Your holiday money - be prepared and shop around is good advice

New research from the Office of National Statistics has revealed that UK holidaymakers spent ten per cent less while overseas over the past year. The research calculated that UK travellers' spending while on breaks abroad has declined to £31bn over the past 12 months.

As UK travellers may be watching their spending on holidays abroad, businesses like the Post Office and Money Saving Expert Martin Lewis are reminding them that they can make their foreign currency go further by avoiding foreign exchange commission charges or uncompetitive foreign currency exchange rates. Both advise UK holidaymakers to research the best deals on travel money before heading to the airport to find the best deals on their foreign currency.

The higher costs of foreign currency exchange at airports and poor foreign currency exchange rates in resort hotels or foreign currency kiosks overseas recently ranked as two of the top five holiday 'rip offs' in research from the Post Office. However, many people still wait until reaching the airport before changing their travel money, where less favourable rates of foreign exchange and commission fees are typically levied by bureaux de change.

Research from the Post Office also shows that while spending is down, UK holidaymakers are set to spend £3bn on their credit cards while abroad before the end of 2010. However, the research found that some 4.8 million travel credit card users are likely to face extra charges imposed by credit card companies for using travel credit cards overseas.

Of all UK holidaymakers who plan to use their travel credit cards abroad, almost half (42 per cent) admitted to being unaware as to what it would cost them. When asked why they would be using their travel credit cards while on holiday the research found that 300,000 people claim to use their card abroad because they will have no extra money left after paying for the holiday itself. A quarter of those planning to spend on a travel credit card while abroad will do so in order to top up their spending money after they have used all their cash, and 15 per cent will use their travel credit card to spend more while they are away and then pay it off at a later date.

The Post Office reminds UK holidaymakers that using travel credit cards for spending overseas can sometimes prove expensive as many providers typically charge additional fees for both purchases and cash withdrawals when using travel credit cards abroad.

In order to avoid these charges, the Post Office is advising travellers to shop around for the best deal on their travel credit cards before they depart. Unlike many other providers who charge travel credit card fees, the Post Office offers its travel credit card holders 0% commission on overseas purchases.

Martin Lewis’ top five travel money tips are:

1. Use the right credit card: Most cards add a 3% cost to the exchange rates banks themselves get, yet a few specialist cards don't add this 'load', meaning you get perfect exchange rates beating even the best bureau. Pocket one just for spending overseas, though always repay in full to avoid interest. Take a look at prepaid cards if you don’t have a decent credit score.
2. Never change money at the airport: Airports and ferry terminals tend to give the worst rates, as you’re a captive customer. If you must get it from the airport, pre-order for pick-up to get a better rate (usually possible until four hours beforehand). Better still useLewis’ TravelMoneyMax.com comparison site to find the best possible deal including all fees and any commission.
3. Debit cards can be the worst way to spend: While specialist credit cards give good rates, most don't. And while any card which charges you interest is a bad deal, some debit cards (bank account cards) actually have the worst fees – as they add up to £1.50 every time you spend. These include Lloyds TSB, Halifax, RBS, Intelligent Finance, Santander & NatWest. Don’t spend on these abroad.
4. If they ask ‘Want to pay in Pounds or Euros?’, say ‘Euros’: If you’re paying on a credit or debit card and an overseas retailer offers to let you pay in pounds, reject it. It's called dynamic currency exchange and means the shop does the conversion, usually at a worse rate than your own card.
5. Beware how you pay for foreign exchange: While Lewis’ TravelMoneyMax.com comparison site will give you the best rates, there’s another possible hidden charge at bureau de change. All credit cards and some debit cards, including Barclays, Lloyds TSB, Natwest, Santander & RBS, charge a cash withdrawal fee. Use a different card if possible or withdraw pounds on your debit card and pay with that.

And if you are looking for low cost travel insurance, this is our latest find which might interest you with insurance from just £2 per day.

Timeshare - it's all in the timing

When it comes to timeshare ownership, time really is of the essence.

As many timeshare owners now know, getting the most from their ownership requires effort, persistance and time. Whether you are exchanging, renting or even requesting an annual floating time allocation, owners need to plan in advance and take the time to look in to all the options. Holidays are important and timeshare owners have paid considerable sums of money to enjoy quality holidays every year. Yet without committing some time to make it work, timeshare holidays are not going to provide owners with what they are looking for.

Remember, just because it is about holidays doesn't mean you don't have to work at getting it right for you.

Exchanging your timeshare

When it comes to getting the best exchange for your week, there is one simple rule to follow. You need to deposit it early. RCI recommends, for example, that whenever possible you bank your week with them two years in advance. This might mean having to pay the management fee in advance, or maybe a contribution to it, but at least you will enjoy the maximum trading power for your ownership. The longer you leave it to bank your week, the lower the trading power allocated to it and the harder it will be to get the exchanges you want.

