Summer is right around the corner, ushering in the end of the school year and possibly a more casual work schedule that allows for greater freedom. This freedom, however, may evoke dreams of potential travel and adventures that your finance may not necessarily accommodate. Yet, summer fun doesn’t necessarily have to mean outrageous spends, if you know how to get creative with your budget.
With the onset of summer, a surge in travel among Americans is a common observation. Should you find yourself among this group, certain online resources can prove incredibly beneficial to effectively manage your expenses. Platforms like Tripadvisor, Expedia, Hotels.com, Groupon, and Airfairwatchdog.com can immensely help in securing affordable deals on all travel-related bookings ranging from flights to accommodations.
A prudent way to maximize savings could be to check with your credit card issuer for any ongoing travel deals. For instance, premium members of SoFi enjoy a minimum of 10% discount on select hotel bookings. Furthermore, booking your travels via your credit card allows you access to an unlimited 3% cashback, adding to your overall savings.
Additionally, certain financial institutions reward their cardholders with travel points. Such rewards can considerably lessen your flight costs when redeemed. Similarly, if you are loyal to specific hotel chains or automobile rental services, consider subscribing to their member-specific or rewards programs.
Rewards programs offered by hotels or automobile rentals can aid in your savings. These loyalty programs yield points when used, which accumulate over time. With enough points, you could secure free hotel stays or reduced rental charges. Certain safeguards like price protection could also bring down your expenses. It ensures you receive a refund if your travel expenses decrease post-booking.
Alongside leveraging your credit card benefits and rewards programs, considering buying travel insurance might help provide additional financial security. More so, the use of coupons could lead to impressive discounts. Carry out some internet-based research on the top 10 tourist attractions of your destination and explore if any coupons exist.
People eligible for senior or military perks or families with children below a certain age limit might find zero-cost or reduced admission charges in certain venues. Such benefits only underscore the importance of doing your homework while planning your trips. It might just result in substantial savings, adding more to your travel coffers.
Communities often conduct cost-effective or free events like fairs, parades and movie screenings in parks, a boon for families with children. Such events provide a wholesome experience while also enabling you to witness the destination beyond popular tourist spots. However, one must be wary of additional costs that don’t solely pertain to the lodging and transport.
Post your trip booking, there may be additional costs like baggage and dining fees that can surprise you. If travelling by air, it’s advisable to pack minimally as several budget airlines, such as Spirit, compensate for their low flight costs with hefty luggage charges. Be sure to review your airline’s baggage rules to avoid last-minute surprises at the airport.
In the recent past, several dining outlets have increased their prices. One way to manage such additional costs could be by carrying your own snacks. If cooking is an option, visiting local grocery stores or farmers markets to stock up for a few meals can further save costs. Opting for self-cooked breakfasts or lunches and restricting dining out to dinners can drastically cut your food bills.
When it comes to souvenirs, renowned tourist hotspots often put a high price tag on their merchandise. A cost-effective approach could be capturing memorable moments on your own camera, or opting for affordable alternatives like postcards or magnets. Given that travel is about creating beautiful memories, it might make more sense to invest in experiences versus physical mementoes.
As you start chalking down your summer plans and feel anxious about the potential costs, remember that meticulous financial planning can help. Reevaluate your budget to identify areas where you could cut back and save more. Dedicate this extra cash towards the experiences or trips you desire to embark upon.
Instituting cost mitigation strategies as mentioned can help manage your overall expenses. Conscious saving in advance can also curb unnecessary expenditures and the risk of debt accumulation. More importantly, it makes your travel less money-centric and more focused on enjoyment and relaxation, which is, after all, what any vacation is about.