Domestic travelers in the United States spent $927 billion in 2019. After the sharp decline in 2020, more people are now being vaccinated. The constant increase in travel bookings signal a return to a more normal way of life. Although the monthly personal savings rate has been in the double digits for the past year, remember to implement the following tips so you don’t break the bank during your next trip:
· Redeem sky mile rewards – Frequent travelers often prefer to earn airline miles for day-to-day credit card purchases. Your sky miles account balance might yield a round trip ticket to your next destination.
· All weekdays aren’t created equal – The best days to fly for cost conscious travelers are Tuesdays or Wednesdays depending on the route. The second best are Mondays, Thursdays, and Saturdays. The most expensive days to fly are Fridays and Sundays.
· Early birds and night owls fair best – Early morning and late evening flights are usually less expensive. Be prepared to give up your seat on an overbooked flight for a voucher (if you have the time).
· Book your car before booking your flight - Hertz Global Holdings, Avis Budget Group and Enterprise Holdings sold off inventory during the pandemic. There are more customers than cars and prices have increased.
· Utilize hotel ground transportation – Many hotels offer guests free ground transportation to and from the nearest airport. Pick up your rental car from an off-airport location near your hotel and save approximately 15% in taxes and fees.
· Beware of the hotel mini bar – Weary travelers can be tempted by the readily available chocolate bars, cookies, potato chips, wine, soda, and bottled water. These items are usually marked up 3-4 times the usual price.
· Pack your lunch – When traveling by plane or car, utilizing a brown bag usually creates healthier meals in addition to saving money.
· Before you go, count the cost – Your travel budget may include a combination of the following expenses: airfare, airport parking, rental car (gas), lodging, tolls, food, shopping, and tips (maid service, baggage attendants, bartenders).
· Consider travel insurance – Your decision should take into account whether or not your trip is refundable, the amount of coverage you might already get from your credit card, and where you’re going. Remember! United States-based health insurance policies generally offer coverage only within the U.S.
· Upon return, start saving again – Establish a travel savings account which should also appear as a monthly budget line item to protect against going into debt for your next adventure.
Your adherence to social distancing, hand-washing, and mask wearing has created an opportunity to travel like the good ole’ days. If you’re going to spend money, you might as well get the best bang for your buck.
