Make Your Travel Dollar Go Further
I've gotten pretty good at budgeting for vacations over the years, and I've reached the point where looking for ways to stretch my travel dollar has become almost automatic. Before I book a trip, I have a mental checklist of places I can look for discounts, specials, travel points and other ways to lower the cost. I don't have to sit down and reinvent the process every time I travel because I've developed the habit of running through the same filters before I spend the money.
The result can be pretty significant. I've gotten to the point where it sometimes feels like I can take two vacations for the price of one. I'm fortunate enough to travel quite a bit myself, around ten trips a year, but I'm not suggesting that everyone needs to travel that often. For someone who normally takes one vacation a year, saving enough money to make a second trip possible could be a pretty exciting result.
The trick isn't finding one magical discount. It's learning how to make a series of small decisions that keep more of your travel budget available for the things you actually want to do.
Start With What Matters to You
One of the easiest ways to save money on travel is to figure out where you really care about spending it.
For me, a hotel room is a good example. I certainly appreciate nice accommodations, and I've stayed in some places that were pretty impressive. But I don't travel so I can spend most of my vacation sitting in a hotel room. As nice as those fancy accommodations can be, I'm just not in the category of wealth where I want to spend a huge portion of my travel budget on a room I'm mostly using to sleep.
That doesn't mean I'll stay anywhere just because it's cheap. I don't want to end up in a bad part of town, in a loud neighborhood or in a place where I don't feel comfortable. I look for a hotel that's slightly on the bargain side while still meeting my basic criteria for location, cleanliness, safety and comfort.
That's an important distinction. Saving money doesn't mean buying the cheapest thing you can find. It means deciding what you're willing to pay for and what you're not.
I Usually Take the Middle Ground on Flights
I approach airfare in much the same way.
I've never flown first class, although maybe one of these days I'll give it a try. For now, I'm just not that concerned about having the biggest seat or the fanciest service in the sky. I'd rather keep some of that money available for the actual trip.
But I don't necessarily choose the absolute cheapest economy fare either.
Sometimes I'll pay a little more for the next level of economy because the additional benefits are worth it to me. Depending on the airline and fare, that might mean having the ability to cancel or change the flight, avoiding certain baggage charges or getting other flexibility that can be valuable when travel plans change.
Again, I'm not trying to get the lowest possible price at any cost. I'm looking for the best value for the way I actually travel.
If paying another $30 or $50 gives me something I'll genuinely use, that can be a better deal than saving that money and ending up with restrictions that become a problem later.
I Run Through the Same Checklist Every Time
This is probably the biggest thing I've learned about saving money on travel.
I don't want to have to remember every possible discount every time I book something. I've developed a list of sources I automatically run through, almost like filters. Before I make a purchase, I check whether there's an AARP discount, a coupon code, a special offer through the company's own website, a membership discount, travel points or another source that could lower the price.
I also shop around. The first price I see isn't automatically the best price, even when I'm booking directly with a company I know and trust. Sometimes the better deal is on another booking site, while other times the company's own website has a special offer that isn't obvious at first.
This doesn't have to take hours. That's the important part. The goal is to build the habit until checking for discounts becomes almost automatic.
Don't Forget About Travel Points
Travel points can also make a meaningful difference, particularly if you're going to be traveling regularly anyway.
I build up travel points and look for opportunities to use them when they make sense. Points aren't free money, of course, and I wouldn't recommend spending more than you normally would simply to earn rewards. But if you're already going to make the purchase, getting something back from it can help stretch your travel budget.
Over time, those points can turn into flights, hotel stays or other travel-related savings. One trip may not seem like a huge difference, but the savings can accumulate from one trip to the next.
That's another reason I think about travel budgeting as a system rather than a single bargain.
Look for the Discounts You Already Qualify For
Sometimes the easiest savings are the ones that are already available to you.
I've mentioned AARP because that's one source I personally use, but the larger point is to think about what memberships, organizations, credit cards or other programs you already have access to. You may be entitled to a discount without realizing it.
It's also worth checking for senior discounts where applicable, AAA or other membership programs, military discounts, employer benefits, credit-card travel benefits and other legitimate programs. You don't have to use every program out there. Just know which ones apply to you and make them part of your normal travel-shopping routine.
The same goes for coupon codes and promotional offers. Before paying the advertised price, it doesn't hurt to spend another minute checking whether there's a current promotion.
Look for Free Things to Do
Saving money doesn't only mean finding a cheaper hotel or airfare.
Some of the best parts of a vacation don't cost much at all. Beaches, parks, walking tours, public markets, scenic areas, neighborhoods, museums with free days and other local attractions can provide hours of entertainment without requiring you to spend a lot of money.
