If your friends are suggesting destinations that are out of your budget, suggest alternatives rather than saying no to the holiday entirely.

“Lesser-known islands or towns just outside of main cities are often a lot less expensive and usually have fewer tourists,” says Chapman. “Look at other accommodation, like renting an apartment or an Airbnb instead of staying in a pricey hotel. Staying somewhere with a kitchen means you can save money by cooking at home instead of eating out every night.”

Of course, you want everyone in the group to be happy, so compromise where you can. “You could suggest a cheaper hotel that has options for your friends to have luxury upgrades or you could stay in a cheap apartment that means you can budget for more extravagant activities and nights out. If possible, suggest changing the dates they’re looking at and travel out of season to save money on destinations you couldn’t afford in the height of summer.”

How to plan a group holiday with friends that earn more than you, according to an expert