Traveling Without Breaking the Bank
From my twenty years of experience, I have come to realize that traveling on a budget is an art that must be learned. Many people treat vacations as the time and place where they splurge and spend great amounts of money on elaborate trips. Many of us want to be able to do that, but do not have the financial ability to do so. The good news is you do not need to have thousands upon thousands of dollars set aside in order to go on a fun-filled, adventurous trip. A large part of the process is planning, while another large part of it is prioritizing. Here are a few things to consider when thinking about traveling:
- Planning in Advance. If you plan your trips in advance, you have the added benefit of being able to watch prices and find the best deals. There are many free websites and apps out there that will track prices of flights. A favorite one of mine is called Hopper. You have the ability to choose a flight, then it will send you updates if the flight price drops, if the flight price is likely to rise or fall, and if you should wait to purchase or buy immediately.
- Airline Credit Cards. If traveling is an important part of your life, you may want to consider getting a credit card that is associated with your favorite airline. You can also shop around to see which airline credit card makes the most sense with your trips. Most airline credit cards will give you a certain amount of bonus points if you spend a certain amount of money within the first few months of opening their credit card. You can capitalize upon this opportunity if you know you have some large, necessary expenses coming in the near future. Therefore, you are not making needless purchases to get the bonus points. I am most familiar with the Southwest credit card. With the Southwest card, if you travel very frequently, you have the ability to earn a companion pass. A companion pass allows you to bring another person for free (except for taxes and fees) on any Southwest flight. This includes international travel. That two for one deal is hard to beat.
- Food and Drink. While traveling, food expenses can add up very quickly if you are not intentional about what and where you are eating. Some people really prioritize spending money on food and going out to eat during trips. This can be a slippery slope. If you approach trips with the goal of saving money, shopping at local grocery stores for your meals just like you would at home could reduce spending. You can also limit the number of times you choose to go out to restaurants. Generally, eating at street stands is a much more affordable option than at sit down restaurants.
- Stay. Where you stay at matters. Rather than staying at a nice hotel or resort, you should consider looking into rental options. When comparing prices per night, staying in a rental property is often a cheaper rate. Generally, you also are also provided with more space and freedom in a rental property than in a hotel or resort. The homey feel comes along with it, and the kitchen you will have access to will help in the long run with making your own meals.
Once you begin doing some research, you will quickly realize that it is possible to not break the bank every time you want to take a vacation. For you to be successful in this, you must be committed to not overspending and might have to sacrifice a few wants on your trips.
Resources
Ewen, N. (2020, December 30). How to quickly earn the Southwest Companion Pass. The Points Guy. https://thepointsguy.com/guide/earn-southwest-companion-pass-new-year/.
LaPonsie, M. (2019, October 7). Best Apps for Finding Cheap Flights. https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/best-apps-for-finding-cheap-flights.
Spencer, E. H. (2020, September 16). Traveling On A Small Budget – Travelers’ Tips And Hacks. Money Under 30. https://www.moneyunder30.com/guide-to-traveling-on-a-small-budget.