Britons are unclear about the value of foreign currencies, it has been pointed out.
Many people may be good at thinking ahead when purchasing their
travel insurance, but it is a different story when it comes to currency.
This is according to Stephen Heath, chief executive at FairFX.com, an online foreign exchange firm.
Mr Heath said people in the UK tend to be confused when they look at currencies from beyond the eurozone.
He explained many British holidaymakers have taken to exploring countries such as Turkey since the pound has performed poorly against the euro, but they have "less knowledge" about them and the value they hold.
Furthermore, Britons put off purchasing their foreign money, which can often be to their detriment.
"Holidaymakers typically leave their travel currency to the very last minute and the closer you leave it to the last minute, the worst deal you get," he commented.
People should look online for better deals and advised them to opt for a cheap alternative to cash, such as a pre-paid card.
According to Thomas Cook, 28 per cent of vacationers do little or no research into how much their day-to-day costs will amount to before going on holiday.
Cheap holiday insurance from Direct Travel Insurance could be one way to keep total holiday expenditure down.
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