The average European family holiday will cost £518 more than last year, thanks to the effects of the Brexit vote.
Whilst a family holiday abroad to Europe cost £2,333 in 2016, this is expected to rise to £2,851 this summer, says foreign exchange provider Travelex. It's because of the dramatic fall in the pound against the Euro following the EU referendum.
Holiday costs jump as Brexit vote hits travellers' pockets
The hike in costs will be a massive blow for holiday makers - but it is possible to claw back this cash by planning in advance and making a few cutbacks, says finance guru and TV journalist Jasmine Birtles.
"At a very basic level, families should start thinking about their next summer holiday as far in advance as possible, then start making a check-list of what needs to be organised, starting with transport, insurance and travel money," she says.
"This, in conjunction with the cut-backs on holiday essentials that Travelex has suggested should make it much easier for families to make savings when planning for their holiday. It will enable them to enjoy their summer break away without feeling the pinch!"
So what are the top tips for cutting your holiday cost?
Booking a few months in advance can make a big difference, particularly if you plan to travel in the school holidays. Ideally, you should book at least 56 days in advance in order to get the best deals on flights.
Do you have to fly?
It's the obvious way to travel overseas, but isn't the only one. Check out alternatives through a comparison site like GoEuro, which compares flights against the cost of driving, taking a train or getting a bus across Europe.
Get an EHIC card
We're still in the EU, which means that your basic healthcare costs are covered - as long as you have an EHIC card, which is free. So make sure yours is up to date; but remember it doesn't cover everything and you will still need insurance to pay some bills.
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Shop around for travel insurance
Make the most of comparison sites to find the cheapest option available to you. If you go abroad more than twice a year, an annual policy may be cheaper than taking out multiple policies, and means you don't have to think about taking out a new one later in the year. But make sure you're covered for all eventualities, including 'dangerous sports.
Change money at the best time
Never leave collecting your travel money until the last minute - and keep an eye on the way the pound is going. If you think a government decision is likely to drive the value down, order your holiday cash first.
Birtles says she's become a big fan of house-swapping, which can cut costs enormously - especially for bigger families. In some cases, you can even swap cars and boats.
And swap to cheaper brands
Swap Samsonite suitcases for Argos ones, or Ray-Bans for sunglasses from BooHoo. By switching from Piz-Buin sun cream to Delph, says Travelex, you can pay £3.10 a bottle instead of £11.