If You Do One Money Thing This Week, Use These 5 Simple Tricks To Cut Your Travel Costs
With summer right around the corner, many last-minute planners are still finalizing their summer vacation plans. Unfortunately, with fuel prices at multiyear highs, the cost of taking a vacation has increased significantly.
According to a U.S. News & World Report survey, 65% of Americans have even decided to alter their summer travel plans because of the cost. Luckily, not all hope is lost if you still want to get away. We’ve put together five simple tricks to help you cut your summer travel costs.
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1. Be Flexible With Your Travel Dates
One of the best ways to save money on airfare and hotels is to be flexible with your travel dates. Even shifting one or two days in either direction can save a significant amount of money.
If you have kids, this can be a little more difficult since you might be working around school schedules and extracurricular activities. However, midweek flights are almost always significantly cheaper than weekend flights. You’re also going to pay more if you’re hoping to travel around a holiday.
2. Use Price Alerts Before Booking Flights
If you have some flexibility, use a tool like Google Flights or Skyscanner. Simply enter your destination and departure location and it will show you prices for different timeframes. This will help you pick the least expensive dates for travel.
If you have some time before you’re hoping to travel, you can also set up price alerts. Airlines can change pricing fast based on demand. Even waiting a few days to book flights can help you save money.
3. Stop Paying for Extra Luggage
Once you’ve purchased your airfare, it’s important to understand that your costs could continue to rise. If you’re traveling internationally, many airlines still offer one free checked bag. But domestic travelers aren’t so lucky. Almost all airlines have started increasing their baggage fees to make up for higher jet fuel prices.
There are a couple of things you can do to save money. Many airlines offer lower baggage fees when you purchase in advance rather than when you arrive at the airport. You can also pack lighter so you can carry on your luggage and avoid checking a bag altogether.
4. Compare Hotels Against Vacation Rentals
There was a time when staying at a hotel was the only option when traveling. Today, vacation rental platforms like Airbnb and VRBO are creating new opportunities for travelers. Oftentimes, these rentals will help you reduce your costs in multiple ways.
Depending on where you’re traveling, vacation rentals can have a lower per-night rate and offer more space. Plus, when you stay at a vacation rental, you’ll likely have access to a kitchen, which means you’re no longer needing to eat out at every meal. Making breakfast and lunch at your rental and then eating out for dinner can save a significant amount of money during a weeklong vacation.
5. Use Credit Card Rewards and Travel Points Wisely
Credit card points can be a great way to reduce your travel costs. Signing up for a new credit card and earning the bonus could give you enough points for free flights. Hotel cards also frequently offer free nights as a welcome bonus.
However, when using a credit card to earn travel points, it’s helpful to pay the balance in full each month. Carrying a balance and paying interest can potentially erase the value of the points you’ve earned.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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