May 11, 2015

 

 

 

Plan Now for Your Summer Vacation

 

Waiting until the last minute to plan your vacation often results in higher costs and increased stress. Instead of winging it, use these tips to plan ahead and save on your getaway.
 
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.

 

Emily Starbuck Crone, NerdWallet

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