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When wanderlust strikes, it’s hard to squash the urge to get up and go. But like most Americans, money is a concern.
Luckily, traveling on a budget isn’t impossible. In fact, more and more people are traveling — and they’re sharing their tips and tricks to saving while on the road.
Here are a few tips to get you started on your next big trip:
Go during the offseason
First, you need to choose a destination. But with a bucket list longer than your Monday to-do list, how are you supposed to choose?
Once you know when you’ll be able to travel, you can narrow down your list. From there, you should look into when the heavy tourist season is for your top few picks. In some cases, you’ll need to bite the bullet and go when everyone else is. You can’t see New Hampshire’s famous fall foliage in May, for example. But in other instances, you could save a lot of money by traveling during the offseason, like November through March in France.
Use points or miles
As you shop around for plane tickets or road trip routes, look into where you can use credit card points and airline miles. Even if you only pay partially with these types of rewards, that’s money that could go toward a tour or a seat upgrade.
If your current credit card doesn’t offer rewards like these, talk to your preferred financial institution about enrolling in a benefits program or opening a new account.
Do a little research ahead of time
We know, no one likes homework. But truthfully, one of the simplest ways to save money is to do a little research ahead of time.
Once you’ve decided on a location, look into local lodging and transportation options. Are hotels cheaper than Airbnbs? Is there a cab company that’s known for being more expensive than others? Are there free or discounted walking tours you could take? Knowing these tips and tricks could prevent you from making last-minute and expensive decisions.
Create a budget
As you compile your research, start creating a rough budget with the information you find. Once you’ve got a flexible itinerary laid out, determine how much you want to spend on food, drinks, souvenirs, and more.
And as difficult as it may seem, stick to that budget! You’ll be surprised how much you save.
Jade Beckman, Vice President of Consumer Loans at Mountain America Credit Union, shared: “Responsibly using your credit card is one of the keys to being financially successful. Unforeseen expenses are bound to happen during your travels, so whether you’re preparing yourself for a last-minute rental car or need a spur of the moment hotel room due to a delayed flight, make sure you’re ready for the unexpected. After your vacation, make specific plans on how you intend to pay it off as possible.”
Find a room with a refrigerator and microwave
And while you’re thinking about food, consider finding a hotel, hostel or room with a refrigerator, microwave or stovetop. You’ll be able to bring back leftovers from restaurants, and groceries that could help prevent you from blowing through your budget too fast.
Set up an automatic savings account for travel
Finally, as you plan your dream getaways, consider setting up a savings account that can be used purely for travel. Your financial institution can help you decide what kind of account is best for you and how much you should aim to save each month based on your individual goals.
