Hot Tips for Saving Money on Summer Vacation (Re-run)

On a recent episode of Merryn Talks Money, hosts Merryn Somerset Webb and John Stepek re-ran a practical guide from last summer on how to avoid the most common—and costly—money mistakes when traveling. The conversation is grounded in the psychology of convenience and last-minute panic, showing how a little advance planning can save a surprising amount. The hosts walk through a list of errors compiled by the investment platform AJ Bell, using their own recent travel mishaps as cautionary tales.

The Airport Currency Trap

The first and most relatable mistake is buying foreign currency at the airport without planning ahead. Merryn admits she made this error just before a trip to Mexico, heading to the bureau de change at the airport in a rush. The problem is the spread. The hosts cite an example from the AJ Bell report: on a given day, exchanging £1,000 at a Heathrow TravelX kiosk would have yielded only €944. Ordering the same amount online for pickup at the same location would have gotten you €1,133—an extra €189 for the same money. John Stepek frames this not as predatory pricing but as a "convenience fee" for being disorganized. The airport desks pay high rent, and the customer pays the price. The simple fix is to order currency online in advance, or, as John jokes, bring a sandwich and a bottle of water from home to avoid overpaying for airport food and drink as well.