That's especially important because activities can add up quickly. A few admission fees, meals, excursions and other expenses can turn what looked like an inexpensive vacation into a much more expensive one.
I don't believe in avoiding activities just because they cost money. If there's something I really want to do, I'll pay for it. But I also don't assume that spending more automatically makes an experience better.
Sometimes the free experience ends up being one of the most memorable parts of the trip.
And Yes, Sometimes Free Really Is Free
This is where travel giveaways fit naturally into the bigger picture.
I don't look at a travel giveaway as the only way to save money on a vacation. It's simply another filter I can run through. If I come across a legitimate giveaway that takes very little time to enter, I'll give myself the opportunity to win.
I don't expect to win every time. But I don't have to.
If a giveaway takes a minute or two to enter and the prize could cover a hotel stay, a trip or an entire vacation, I think it's worth giving myself that chance. I've written before about why I don't think there's a magic number of travel giveaways you need to enter. The important thing is finding opportunities that make sense for the amount of time you're willing to spend.
A free vacation can obviously make a huge difference to your travel budget, but even smaller prizes or discounts can help. The idea is to keep looking for opportunities that let you do more with the money you already have.
Think About the Vacation as a Whole
Another thing that helps is looking at the total cost rather than getting fixated on one price.
A hotel might be $20 cheaper, but if it's 30 minutes farther from everything you want to see, you could spend that savings, and more, on transportation. A flight might be $40 cheaper, but if the fare has restrictions you'll have trouble with, the cheaper ticket may not actually be the better value.
That's why I don't think maximizing your travel dollar means simply finding the lowest number.
It means looking at the entire trip and asking, “What gives me the most value for what I'm spending?”
Sometimes that means paying a little more for something. Sometimes it means choosing the bargain option. The key is knowing the difference.
Make It a Habit, Not a Project
The best thing about having a travel-budgeting checklist is that it eventually becomes second nature.
I don't have to think, Okay, now I need to remember to check AARP, then coupon codes, then the hotel website, then my travel points... I've done it enough times that I naturally start running through those possibilities when I'm planning a trip.
That's what I would recommend to anyone who wants to travel more without necessarily having a bigger travel budget.
Create your own list.
It might only contain five things. Maybe it's your membership discounts, your credit-card benefits, hotel prices, airfare prices and travel giveaways. Once you know your favorite sources, check them every time you plan a trip.
You may be surprised at how much those little savings add up.
Your Goal Isn't to Spend Less on Everything
There's an important difference between being frugal and being cheap.
I'm not interested in making a vacation miserable just so I can say I saved $100. If a slightly better hotel means I'm in a safe, convenient location, I'll spend the extra money. If paying a little more for an airline fare gives me flexibility I value, I'll consider it. If there's an activity I've always wanted to do, I'm not going to skip it simply because it's not free.
The goal is to spend your money where it matters to you and save it where it doesn't. That's how I can look at a vacation and feel like I'm getting much more out of my travel budget than I used to.
Turn One Vacation Into Two
You don't necessarily need to double your income to double your travel opportunities.
Sometimes you can get surprisingly close simply by becoming better at finding the money you're already spending.
If you normally spend $3,000 on your annual vacation, imagine what happens if you gradually find ways to bring that cost down. Maybe you save $300 on accommodations, $150 on airfare, $100 on activities, $100 through points and another $100 through discounts and promotions.
You haven't changed the vacation into a cheap vacation. You've simply found another $750 that can stay in your travel budget. For some people, that could be enough to make another smaller trip possible.
That's the way I think about maximizing my travel dollar. I'm not trying to spend as little as possible. I'm trying to get as much travel as possible out of the money I'm willing to spend.
And when you make that approach a habit, you may discover that you're able to go on more adventures than you thought your budget would allow.
Get More Adventure From Your Budget
Travel doesn't have to be an all-or-nothing decision between luxury and bargain-basement travel.
There is a very comfortable middle ground. Find a hotel that's affordable but still meets your standards. Choose the airfare that gives you the benefits you actually value. Build travel points over time, shop around, look for discounts, take advantage of free activities and keep an eye out for legitimate travel giveaways.
You don't have to do all of this perfectly. In fact, I think the key is to make it automatic enough that you don't have to think much about it at all.
The reward isn't simply saving money, it's what that saved money allows you to do.
Maybe it's an extra weekend away. Maybe it's another destination you've always wanted to visit. Or maybe it's simply having more money available for the experiences that make a trip memorable.
Maximize your dollar, and you may find that your travel budget can take you a lot farther than you thought.