It may be the right time to travel!
The latest expert forecasts seem to confirm that the UK economy is on the up and up. Consultancy firm PwC says Britain will have the second largest economy in Europe by 2020, overtaking France, with Germany firmly rooted in top spot. The strength of the pound and the drop in unemployment are two reasons for such optimism, although it is also claimed that Britain still faces problems with income inequality and lags behind other European countries in investment, trade deficit and education.
This latest survey is further evidence that the UK has left the recession behind, but for many people it still doesn’t’ feel like that, and consumers are as keen as ever to seek out good money saving advice and find ways to make their hard-earned pay go further. You only have to look at the increasing profits of the discount supermarkets, such as Lidl and Aldi – and the drop in profits for the likes of Tesco and Sainsbury – to see that people are still demanding more bang for their buck.
Talking of money saving advice, the good news is that with the pound at a six year high against the Euro and the US Dollar, this is the perfect time to take a holiday abroad again. In recent years, a lot of people have been holidaying at home – or not at all – with money so tight, as well as a relatively weak pound, but this could be time to head for foreign shores to enjoy a break. Before going abroad, it’s worth bearing in mind a few simple tips that will help you save on changing money, so you make sure you get the most for your pound.
• Don’t buy your Euros, dollars or other foreign currency at the airport because, as with everything else there, you'll pay more.
• Plan ahead at least a week or so before you depart and shop around for the best rates you can find.
• Online rates tend to be the most competitive and with some firms, you can order your money online and arrange to collect it from a desk at the airport the day you leave.
• Look for the best online rates by using comparison tools.
• Once you are on holiday, if you need to change more pounds, be sure and shop around as well. In some countries the exchange rate can vary enormously, depending on where you make the transaction.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk