Family vacations will hopefully be back in full swing by summer 2022. The plus side to all the travel warnings and restrictions is that you will have ample opportunity to take advantage of discounts. Resorts, airlines and hotel chains are all offering great deals to entice travelers and make up for lost profits during the height of the COVID-19 pandemic. Because travelling as a family can be so expensive, people who don’t have a lot of savings assume it’s off limits to them, but this isn’t the case. With some early bird shopping, you can score great deals and even take advantage of a few unexpected ways to get more money for your travels.
Sign Up for Cashback Rewards
Saving on vacations is much easier with a card that offers cashback incentives. The best travel credit cards allow you to save up to 5 percent back on transportation and accommodations. By applying six months or more before you intend to travel, you can demonstrate good credit use to your lender and likely have your line extended for even more spending and saving opportunities prior to your vacation.
Scale Down Your Itinerary
You can have greater experiences by visiting fewer places, especially if they are theme parks or large-scale attractions. One mistake tourists make is overspending to see everything a destination has to offer. Unfortunately, this results in wasting money while limiting the amount of time you get to spend in each location. When you’re choosing your next travel destination, pick one to three must-sees that you’ll prioritize above all else. These open the door for all-day excursions that are truly memorable. Visiting fewer locations may also allow you to spend less on accommodations. While you shouldn’t necessarily give up vacation days, you might consider how some time off at home in addition to travelling could be just as, if not more, restorative.
Don’t Overlook Domestic
You might have your sights set overseas, but there are plenty of amazing places to visit in the United States. Domestic flights are cheaper, and you may even be able to turn your vacation into a road trip to save even more. Because international travel is still complicated by testing, vaccination requirements and restrictions, you may benefit more from choosing a local destination. To save the most, why not opt for a staycation and play tourist for a weekend in a nearby city?
Use Your Existing Assets
High-yield savings accounts and home equity can both provide the necessary funding you need for a great trip. Opening a savings account right now could give you months to invest, but you already have access to a home equity line of credit if you’re a homeowner. You can review a guide on everything you need to know about taking out a HELOC in this helpful, easy to understand guide.
Book Directly Through Hotels and Airlines
If you book online, the rates may fluctuate as you browse, but the final price is cut and dry. However, if you book through an airline or hotel chain directly, you have the opportunity to save more and potentially negotiate a better rate. Booking sites take a percentage of each sale, so rates could be raised in order for hotels and airlines to take home more from the transaction. Make sure you comparison shop, but don’t do it without frequently clearing your internet browsing cookies. Too much browsing may cause some sites to show you higher rates as a result.