The cheapest time for a summer holiday

The Association of British Travel Agents (Abta) says overseas holidays tend to cost less around the last week of August or the first week of September, just before kids go back to school.

Travel agent Thomas Cook confirms that prices often dip towards the end of the school summer holidays.

For those wishing to book a DIY holiday, British Airways says there is no noticeable cheaper period within the school holidays on its routes.

Late package holiday savings examples (based on family of four)

• A seven-night, self-catered package at the three-star Bouganvilla Park in Sa Coma, Majorca, booked through Thomas Cook, from Manchester, would cost £1,812 departing 30 July or £1,258 departing 28 August. Saving: £554.

• A seven-night, all inclusive package at the four-star Hotel Marmaris Palace in Icmeler, Turkey, booked through Thomas Cook, from Gatwick, would cost £2,870 on 5 August or £2,596 on 29 August. Saving: £274.

More cost-cutting tips

• Thomas Cook says overnight flights are cheaper than daytime jaunts.

• Abta says flying during the week, rather than the weekend, is cheaper.

• The current cheapest package holiday destinations are Egypt and Turkey, Abta adds.

How to find the cheapest deals

• It's a good idea to use comparison sites such as Travelsupermarket.com and Teletextholidays.co.uk to find the best package deals.

• MoneySavingExpert.com's Flightchecker is a good place to source the cheapest budget flights if booking a DIY holiday.

• Tripadvisor.com can also be useful to find customer reviews on your chosen hotel.