Main Image Credit “Foreign Exchange” by Images Money is licensed under CC BY 2.0
If you are lucky enough to be going on holiday in Europe you are going to be enjoying a lot of extra spending money. This is because the Euro has hit a seven-year low against the pound.
Currently you can get around 1.36 Euros for every pound you exchange. The rate fluctuates on a daily basis but for the past month, it has been fluctuating at between 1.42 and 1.35 Euros for every pound. The general opinion amongst the financial community is that this healthy exchange rate is likely to continue at a similar level for the next few months.
That means that British holidaymakers travelling to Europe are enjoying between 15 and 17% more spending money. To put it another way for every hundred pounds you have as holiday spending money you get around 15 more Euros than you did this time last year. Today, £100 buys you 136 Euros. In April 2014, £100 would have only got you 119 Euros.
Here are a few ways you could enjoy your extra Euros.
Skip the pizza
Rather than eating pizza and burgers every day, you could treat yourself to a meal in a top class restaurant. If fine dining is something you enjoy before you go take the time to have a look online at the restaurants in the area you are visiting and choose one that offers fine dining. Pack something nice to wear and turn your meal into a special evening.
A spa treatment
Treat yourself to a spa treatment. There really is no better way to relax and in many European countries, you can enjoy a spa or beauty treatment for less than 25 Euros. It is a great way to relax and go home looking a million dollars.
A nightly cocktail
Rather than sticking to your usual beer, wine or spirit mixer consider starting your evening with a cocktail. You never know you may well discover a new favourite while working your way through the cocktail menu.
Leave more tips
It is always nice to tip when you get good service, and now you can afford to be more generous. Your waiter, taxi driver, cleaner or bell boy will really appreciate it.
In many European countries, unemployment is high, which means that many of those who have jobs are supporting other family members. There is very little state support for the unemployed in places like Spain, Greece, Italy and Portugal.
If you and a couple of other holiday makers give staff members a Euro tip every day it makes a huge difference to them and their family. It feels good to make a difference and does not cost much to show your appreciation with a tip.
Book something extra
Of course, you could always to change fewer pounds into Euros and spend those pounds on something extra. For example, you could buy yourself a new outfit, upgrade your hotel room, book yourself into the executive lounge at the airport or book valet parking instead of basic parking. All of these will help you to start your holiday off in a better frame of mind and feeling more relaxed.