May 11,
2015
Plan Now for Your Summer Vacation
Choose your destination
Every travel destination typically has a high season (i.e., the
“expensive season”), and a low season, when it is less expensive and not as
crowded. Some places also have an in-between “shoulder” season. As you select
your destination, learn the peak travel times for that area. If you are trying
to save, visit during the low season to enjoy bargain hotel rates and airline
tickets.
The trade-off is that popular attractions may be closed or hours limited.
Before you book, check the weather. In some parts of the world, the low season equals rainy season.
Booking travel
As you begin to research travel options, shop strategically and hunt for
deals. Use websites like Hipmunk and Kayak to compare airline
and hotel rates. Airlines frequently run special promotions, so follow your
favorite airlines on social media and sign up for their email lists so you do
not miss a deal.
Be strategic about when you book and when you travel, too. One online comparison site found the most economical time to buy tickets is 47 days before your flight. Avoid booking in the final two weeks when prices skyrocket, although some airlines offer steep discounts on last-minute fares.
Saving for your trip
Get a clear picture of how much you expect to spend, from big-ticket
items like plane tickets and hotel rooms, down to your daily food budget and
admission to attractions. Do not forget about shopping money and transportation
costs, whether you use the subway or a rental car. Another study shows the least
costly days to fly are Tuesdays, Wednesdays and Saturdays. Fridays and Sundays
are most expensive.
Once you know how much money you need, start saving as soon as possible so you will be able to pay for the trip in full. Avoid using credit cards and going into debt unless you know you can repay the balance soon after your return.
It helps to open a separate travel savings account so you are less likely to dip into that money for day-to-day expenses.
If you have a rewards credit card from a financial institution like AltaOne Federal Credit Union, redeem rewards for free travel. If you have a card with a low point balance, start using it well in advance of your trip for everyday purchases to accumulate points, then pay it off immediately.
Travel can be expensive, but if you plan wisely and save, you’ll be on
your way to a relaxing getaway.
