Jetting off for your summer holiday is always exciting, but it can be spoiled with an unexpected expense which takes a chunk out of your spending money.
From 'hidden' airline fees to airport exchange rates, there's a lot that can hurt your wallet before a holiday can even get started.
With that in mind, experts have urged holidaymakers to plan ahead in order avoid any unnecessary expenses that sour the start of a trip away. The 'number one' mistake travellers make happens whilst paying in a different currency.
James Lynn, co-founder of Currensea, a travel debit card that allows people to spend directly from their existing current account when abroad, also says many people may be unaware that paying in sterling when overseas could hammer their wallet.
He says: "The number one rule is you should always opt to pay in the local currency. This is an easy trick to avoid the poor rates and high costs you face when abroad."
Lynn adds that it’s important to watch out for overseas ATM charges when withdrawing money.
Secondly, according to experts, it is best to avoid airport exchanges. Buying travel money at the airport may be convenient, but it can also be significantly more expensive.
Giving yourself plenty of time beforehand to shop around for currency could help you make significant savings. However, If you’re buying currency online, consumer group Which? recommends taking into account any delivery or handling fees.
If you haven’t booked your holiday yet, you could also make your travel money further by being flexible over your destination.
For example, Post Office Travel Money suggested that falls in the value of the Egyptian pound could make Red Sea resorts a cost-effective choice for holidaymakers this year.
And while spending abroad it may also be worth using the Government-backed MoneyHelper service, which has a budget planner tool that could help you identify how much you may be able to put away.
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