Going on vacation is a fantastic way to recharge and spend time with friends and family. Unfortunately, it’s also expensive to go on a trip. NerdWallet reports that travel costs are up ten percent from the end of 2019. This can make it problematic to stay within budget if you have limited resources. Thankfully, you can still have an enjoyable vacation that is relatively affordable. Here are 12 helpful tips to stretch your dollars on your next trip.
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1. Utilize Your Car
Fortunately, most people won’t need to travel far to go on an adventure. Not every vacation must be a cross-country affair, especially if you have a car. There’s plenty of exploring to do in neighboring cities and neighborhoods.
“If you have a car, all you need is gas and time,” advises one man. “There usually are lots of cool places to visit not far from home, some of which can be very different from what you’re used to at home.”
2. Consider a Staycation
The best vacation can sometimes happen by getting creative inside your home. Staycations are becoming more popular by the day! “I suggest just staying home,” reveals one woman. “Turn off the phones, order takeout/delivery, and have little fun projects to do every day, like jigsaw puzzle day or TV binge day. A staycation can be amazing.”
3. Go Camping
Savvy vacationers admit that the best way to save money while enjoying your vacation days is to go camping. Whether you go at it alone or with your family and friends, camping is the best way to experience nature, relax, and unplug from the rest of the world in the most frugal way possible.
4. Travel During the Off-Season
If you don’t mind scheduling your vacation during the off-peak travel periods, you’ll be rewarded with unbelievable savings. I managed to book a monthlong Airbnb in 2022 in Split, Croatia, taking full advantage of rates that were near-80% off. Not only will your wallet thank you by traveling at off-peak times, but so will your sanity: Many destinations are far less crowded during those periods.
5. Think About a Cruise
Don’t sleep on cruises. What was once a prohibitively expensive way to vacation has become an incredibly affordable way to get away from the chaos of everyday life.
Companies like Norwegian, Carnival, and Princess Cruise Lines routinely offer amazing deals. You’d be surprised how affordable cruises are in 2023.
6. Pay in Installments
It’s generally advised that frugal people steer clear of any pay-in-installment plans. Still, many people reveal that taking advantage of these options can often mean the difference between going on vacation or staying home.
“I’m usually very anti-debt, but I’ve found that splitting an airline ticket or booking fee into four smaller chunks has made it possible to travel more and enjoy memorable vacations,” one man confesses.
7. Visit Friends
Not every vacation needs to revolve around foreign countries and five-star hotels. When looking to save money, take into account the adventure you can experience by staying with friends and family.
From free accommodations to home cooked meals, staying with people you know can stretch your budget significantly.
8. Use Daily Deal Sites
They may not be as popular as they used to be several years ago, but daily deal sites like Groupon offer a terrific way to save money on a trip. Most daily deal sites have a travel section that allows you to find discounts on activities in different cities.
Discounts range from restaurant savings to deals at museums, amusement parks, and more. You can research deals before going on your trip, or wait until you reach your destination to see what you feel like doing.
Just be careful to learn the terms and conditions before purchasing a deal. It’s easy to be burned by a deal if you’re not careful.
9. Use Credit Card Rewards
While credit card usage is never the first choice for frugal people, no one can deny the benefits of a rewards credit card.
If you’re a responsible spender, there’s no reason why you shouldn’t be capitalizing on credit card rewards and turning them into discount hotel stays, flights, and car rentals.
10. Bring Food From Home
Trust me; you must fight the urge to dine out every meal on vacation. It’s possible to travel and save money at the same time! “My family and I have saved so much money by bringing food with us on vacation,” explains one man. “Eating out drains so much from your wallet, and being able to make dinners while on vacation makes the trip much more memorable.”
11. Vacation With Other People or Families
It’s common sense: The more people you travel with, the more your expenses decrease. Many people confess they love traveling with other families and couples, but not for companionship — they love paying less for Airbnbs, meals, and activities. (Although I’m sure the memories of shared experiences are a plus.)
12. Travel by Train
Forget about airplanes; traveling via train is the most underrated way to travel in 2023. Chances are you (and your family and friends) haven’t experienced traveling by train in a long time, and some routes are tailor-made to deliver the most satisfying experience money can buy.
The next time you debate a long road trip in your car, consider going on a train ride.
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This thread inspired this post.
I’m John Schmoll, a former stockbroker, MBA-grad, published finance writer, and founder of Frugal Rules.
As a veteran of the financial services industry, I’ve worked as a mutual fund administrator, banker, and stockbroker and was Series 7 and 63-licensed, but I left all that behind in 2012 to help people learn how to manage their money.
My goal is to help you gain the knowledge you need to become financially independent with personally-tested financial tools and money-saving solutions.
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