There’s no mistaking it – travel is expensive. So much so that about 30 percent of Americans who plan to travel this summer expect to go into debt to pay for their trip, according to a report by Bankrate. About 50 percent say they aren’t traveling at all because it’s too pricey.
Fortunately, there are ways to keep costs down when traveling. Here are five expert tips to make your summer vacation happen without going into debt:
Plan in advance. When it comes to travel, the early bird often gets the worm. You can often get better prices or availability the further out you book. Planning in advance also allows you to budget better.
Take advantage of rewards programs. If you can book your flights and hotels using rewards points earned through credit card purchases or hotel and airline loyalty programs, then all you need to pay for is your meals and activities.
Start a savings account. Experts suggest keeping a separate savings account to save for your trip. Just make sure to keep your travel fund separate from your emergency savings account.
Take advantage of deals. Being open-minded about your travel destination can save you money. Experts caution that before you take advantage of a flight sale, be sure to check that affordable hotel stays are available at your destination.
Travel off-peak. If you can avoid peak season for your desired destination, you can often save big bucks on hotels and airfare. Additionally, early morning and red-eye flights can save money, as can flying on weekdays over weekends.
What do you do to save money when traveling? Message The Seniors Trust on Facebook or X (formerly known as Twitter) and let us know your favorite travel tips.