Simply explained, if you leave it to six months before the start date of your week to deposit, you are only gettting a fraction of the trading power possible. This means that when you want to take a week out of the system, you are only offered accommodation that is of a similar trading value - which is why you may have to choose a lower standard resort or even take a smaller unit. You might even hear the dreaded phrase "sorry, it's not available". That doesn't mean that it is not in the system, it might just not be available to you because your trading power is not high enough to book it.

When it comes to making your exchange, again timing is important. Wherever possible go online for the latest information and do this well in advance. If you leave until three months before you want to holiday, you are going to have a much harder time finding what you want. Another tip is to make time to call your exchange company directly. If you can't find what you are looking for, then call them. You might need to spennd some time waiting on the phone, but nothing beats speaking with the agents directly.

So time is definitely important when it comes to getting the very best exchange. Plan in advance, know what you are going to do and bank the week/s as early as possible. This will give you the best chance to get the accommodation you want.

Renting out your timeshare

If you are not planning on using your timeshare week or are simply looking for a contribution to the management fee, then renting your timeshare out could be the best option. While there are many companies that offer this service, Holiday Letting Shop (HLS) is the only company that specialises in timeshare rental using weeks provided by timeshare owners. They do not offer a re-sale service or exchange - they just help timeshare owners rent out their weeks.

One of their best tips for successful timeshare rental is registering the week as early as possible. "By giving us your week at least nine months before the start date of the week, you will be given a fixed valuation which we will honour whatever our final rental price. This valuation is based on your resort, the week number, unit size and demand for the area. We call this valuation band A and it acknowledges and rewards timeshare owners who give us their accommodation in plenty of time for us to rent it out" explained director Sharon Jackson. For owners who cannot give HLS their week so early there is a sliding scale of rental valuations. Further details can be found here.

Yet again, time has proved to be important in ensuring the very best valuation for your timeshare when you choose to rent it out.

Floating time allocations

The rules relating to floating time allocations are different from resort to resort. But the tip remains the same. Check your constitution and make sure you are aware exactly when you can request your annual allocation, check if and when you have to pay the management fee and make sure that you are on the phone or online as soon as you possibly can. Leave it too late and all your fellow owners will have got the best weeks.

There is much more to timeshare than simply sharing your accommodation. Getting the timing right and spending time making sure you get the very best exchange, rental valuation or allocation means you will have plenty of time to lie back, relax and enjoy your purchase.

Give a holiday in Wales a go with HLS

With more Britains holidaying in the UK this year (read the news story here), there is a wealth of attractions and places to visit to keep everyone occupied, rested and happy.

If mid Wales is your destination of choice then here are a few ideas of what is available. Mid Wales has a great variety of amazing places to visit, all set in a unique landscape. National parkland, areas of outstanding natural beauty, breathtaking heritage coastline and world famous castles are all here to discover. To find out more about mid wales and the attractiions in the area go to http://www.midwalesattractions.co.uk/

Using Macdonald Plas Talgarth as your base you can explore the Snowdonia and Brecon Beacons National Parks, the Ceredigion Heritage Coast along Cardigan Bay, the Cambrian Mountains and not forgetting the lakes, small towns and villages, picturesque resorts and harbours.

CENTRE FOR ALTERNATIVE TECHNOLOGY

April - Nov:

Adult: £8.50 / £6.50

Child (5 to 15): £4

Concessions: £7.50 / £5.50

Child (under 5): free

Family ticket available

Tel: 01654 705952 / 01654 705952

Email: events@cat.org.uk

Website: www.cat.org.uk/events

KING ARTHUR'S LABYRINTH

March - November

Open daily 10am - 5pm

Last trip departs at 5pm

Admission to Labyrinth

Adult £7.50

Child £5

Senior £6.75

Tel: 01654 761584 / 01654 761584

Email: info@kingarthurslabyrinth.co.uk

Website: www.kingarthurslabyrinth.co.uk

TALYLLYN RAILWAY

Museum open (free entry) February to December

Train Service March to November & Christmas - New Year

Open 9am

Adult £12

Child £3

Family, group & concession rates available.

Tel: 01654 710472 / 01654 710472

Email: enquries@talyllyn.co.uk

Website: www.talyllyn.co.uk

PORTMEIRION

Open all year. Daily 09.30 to 17.30

Adult £8

Child £4 (under 4 free)

Family, group & concession rates available.

Tel: 01766 772 311 / 01766 772 311

Email: toll@portmeirion-village.com

Website: www.portmeirion-village.com

WALKING IN THE RHEIDOL VALLEY

A pack of 25 walks in the beautiful countryside in the area of Aberystwyth and Rheidol Valley with detailed maps, estimated times and informative guidance notes. For further information contact:

Ceredigion Tourist Information Centre

Tel: 01974 612125 / 01974 612125

FOREST WALKS IN CEREDIGION

The following Forest Walks are waymarked with a picnic site near each car park .

