10 Cost-saving Tips Every Traveller Will Need For Their Year End Holiday
According to Booking.com's latest research on the travel trends of 2023, budget-savvy travelling is among the top trends, with 68% of travellers paying close attention to how much they plan to spend and when they actually spend during their trips. Despite the ongoing economic and energy crises, 50% of the respondents still believe that investing in a vacation is a top priority.
So it is all about striking a balance between saving and spending while you’re planning for your holidays. Here are a couple of tips on how to save on your year-end vacation while enjoying it.
10 Cost-saving Tips When Travelling During The Holiday Period
Renowned travel portals like Agoda, Booking.com, and Expedia are convenient and great options to compare prices for all your travel needs. Many portals offer package deals, bundling flights and hotels, which can result in cost savings.
On the other hand, booking directly with airlines, hotels, and rental car companies eliminates middleman fees and commissions associated with travel portals. Booking directly with airlines can also allow you to accrue frequent flyer miles and loyalty points.
When you book directly with airlines, hotels and rental car companies or via some online platforms, they usually provide best-price guarantees in their seasonal offers. These guarantees ensure that you secure the lowest available rate for your accommodation, flight, or service.
An example is Google Flights, which can help you keep track of any price drops by sending you up-to-date email notifications with price guarantees (depending on your selected country and currency in the Google Flights app.
Cheaper flight tickets, accommodation bookings and even attraction tickets are definitely one of the best parts of travelling during off-peak seasons. Besides, you'll get to immerse yourself better in the local culture without having to tolerate the tourist crowds. So, try going to a popular destination that is well known for its winter activities in the summer or autumn, visit a place that is known for its summer activities during their winter season instead, or head to the tropics during the rainy season, and you’ll be surprised with what you’ll find.
With the year-end holidays nearing, the probability of terrorism threats may increase, and the likelihood of natural disasters occuring may be higher due to the impending winter storms in regions like North America and East Asia.
You’ll need to be prepared for such situations with travel insurance. You can either buy your travel insurance directly from your preferred travel insurer’s website or tap on travel insurance comparison platforms like MoneySmart’s travel insurance comparison tool which offer promo codes that help you save on your premiums.
Using a mix of credit cards during your trip can help you get air miles, cashback, free flights, hotel stays, dining rewards, or other benefits. If you can’t decide between cashback or miles, the DBS Vantage VISA Infinite Card allows you to switch your rewards flexibly between up to 2.2 miles per S$1 spent or 2.2% cashback.
As for generous welcome air miles, the UOB PRVI VISA Miles Card offers 50,000 air miles upon sign-up, the most generous in our list to date. Find out on MoneySmart's Best Credit Card for Overseas Spending and compare different credit cards and their perks while you decide on the most cost-effective ones for your trip.
Best Travel Insurance For Your Year-end Holiday
Starr TraveLead Comprehensive Silver
- Med. Coverage (Overseas)
- S$500,000
- Trip Cancellation
- S$10,000
- Loss/Damage of Baggage
- S$5,000
- Total PremiumTotal Premium
S$48.3650% Off - S$24.18
[Win a Rolex, Dream Vacation & More! | MoneySmart Exclusive]
• Enjoy 50% off your policy premium and 2,400 My Millennium Points (worth S$16) with every policy purchased.
• Additionally, receive up to S$45 via PayNow OR 1 x Apple AirTag (worth S$45.40) with eligible premiums spent. T&Cs apply.
BONUS: For a limited time only, stand a chance to score over S$10,000 worth of prizes in our Grand Draw.
• Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
• All Expenses Paid Trip
• 2D1N Staycation at any Millennium Hotels and Resorts and 15,000 My Millennium Points (worth up to S$550)
Increase your chances of winning when you refer friends today.
T&Cs apply.
Allianz Travel Silver
- Med. Coverage (Overseas)
- S$500,000
- Trip Cancellation
- S$5,000
- Loss/Damage of Baggage
- S$3,000
- Total PremiumTotal Premium
S$4655% Off - S$20.70
[Receive your cash as fast as 30 days*]
• Enjoy an exclusive 55% off your policy premium and 2,400 My Millennium Points (worth S$16) with every policy purchased.
• Additionally, receive up to S$35 via PayNow with eligible premiums spent. T&Cs apply.
MSIG TravelEasy Standard
- Med. Coverage (Overseas)
- S$250,000
- Trip Cancellation
- S$5,000
- Loss/Damage of Baggage
- S$3,000
- Total PremiumTotal Premium
S$3855% Off - S$17.10
[Win a Rolex, Dream Vacation & More! | MoneySmart Exclusive]
3 DAYS FLASH SALE: Enjoy 55% off your Single Trip policy premium when you apply promo code TRAVEL55. Valid till 28 Apr 2024.
• Enjoy 20% off your Annual Plan policy premiums (no promo code required). Valid till 6 May 2024.
• Get 2,400 My Millennium Points (worth S$16) with every policy purchased.
• Additionally, receive up to S$45 via PayNow OR 1 x Apple AirTag (worth S$45.40) with eligible premiums spent. T&Cs apply.
BONUS: For a limited time only, stand a chance to score over S$10,000 worth of prizes in our Grand Draw.
• Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
• All Expenses Paid Trip
• 2D1N Staycation at any Millennium Hotels and Resorts and 15,000 My Millennium Points (worth up to S$550)
Increase your chances of winning when you refer friends today.
T&Cs apply.
FWD Business
- Med. Coverage (Overseas)
- S$500,000
- Trip Cancellation
- S$10,000
- Loss/Damage of Baggage
- S$5,000
- Total PremiumTotal Premium
S$29.0725% Off - S$21.80
[Win a Rolex, Dream Vacation & More! | MoneySmart Exclusive]
• Enjoy 25% off your policy premium and 2,400 My Millennium Points (worth S$16) with every policy purchased. T&Cs apply.
BONUS: For a limited time only, stand a chance to score over S$10,000 worth of prizes in our Grand Draw.
• Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
• All Expenses Paid Trip
• 2D1N Staycation at any Millennium Hotels and Resorts and 15,000 My Millennium Points (worth up to S$550)
Increase your chances of winning when you refer friends today.
T&Cs apply.
.png)
Tiq Savvy
- Med. Coverage (Overseas)
- S$500,000
- Travel Cancelation
- S$5,000
- Loss/Damage of Baggage
- S$2,000
- Total PremiumTotal Premium
S$3440% Off - S$20.40
[MoneySmart Exclusive]
• Enjoy 40% off your Single Trip policy premium and 60% off Covid-19 add-on for Annual Plans. T&Cs apply
• Additionally, receive 2,400 My Millennium Points (worth S$16) with every policy purchased. T&Cs apply.
[Etiqa's 10th Year 2024 Grand Draw]
Stand a chance to win S$10,000 cash or a Singapore Mint Lunar Dragon 1 gram 999.9 fine gold medallion (worth S$173) with eligible Etiqa/Tiq by Etiqa plans purchased. T&Cs apply.
.png)
- Med. Coverage (Overseas)
- S$250,000
- Trip Cancellation
- S$5,000
- Loss/Damage of Baggage
- S$3,000
- Total Premium
- final-price
Best Travel Insurance Benefits Coverage For Holiday In Southeast Asia
| Best Travel Insurance For | Travel insurance plan | Estimated premium rate |
|---|---|---|
| Overall good value | Bubblegum travel insurance plans | From $34 |
| Budget travel | FWD Premium plan | From $22 |
| Flight diversion/cancellation/postponement | Singlife Travel Plus and Prestige plans | From $51 |
| Overseas medical coverage | Allianz travel insurance plans | From $36 |
| Pre-existing conditions | MSIG TravelEasy Pre-Ex plans | From $44.50 |
| Family | DirectAsia travel insurance plans | From $30 |
| Elderly | From $27 | |
| Travelling while pregnant | MSIG TravelEasy Pre-Ex plans | From $44.50 |
| Extreme sports | Starr TraveLead Comprehensive plans | From $30 |
| COVID-19 coverage | AIG Travel Guard plans | From $38 |
| *Estimated premium rates are based on a 4D3N single trip plan to a Southeast Asian country, data last updated in October 2023. |
Best Travel Insurance Benefits Coverage For Travelling To Europe
| Best for | Travel insurance plan | Estimated premium rate |
|---|---|---|
| Overall good value | Bubblegum travel insurance plans | From $193 |
| Budget travel | FWD Premium plan | From $84 |
| Flight diversion/cancellation/postponement | Singlife Travel Plus and Prestige plans | From $173 (Singlife Travel Lite is from $119, most basic tier which excludes free cancellation benefit) |
| Pre-existing conditions | MSIG TravelEasy Pre-Ex plans | From $181 |
| Overseas medical coverage | Allianz travel insurance plans | From $180 |
| Elderly | From $230 | |
| Family | DirectAsia travel insurance plans | From $97 |
| Travelling while pregnant | MSIG TravelEasy Pre-Ex plans | From $181 |
| Extreme sports | Starr TraveLead Comprehensive plans | From $81 |
| COVID-19 coverage | AIG Travel Guard plans | From $140 |
| *Estimated premium rates are based on a 14-day single trip plan to Europe, data last updated in October 2023. |
Frequently Asked Questions
How can I get discounts or the best prices when booking my airline tickets, accommodations and other travel necessities?
Start with comparing prices on travel portals like Agoda, Booking.com, and Expedia for all your travel needs. Many portals offer package deals, bundling flights and hotels, which can result in cost savings.
If you book directly with airlines, hotels and rental car companies, look out best-price guarantees in their seasonal offers. These guarantees ensure that you secure the lowest available rate for your accommodation, flight, or service. When you find a better deal elsewhere, the provider will most likely match it or refund the price difference.
What is the fastest way to get travel insurance coverage for my year-end trip?
- The quickest way to get travel insurance is through your preferred travel insurance mobile app. Other ways include purchasing your travel insurance via an airline or travel insurance company’s website or by contacting your insurance agent. If you prefer to do it yourself via a comparison platform like MoneySmart, you’ll be able to do a quick comparison of the best rates available for you.
My trip is cancelled after I have purchased my travel insurance. Will I be able to get a refund?
- Yes and no, this depends on when you submit your trip cancellation request and the departure date of your trip. Most travel insurance companies will accept your claim if your request and the valid reason for cancellation is submitted within 30 days of your departure.