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With the recent spells of sleet, rain and snow we’ve seen recently, the summer still feels a long time away. But there’s only two and a half months until the kids are off for their summer break so it’s definitely time to think about where you’re going to go on holiday.

Some of the most popular resorts have cut their prices this year to get more of us to fly out, including top destinations in Greece, Spain and Portugal. So where could you go to save? Let’s take a look at which holiday destinations are cheaper for 2016.

Costa del Sol or Corfu?

If you’re looking to save on your break this summer, Sunny Beach in Bulgaria could be one of your best bets. This is according to the Post Office Travel Money Holiday Costs Barometer, which tracks the cost of some of Europe’s most popular holiday destinations.

The Bulgarian hotspot has actually got more expensive since 2015 – it now costs 9.3 per cent for a holiday there. Despite this, you could still pay under £22 for a three-course evening meal with wine in the region.

The biggest price fall was for Limassol in Cyprus, which is now 7.1 per cent cheaper than it was last year. This means it’s now the third cheapest city to go to on holiday in Europe. Costa Blanca in Spain has also seen a fall in prices – it’s down 5.8 per cent on 2015’s figures.

The Algarve in Portugal is another bargain city break as it’s only 5 per cent more expensive than last year. However, prices in the region have steadily fallen in recent years so if you last visited in 2011, you’ll find it’s now 28 per cent cheaper to eat out and buy drinks.

Saving money abroad

Picking a cheap destination isn’t the only way you could save money on holiday – here’s a few of our other top tips.

• Set a budget: it’s easier to save if you set yourself a clear budget for everything you need to buy – whether that’s your holiday wardrobe or meals out. When you go out to eat, you could even just take a set amount of cash with you so you don’t go over budget.

• Get covered early: if you only remember to buy your travel insurance a few days before you go on holiday, you could be at risk. This is because if you broke your leg a couple of weeks before you were due to fly out and you couldn’t go on holiday, you wouldn’t have any cover.

• Save on currency: make sure you buy your euros or dollars before you go away – you’ll get a worse deal in the airport or when you’re on holiday. You could lock in a cheap exchange rate by putting your travel money on a prepaid travel card, such as the thinkmoney Prepaid Travel Card for thinkmoney customers.

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