Savvy consumers who are on a budget can still take the vacation of your dreams and have fun. Just because vacation funds may be limited, this doesn’t mean that you can’t have an amazing adventure and finally take your dream vacation. Here are some creative, budget-savvy tips on how to save money when you plan your next escape.
How to Save Money when Planning a Vacation [8 tips]:
1. Plan Ahead
The key to affording your dream vacation is to plan ahead in order to save! Take advantage of discounts on airfare and hotels by booking early, as many companies offer cheaper rates when you make reservations way in advance. Also, another tip on how to save money on your vacation is to do your homework and search online for local activities, restaurants, and landmarks that are budget friendly to keep you entertained. Booking excursions ahead of time and even online can also help you save.
2. Budget and Start Saving Early
A firm budget and a solid plan to save for your trip are necessities if you are looking for ideas on how to vacation without breaking the bank. Make a savings plan you can stick to. If you make weekly or monthly deposits into your vacation fund savings account, your trip will be paid for when you are ready to go. While vacationing, set spending limits to keep you in check so you don’t overspend.
3. Earn Extra Money with a Cash Back Credit Card
Finding ways to earn and save more money is always helpful when there’s an upcoming vacation to plan for. If you use a credit card for essential expenses and pay your bill in full each month, why not earn some extra cash in the process. Cash back credit cards like the Visa Max Cash Preferred Card from Allegiance offer members a chance to earn the maximum cash back on credit card purchases.
4. Avoid the Busy Season
Every vacation destination has a busy season and a slower season. Don’t underestimate the amount of money you can save on your vacation by simply avoiding the busiest travel season. Avoid peak travel times like spring break, Christmas, and other popular holidays and vacation instead during off-peak months. You will get much better deals on everything from airfare to hotels, not to mention shorter lines at popular attractions due to less crowds during the off-season.
5. Save on Transportation Costs
Getting around during your vacation can be pricey, but not if you know how to save money on transportation. Look for accommodations that are within walking distance of all of the popular landmarks you plan to see. Also, choose more budget-friendly options like off-peak air travel times, public transportation, local/regulated taxis, and Uber to get around to save money.
6. Eat Like a Local
When possible, bring your own food along for the trip or shop at a local grocery store once you arrive. This is some of the best advice when it comes to learning how to save money on vacation. Making your own sandwiches, bringing your favorite snacks, and stocking up on water and beverages can really add up. If you can avoid paying for expensive meals at the airport and overpriced themed bars and restaurants aimed at tourists, your vacation budget will stay in check. If making all of your meals takes the fun out of vacationing, try only eating out one meal each day. If you can avoid purchasing all three meals, it will be worth it!
7. Explore Free Attractions and Landmarks
Make the most of your vacation dollars by learning how to save money at your destination’s landmarks and attractions. Search online for free things to do on vacation in your area. Also look for discount tickets to local landmarks, including those for seniors or students that can save you money. Planning to spend time away from the overpriced tourist areas and finding unique local attractions and shops away from it all can result in a fun adventure and a ton of savings.
8. Make Your Money Work Harder
If you’re looking for ideas about how to save money before your trip, you need to rethink the location of your current money. Consider making your existing money work harder for you by investing it in a money market account, which still allows easy access to your cash or a CD with great rates and terms as short as 6 months. Moving your savings into one of these accounts, versus a standard savings account, may help you earn a higher rate which adds to your savings.
Allegiance Is Here to Help
When you’re ready to travel, Allegiance can help you prepare and fund your next adventure. Whether you are looking to finance your vacation with a personal loan, credit card, fast cash loan, or a home equity line of credit, we are here to help you find the best solution for your needs.