Summer holidays will be a rough ride with the pound

For those of you that are heading away in the near future for a bit of foreign sun, the latest news on the pound could do something to dampen your mood. On Monday it fell to a 10-month low as it dipped below the $1.50 mark. When you consider that at the end of 2008 we were getting more than two dollars for one pound, it is easy to see how much we are losing out on.

It is not just the dollar that is looking good against all blighty’s money, the pound seems to be skydiving from a very large height and has forgotten the parachute. Those of you heading to euro zone destinations will feel the pinch, unless you were savvy enough to book and all-inclusive break. Some of the more popular destinations of the large cities were already on a par with British prices, but this will send the cost spiraling.

If you have not booked your trip away yet, you may want to reconsider your destination choice to somewhere a little bit cheaper. There are many long-haul destinations like India and Thailand where the cost is still relatively cheap, albeit higher than what is used to be. Other alternatives that may take your fancy are booking that all-inclusive break to keep the spending down when you get there. They were once very cringe, but in recent years the service and food has gone up a lot in quality. Some good deals are abound, you just have too get out and find them.