So, you’ve saved some money. You’ve researched how to keep that money safe while you travel. You’re finally ready to book that dream trip. But one question remains: is it possible to enjoy that trip and not return home to a depleted bank account? Follow these money-saving travel tips to make the most of what you’ve saved.
Before You Leave
1. Book Off-Peak Times
In peak travel season—spring and summer—prices are high for transportation and lodging. Off-peak months—September to March—are generally cheaper. Also, when booking flights, cruises, tours, or car rentals, consider traveling a day or two earlier (or later). Mid-week bookings can save you hundreds (or even thousands) on popular options.
2. Be Flexible with Your Plans
It’s easier to travel on a budget if you don’t have a chosen destination or time frame—especially if you’re limited to peak travel season. Instead of thinking, “I want to go to Bali on July 19”, think, “I want to go somewhere tropical this summer” and let opportunity be your travel agent. Use fare comparison websites to find the best deals and weigh your options.
3. Use Budget-Friendly Accommodations
Look into alternative lodging options like hostels or home exchanges (like in the movie “The Holiday“), which are typically cheaper than hotels and provide a more local experience. Depending on the locale, you can also find guest houses, bed-and-breakfast spots, villas, Airstream trailers, or even glamping tents for less than a traditional hotel. All these options are unique and often have greater availability during peak travel seasons. Just be sure to book with a reputable source and watch out for vacation rental scams.
4. Monitor Deals and Discounts
You don’t need a travel agent to find the best deals on flights anymore. These days, you can enlist metasearch engines—like Kayak, Google Travel, or Skyscanner—to do the work for you. Just sign up for price alerts to get updates on your favorite destinations. You’ll choose your origin, destination, and (occasionally) some dates. The sites will then search for the best rates and send notifications when prices drop. Also, subscribe to newsletters from airlines, travel agencies, and deal websites. They often send out special deals and discounts.
5. Take Advantage of Discounts
Before you book, look for student, military, government, or senior discounts if you qualify. Many places offer reduced prices for these groups but don’t widely advertise the discounts. If you don’t see discounts advertised, ask! You can also get discounts for being a member of AAA, AARP, Costco, Sam’s Club, or certain civic organizations (like Rotary, Optimists, or Lions Club). You may even be entitled to travel discounts as an alum of certain universities, fraternities, and sororities.
6. Research Exchange Rates
Before you book a trip to a foreign country, monitor the exchange rates. Watch the rates over a period of time—not just the days before your trip—to gain a better understanding of the trends. If you can, get your foreign currency from a bank and skip the airport currency exchange. Their exchange rates are often less favorable, and they charge higher fees than banks or ATMs. If you arrive at your destination and need foreign currency, opt for an ATM. Fees may apply, but it will cost you significantly less than an airport kiosk.
While Traveling
7. Cook Your Meals
If your hotel, vacation house, or condo comes equipped with a kitchen, use it! Shop at grocery stores and cook some of your meals to significantly cut your dining costs. Or visit local markets and farm stands for fresh, affordable ingredients. While exploring, carry water and protein-heavy snacks (like jerky or protein bars) to get you by between meals.
8. Ask the Locals
Want a surefire way to save money and experience the best things your destination has to offer? Ask the locals. Touristy locations are often priced for maximum profit. The places locals frequent are often cheaper, less busy, and more interesting.
9. Don’t Sleep on Lunch or Street Food
If there’s a pricey restaurant on your must-try list, check out their lunch or happy hour menu. Restaurants and bars (especially the expensive ones) often have highly discounted (slightly smaller) midday portions. Or seek out the popular local food carts. In many cities, the best food can be found at food carts or hole-in-the-wall spots that don’t make the travel guides. Look for crowded booths. A long line is typically a sign of both quality and popularity.
10. Use Public Transportation
Instead of renting a car or using taxis, use public transportation. It’s cheaper and gives you a better chance to experience the local culture. Some cities even have shared bikes, scooters, and mopeds that can be rented for just a few dollars. Most require a debit or credit card and are pay-as-you-go. Most are also “dockless”, which means they don’t have a fixed location. They are easily findable in packed urban locations and don’t have to be returned to the same spot.
11. Enjoy Free Activities
Research free activities and attractions at your destination. Parks, museums with free admission days, and walking tours can be just as enjoyable as paid attractions. Look for local papers, magazines, and community boards to find advertisements and listings for free events. You can also search Google and Facebook for events happening in the area during your visit.
12. Track Your Spending
To stay within budget, track your expenses as you go. Save your receipts and tally them up at the end of each day or crunch the numbers in a notes app on your phone. Make sure to keep a running tab of everything—from meals and gratuities to purchases and event tickets. If you need extra help, download a travel budget app (like Tripcoin, TravelSpend, and Splitwise).
Want to learn more summer travel money tips?
- Learn how to save for that dream vacation with our Summer Travel Savings Tips.
- Find out how to protect your money while traveling with our Summer Travel Safety Checklist.