on those days while packages that go from a Thursday to a Thursday often cost less than ones that go from a weekend day to a weekend day.
6. Book early morning flights on the way out and late night flights on the way home to effectively get two more holiday days.
7. Unless you have to, don’t travel during school holidays. A trip booked for May or September can cost 30 per cent less than the same one booked for high season in family-friendly locations and bear in mind children in other countries have holidays too, so don’t book when the young folk from elsewhere are off. English children have a half term starting on May 26th this year so expect a spike in prices that week. Their summer holidays don’t start until July 22nd so Irish families should really look to get away before then.
8. If you’re going to hire a car, hire it soon and use a trustworthy car hire aggregator – a simple Google search will throw up the names of some good – and bad – ones. Take care with the T&Cs, and tot up how much extras – booster seats, additional drivers and the like – will cost. And whatever you do, always Google the car hire companies you are considering to see how they rate when it comes to customer service.
9. Pack less than you think you’ll need and the old cliché about laying everything on the bed before taking only half of it works.
10. We’ve said it before and we’ll say it again, never change money at an airport: you will be ripped off and remember that airports are money making enterprises and we’re there for the taking. We’re happy, have a few bob, and are bored while we wait for our flight. So before you buy that cologne, those sunglasses, the ridiculous shorts, the gizmo or the vodka, ask yourself if you need it and if it’s good value. Bring reading material and download movies and television programmes and invest in things to keep you and yours entertained.
11. Download Google maps covering wherever you are so you don’t have to use your data or even have an internet connection when navigating. Just click on the map covering the place you are going, type “okay map” into the search bar, press download and you are good to go. Remember, Google Translate is your friend. We love how it allows you to photograph text in a different language so it can translate it. It might stop you ordering callos à la plancha in a Spanish restaurant.
12. Buy tickets for the attractions you plan to see in advance of time. It may save you money and it will definitely save you time as you won’t have to queue. It is worth looking at the online prices even if you are in a queue, they are frequently cheaper.
You can contact us at OnTheMoney@irishtimes.com with personal finance questions you would like to see us address. If you missed our most newsletter by Dominic Coyle on how if you are a PAYE worker you might be paying too much tax, you can read it here. If you missed Fiona Reddan’s piece this week on the Budget 2025 measures that kicked in at the start of January it is well worth a read as well.