1. Nant Yr Arian, Ponterwyd, 1.5 or 5.5 miles moderate trails, SN718813

2. Gogerddan, Penrhyncoch, 1.5 mile moderate trail, SN 634837

3. Black Covert, Trawscoed, 1.25 mile easy and 2 mile moderate trails, 667729

4. Tyn Bedw, Llanafon, 0.75 and 2.5 mile moderate trails, SN 694 717.

5. The Arch, 2 miles E of Devil's Bridge, 0.5 mile easy, 1 mile moderate, 1.5 miles strenuous trails SN 765756

Forest Enterprise

Tel: 01970 890500 / 01970 890500

Website: http://www.forestry.gov.uk/

Holiday Letting Shop has some superb offers at Macdonald Plas Talgarth if you are looking of superb accommodation and great on-site facilities. Click here for the latest deals.

Protect your holiday - and have peace of mind

Your holidays are too important to risk so protect yourself against the financial failure of the different parts of your trip.

In light of recent tour operator and flight company failures, and in addition to your travel insurance, there is now the opportunity to protect yourself against the insolvency of suppliers such as:

* Airline

* Car hire company
* Hotel
* Other accommodation provider

* Excursion provider

* Theme Parks

While I cannot provide advice about the suitability of products for your individual needs there are specialist companies that provide cover of this nature.

Holiday Letting Shop recently announced its affiliation to one of these specialist providers. The company, Protectmyholiday.com, can arrange protection from as little as £5.

The decision to join the plan was made in view of over 65 airlines collapsing since the start of the recession and record losses continuing in 2010 highlighted by the recent collapse of Globespan. Added to this is the General Public’s confusion as to what is covered under the CAA’s ATOL scheme and use of credit cards reducing due to low cost airlines charging for their use.

Under the FSA regulations, Holiday Letting Shop will not be issuing the policy but merely highlighting that specialist cover is available from companies such as Protectmyholiday.com

Prices start at only £5 per person and policies are provided by the world-wide leaders in supplying financial failure insurances to the travel industry, International Passenger Protection Ltd (www.ipplondon.co.uk). Importantly, security is provided by A rated Insurers (Standard and Poors) with a combined net worth in €100 billion.

‘The cover protects travellers against the liquidation of un-bonded end suppliers and is a quick, simple and effective method of adding the protection missing from many retail travel insurance products. If the failure occurs prior to travel then the Insurance will refund the lost monies. If the failure occurs during the trip then the insurance covers an equivalent return ticket, which usually costs much more then the original ticket price’ stated Michael Ward, Sales ad Marketing Manger at International Passenger Protection Ltd (the parent company of Protectmyholiday.com).

On-line policy issuing takes 5 minutes, and the applicant simply selects the cover they need for their airline, car hire company, excursion providers, etc, until they have all the component end suppliers covered.

For further information please click here

HLS provides much needed rental support to owner committees

Choosing to be an elected member of a timeshare committee is not for the feint hearted. For many owners who volunteer it is the first time they have every been involved with the supply side of the travel and tourism industry - and it must be a bit of a shock. After a sharp learning curve they have to get to grips with legislation, resort management, business strategy, budgets, inventory control, timeshare sales and marketing. And they are just volunteers!

An important part of a committee's budgetary responsibility is to generate rental income from the weeks that have been repossessed or are unsold. Many committees are successful in renting these weeks out to their current members and promote them on their websites and in newsletters. However, marketing weeks through third party rental websites can be expensive and resource-heavy especially if all enquiries are being sent back to the resort to handle.

This is where the services of an agent such as the Holiday Letting Shop can help.

Holiday Letting Shop (HLS) has been developed to work with owner committees who need to rent out their timeshare weeks and need an easy, cost effective, web-based service to help them distribute this stock to a wider market place.

The team behind HLS has considerable experience in both the timeshare and tour operating industries and the rental service has been created to make it easy to add inventory and distribute it to customers.

So how can Holiday Letting Shop help?

Here are the five main reasons why you should use the services of HLS.

1. The HLS team will work with you to analyse the inventory that you have available to rent.
2. Together you will determine the best wholesale rate for your inventory.
3. HLS staff will then load your inventory on to the HLS website - this is not a DIY rental site and they do this for you.
4. HLS will ensure that their advertised rates do not undercut your management fees to maintain the integrity of your product
5. Through the search-engine optimised HLS website and our distribution channels HLS will promote your inventory across the internet and bring in new customers.

HLS is not unique but it is the only service in the UK working with committee members that is focused on rentals - they do not offer re-sales or exchange. And from their wide experience, they have distribution channels that many other rental services simply cannot offer. Therir activities have also been approved by TATOC, the Timeshare Association who are always supportive of businesses that can reduce the pressure on committees and improve the profitablity of resorts.

In these difficult times, committee members have enough challenges as resorts struggle to survive. Why not let Holiday Letting Shop look after your holiday rental programme and remove one of those challenges for you?

To find out more about Holiday Letting Shop contact Sharon Jackson at sharonj@holidaylettingshop.com or visit the site for further details at: http://www.holidaylettingshop.com/