Wise Travel - How to Save on Vacations

Wise Travel - How to Save on Vacations

With the start of winter officially setting in, day dreams of tropical islands and warm weather getaways are the subject of many a dreary workday fantasy.  The expense and extravagance of such a vacation however can seem just as out of reach, especially once all the holiday spending bills come due.

Thankfully, travel doesn’t have to translate into an indulgent expense.  By planning ahead with these savings strategies, you can enjoy the getaway monopolizing your free-time fantasies without sacrificing your budget.

Eliminate Housing Costs.  If you feel comfortable renting out your home or living space while you go on vacation, you’re likely to free up more than enough cash from your monthly budget to afford your travel expenses.  Reach out to friends and friends of friends on social media to find someone trustworthy to rent your space to, or use a site like Air Bn’B that has a peer review system to find someone responsible and willing to pay you for your otherwise empty space.

Plan Travel Around Travel.  Plan your next vacation around your next business trip.  With part of your travel expenses already subsidized through work, you’ll only be on the hook for the “extras”- like your significant other or the excursion to the local breweries.

Plan Travel Around Your Networks.  Another fantastic way to save on major travel costs is to reach out to your extended networks of friends, family, and acquaintances.  You might be able to score a free night or two in someone’s guest bedroom in addition to a free home cooked meal or two, not to mention you’ll benefit from the local perspective on wherever you’re visiting. 

Make the Most of Rewards.  If you travel frequently, be it for work or for personal reasons, make sure you’re signed up with every airline and hotel loyalty program.  Nights and flights here and there can add up to freebies in the future.  Don’t miss out by failing to take advantage of this simple savings strategy.  And check your existing rewards plans to make sure there isn’t rewards available that you are overlooking. 

Accumulate Extra Rewards.  In addition to earning perks through travel loyalty programs, you can accumulate additional rewards through incentive programs like credit card cash back categories and sign up bonuses.  If, and only if, you are a responsible credit user, get rewarded for spending you’re already doing by using a credit card with travel perks to pay the bills.  You can earn as many as 50,000 miles toward your next trip just by using the right credit card.  

Do Your Research.  Before embarking on your trip, spend some time researching both travel essentials, like local transit, and travel extras, like special activities and attractions.  Reading reviews on sites like Yelp and TripAdvisor is not only a great way to see whether an activity is worth the expense, it’s also an innovative way to find out about special deals and savings strategies.  Even a simple Google search can turn up a host of budget friendly recommendations.   Finally, take a look through popular deal sites like Groupon and Living Social to find out about any extra special discounts on local activities.

By implementing these travel savings basics on your next trip, you might find you can afford the expense of a vacation without any significant alterations to your monthly spending plan.