Planning a holiday? You could get more for your money this summer
The value of Sterling is on the rise: great news for those of us planning a holiday abroad this year because it means our holiday spending money will go further!
According to the annual Post Office Travel Money survey, which compared rates in February 2014 with those in February 2013, Sterling has risen against all of the top 40 holiday currencies in the last year. This means your pound will go further when you're abroad, most noticeably in countries such as Turkey, Brazil and Australia.
Those heading to Turkey, which is ever popular with UK tourists looking for some great value sun and relaxation, will see their pound buying 3.47 Lira, compared to last year when it would have got them just 2.6 Lira.
If you're planning on going further afield, perhaps to Brazil for the World Cup or Australia to visit family and friends could find their holiday purchases are 33% and 25% cheaper respectively than they would have been last year.
The only disappointing news is that Sterling's rise against the Euro has been much more modest with a pound now buying 1.17 euro compared to 1.1 euro last year - but it all helps when you are managing a holiday budget!
The reduction in cost in the Turkish Lira compared to the Euro could see Turkey challenging Spain as one of the most popular holiday destinations for Brits this year.
Where ever you plan to go on holiday this year travel insurance is a must as it protects you against the risk of incurring large medical bills if you require emergency medical treatment whilst you are away. It also provides cover for you to be flown home by air ambulance (if medically necessary) so you won't get stranded in a foreign hospital.