Budgeting While On Vacation
Enjoying your summer with your family or friends doesn’t have to make a huge dent in your savings — even while on vacation. Whether you to do a little or a lot while on your vacation, there are inexpensive alternatives to making the most of your summer vacations the most enjoyable. Check out some of these budget-friendly tips to learn how to save money while on your summer trip.
Purchasing Airline Tickets
It’s always best to plan in advance and visit discount websites to see if there are better deals. While these sites might charge you a service fee (usually around $5 or so), they can easily combine flight segments from different airlines to give you a great deal.
Connect Your Flights
You might think of connecting as an inconvenience, but it sure can save you a good chunk of money. Consider the pros and cons and don’t write it off right away.
Some airlines charge for everything and so if you have 1 bag (or more), expect to be charged extra unless you are flying with an airline who clearly states they do not have extra fees for checked-baggage. Avoid oversized bags (+50 lbs.) and try to keep the ratio to one bag per person.
Car Rentals & Transportation
Car Rental Coverage
Always be sure to get insurance. If you get into any kind of bump, scrape, or crash, it will save you more money in the end.
Rail, Metros and Subway
If you are traveling to Europe, do yourself a favor and research multi-trip discounts. Many metros and rails have passes such as a 3-day unlimited travel passes which might be worth the cost. Also consider using the metro systems in domestic cities. Depending on the efficiency, you could save a ton of money moving around from landmark to landmark and activity to activity with this form of transportation.
Take Night Trains & Flights
If the transportation is going to be long, consider traveling at night to save money on your accommodations and many hours of your vacation time.
Staying in a Town Nearby
Sometimes the smaller towns close to where you are going have hotels that are much less expensive.
If you are staying at a destination for at least a few days, consider a vacation home instead of hotels. They are often are more comfortable and your cost will probably be cheaper. Look up AirBnB and its competitors!
Instead of having two rooms, consider the two-bedroom suites that some hotels provide. They will end up being cheaper and you get just as much privacy with your own room.
Plan-Out Your Meals
You would be surprised how much money you can save on vacation by planning your meals in advance. If you make the extra investment to rent a vacation home with a kitchen you might be shocked how much money this extra cost ends up saving you.
In case you don’t have an oven and fridge at your disposal; the next best step will be to figure out where you will be on different days. Investigate local restaurants that are inexpensive and have great reviews. This is not just good for your wallet, but your stomach too — since you will probably find economical restaurants that taste great.
If you are staying at a hotel: take advantage of this.
Eat More at Lunch Than Dinners
Lunches are often much less expensive than dinners. If you eat a big breakfast, lunch and a light dinner, it’s also healthier.
Watch That Currency
If you never really had a preference in travel destinations, consider the exchange rate when you travel. This sometimes makes the biggest difference.
Lots of exchange centers have poor exchange rates so don’t go there. Search the internet to find out good places to get cash in the local currency. For example, a quick search tells you that the best exchange rate is found at the airport and using ATMs in Taiwan and France respectively.
The information mentioned in this article is for informational purposes only, is intended to provide general guidance and does not constitute legal or tax advice. Each person’s situation is unique and may materially differ from the information provided herein. You should seek the advice of a financial professional, tax consultant and/or legal counsel to address your specific needs before any financial or other commitments regarding the issues related to your situation are made. Banco Popular North America does not make any representations or warranties as to the content contained herein and disclaims any and all liability resulting from any use of or reliance on such content.