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With October half-term school holiday on the horizon, many Britons may be looking towards taking a break from the stresses of modern life by taking a short holiday. However, Tesco Travel Insurance reports that - whatever their destination - there a number of ways that those going on holiday can avoid any unnecessary pressures on their spending and be able to make some "smart savings".

One option the financial services company reports this can be is through travel. Whilst away, the company states that public transport services, such as trams, buses and trains, not only tend to be reliable but are also low cost. It was suggested that cycling, in addition to being a cheap option, is a good way to see a destination and is kind to the environment.

However, those who choose to hire a car during their foreign vacation were advised to make sure they get a good deal. The firm stated that as costs such as insurance, hiring a child seat and fuel refills may not be included in the original quote to lease a vehicle, shopping around for a comprehensive offer was recommended. On top of this, it was claimed that car insurance should be purchased separately from the car hire firm.

For those looking for an effective way to fund going away on a break, applying for a cheap loan may be prove to be of assistance.

People wanting to make savings on their vacation were also advised to avoid leaving transfers to the last moment, shop at local groceries and supermarkets instead of tourist hotspots and consider subscribing to annual travel insurance. In addition, it was claimed that holidaymakers should avoid getting their currency exchanged at an airport as this can be one of the worst places to get money swapped.

Indeed, getting to grips with spending could prove to be of benefit as recent increases in the cost of living and the continued turmoil in the monetary markets could be placing pressure on peoples ability to manage their budget. Such areas could well include personal loans, credit cards, utility bills and mortgage repayments.

Passing comment on the report, Rachel Cutler, head of Tesco Travel Insurance, said: "Holidays don't have to be expensive, with a little planning and some clever cost cutting you can still enjoy a happy half-term together without fearing for your finances - even during the credit crunch."

Whatever the destination consumers choose to spend their time this October half-term, applying for a quick loan may be a useful way to fund going away. By getting this kind of loan, borrowers may find that they can meet the cost of transport and accommodation, in addition to other expenses such as car hire and travel insurance, quickly and affordably. This might prove to especially be of help after American Express recently claimed that 70 per cent of Britons claim to be worried about something while abroad, with just over a quarter of these stating to be anxious about rising living costs at home.

Mark Dawson writes for the Loan Arrangers. Where visitors can compare UK loans online, and apply for the cheapest secured loans and the cheapest consolidation loans available to them.