How to Save Money on Your Next Vacation
Now that summer is approaching, you might be gearing up for your next trip. Whether vacation means sunbathing on a beach or snowboarding down an icy slope, you can plan your trip on a budget. Bank of America’s Better Money Habits has some great tips for saving money on your next trip.
Now that summer is approaching, you might be gearing up for your next trip. Whether vacation means sunbathing on a beach or snowboarding down an icy slope, you can plan your trip on a budget. Bank of America’s Better Money Habits has some great tips for saving money on your next trip. Here are five ways you can save. Check out travel tips from Better Money Habits.
1. Save by traveling on certain days
Did you know you can save 10 to 40 percent off on your flights if you travel on Tuesday, Wednesday or Saturday? Many people travel on Fridays and Mondays to get an extended weekend. Some airlines charge higher prices on popular travel days. Traveling in the middle of the week won’t get you an extended vacation, but it might help you save a few dollars on your plane ticket.
You can also save about 5 percent off on your international flights by traveling Monday through Thursday instead of the weekend.
2. Book on Tuesday
Believe it or not, the same exact flight could be priced differently depending on which day of the week you book. You might be able to save by booking on Tuesday, which falls right after airlines have released their sale prices and viewed their competitors’ pricing.
Be sure to book all of your travel arrangements in advance, no matter what day of the week. Prices go up if you wait until the last minute. It’s best to book your flight at least three weeks in advance to avoid being overcharged. Booking in advance also gives you enough time to comparison shop before swiping your card.
3. Pay for your trip using debit or cash
If you have the money, pay for your trip upfront instead of using credit. When you pay for your vacation on your credit card, you might not be able to pay your credit card bill in full when it’s due. This means you’ll end up paying interest on top of your base travel fare. It’s better to pay upfront and forget about it than pay with a credit card and get hit with the bill later.
4. Join a loyalty program for discounts
You may be able to score deals by joining a loyalty travel program. Some third-party hotel and flight booking websites allow you to bundle your flight, hotel and rental car bookings to save about 10 to 20 percent on the cost. Some also offer special rewards for members who frequently book through their platform. This could mean that after you book two flights, you’ll receive a discount on your third flight. It could also mean after a certain number of hotel stays you’ll qualify for a completely free stay. Find the loyalty program that works best for you so you can continue to save money and get rewarded when you spend.
5. Save while you’re there.
Even though you’re on vacation, keep your savings goals in mind as you enjoy your destination. You can treat yourself to an expensive dinner but be sure to eat a modest breakfast and lunch. If you’re looking for things to do, be sure to check out the free attractions like national landmarks, parks and museums first.
Don’t get too caught up in buying souvenirs! The first time I visited an island was for spring break during my junior year of school. Being young and excited, I decided to splurge on just about every souvenir that said “Puerto Rico” I could find. I probably spent $100 on cups, keychains, T-shirts and wall decorations, but I couldn’t tell you where any of those items are today.
If you are going to spend money, try to spend it on experiences that you’ll remember instead of spending on minuscule items that you’ll probably lose when you return home. Explore other ways to save when you travel
6. Take the America Saves pledge to save for your next vacation.
Savers with a plan are twice as likely to save successfully. When you take the America Saves pledge, we’ll make sure that you stay on track to reach your savings goals. We’ll send reminders to make your savings deposit into your travel fund and weekly messages with creative ways to save. Take the America Saves pledge and start saving today.