Friday, September 18, 2020
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How to Save on your Next Vacation

When trying to take a break from the stress of day to day life, the last thing you want to think of is your finances. Lodging, airfare, rental cars, and entertainment can certainly add up quickly. We’ll show you some of the best ways to save on your next vacation no matter the location.

Shop Around

Travel prices for lodging, airfare, and car rentals can vary widely from place to place and time to time, always be sure to shop around before making your decisions. According to Airfarewatchdog, Tuesdays and Wednesdays tend to have cheaper fares compared to other days of the week.

Lodging

Hotels and lodging can be tricky to know when you’re getting the best deal possible. With today’s technology, prices can change hourly and even minutely. It’s best to book your hotel about 20 days out, or 3-4 weeks. Anything prior and you might end up overpaying. To find the best price, check out several different booking websites and ALWAYS check the hotel’s website. You might be surprised to find that the hotel might have a better price than other options.

TIP: Continue to check hotel prices after booking. If the price goes down, some hotel may price match!

Consider a Short Term Rental

Short term rentals like Airbnb and VRBO are all the rage right now, and for a reason. Sometimes you can score a whole house with nicer amenities than a hotel for half the price. That’s right, your next vacation might be a good time to start exploring!

Airfare

Your airfare is typically THE second most expensive cost of your vacation after lodging. To keep costs low, be sure to research the cheapest days to fly. Hint, it’s typically the cheapest midweek. It’s also a good idea to browse anonymously. Websites can use cookies to track your searches and, you guessed it, can raise prices if they notice you’ve been visiting the same property over and over again. Hop in an incognito or private window before searching.

Depending on your anxiety level, you can usually find a better deal on a budget airline. Airlines like Frontier, Allegiant, and Spirit offer low prices in exchange for comfort and hospitality. Just be sure to add up all the costs as they will usually charge extra for a carryon or checked bag.

Create a budget – and stick to it!

We get it, it’s vacation. You don’t want to think about finances. But this can cripple any advancements you’ve made in your finances over the previous months. Try creating a spreadsheet of all expenses you are going to budget and allocate them accordingly. Break your budget down by day so that you can better track your spending.

Find Deals

Looking to save on meals and entertainment? Check out Groupon first to see if you can get an extra discount on your meals or entertainment. You’ll be surprised to find that many local attractions offer some sort of discount.

Use a Credit Card

Booking a $2,000 hotel can offer you $30 in credit card rewards on a card that offers a standard 1.5% cash back on purchases. That’s a free $30 compared to using a debit card. Even better, some cards offer better travel rewards than others. If you are a frequent traveler, it’s probably wise to look into these cards. Some of our favorites are listed below:

  • American Express Platinum
  • Discover It Miles
  • Chase Sapphire Reserve

In addition, many cards will offer a sign up bonus that you could use to lower the cost of your next vacation. Usually, you can score anywhere from $200 to $500 in bonus rewards.

These are just a few ways to save on your next vacation. We’d like to hear your favorite ways to save! Comment below!

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Forrest
Forrest is a personal finance, entrepreneurship, and investing enthusiast dedicated to helping others obtain life long wealth. He owns several different blogs and is also passionate about health and fitness.

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