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Series 3 Episode 8: Recession proof your finances
Broadcast: Wed 5th November 2008

  • recession1

    Recession-proof your cash

    Repossessions, redundancies, pay cuts & freezes: protect yourself now!

  • MoneySaving News

    In the news this week

    Premium Bonds slashed, free £25 eyeshadow, £19 hotel rooms, 40% cheaper calls to mobiles & knickers coming down (in price!)

  • celeb_wallet

    Raef Bjayou

    Will the star of The Apprentice be hired or fired after taking Martin's Cash Quiz?

  • recession2

    Do a debt audit

    Everyone should sort out their debts BEFORE recession hits so they’re prepared for the storm.

  • car

    Beat the insurers

    Find out how a lady from Slough saved hundreds of pounds by switching her insurance providers

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Escape on the cheap

Wed 15th October 2008

If you need a short break to escape the economic gloom, you don’t need to pay sky-high prices. The internet is a powerhouse for bagging dirt-cheap hotel deals and bargain-basement flights.

Quickly find the best hotel price

Never think hotel or B&B prices are fixed. They’re often sold in different places at vastly different prices. So use a price comparison site such as Travelsupermarket, Hotelcomparisons or TripAdviser which, in seconds, lists a range of prices for the same room to get you the best deal.

Plus in these hard times, hostels can offer massive savings over hotels. Don’t automatically think they’re grotty, though. Many are clean and friendly, and offer single, twin and double rooms.

External Link: Find the best comparison websites and more booking tips in Martin’s Cheap Hotels guide  

Cheap UK rooms

Use comparison services here too, but don’t miss out on regular promotions from £1 to £20 at the likes of Travelodge or The Hoxton hotel, though you’ll need to book early. Those with Tesco Clubcard points can get hotels at 75% off by booking through its Clubcard Deals brochure.

Use detective skills for mega-bargains

There are two ways to cut your costs even further when booking hotels.

  • Websites Lastminute.com and Hotwire.com offer super-discounted 'top secret' rooms, where it won't reveal the hotel name until you've booked it. Yet copy and paste the description into Google and you should be able to find the hotel it’s describing.

  • Hotel bidding site Priceline.com allows you to select a price e.g. £40 a night for a 5* hotel in New York, but you must put your card details in first, as if it's accepted the money is taken from your card.  If it's rejected you can’t bid again for another day.  Yet there’s a legit loophole allowing you to get multiple bids, and using this you can finesse the lowest possible price.

External Link:  For a step-by-step guide, read Martin’s full priceline loophole guide or the Cheap Hotels guide for the top secret room bidding hints.

Speedy flight finding

Price comparison sites can speedily find the cheapest flights. Plus you may be able to get discounts booking flights & hotels together with flight brokers. Plus if you don’t care when you go, the Flightchecker finds all sub-£10 flights over a large date range.

External Link: Full details on screenscrapers and flightcheckers are in Martin’s Cheap Flights guide.

Book everything in safety

These days travel company solvency isn’t guaranteed. Yet book on a credit card and for single items (e.g. a hotel stay or flight) over £100 the card issuer is equally liable with the retailer, so if things go wrong you can get your money back from it.

Yet always pay the card off in full so you don’t pay interest. However, if you book a package holiday – best for 7, 10 or 14 days away at a traditional resort – and the tour operator has the ATOL guarantee, you’re protected without a credit card.

External Link: For a full Q&A guide read Martin’s Section 75 guide for more information.