Tips on how to budget for traveling
There’s no lie to the belief that travel expenses can add up. From hotels and flights to activities and food, how do I make travel more affordable? Below are some tips for managing travel expenses and budget for trips that I like to use myself.
Afford higher budget trips using payment plans.
Especially when it comes to big trips, I often book with companies that allow for payment plans. One of my favorite tour companies that allows this is EF Ultimate Break. They also have a few sister companies with similar models.
Anything that allows me to put down a deposit and make payments along the way is a plus in my book. I’ve also put bigger expenses such as flights on payment plans through Uplift (now Flexpay) or Affirm. There is interest involved, but it’s fixed and factored into your monthly payment plan. Just make sure whatever the monthly amount is fits into your regular budget.
Book through a tour company
One of the other perks of traveling with a company such as EF is that they often get discounted rates. Overall, this makes their trips a more affordable option than trying to book it all yourself. They can get group rates on hotels and discounts on flights and activities. For example, the cost of five extra activities on my trip to Belize cost me the same as one of the activities would have been if booked privately. This makes group travel often a more affordable option for those big, eventful trips.
If you’re unsure of when to book with a group or not, check out my blog on how to plan a trip on your own.
Reserve now/pay later to make payments manageable.
Similar to payment plans, I try to book hotels or activities that are Reserve Now, Pay Later. This allows me to keep shopping for other deals while not having to worry about losing a booking in most cases. It also gives me extra time past making the reservation to pay for it or save up. By the time the trip comes, I have either set aside the funds or paid on my own leading up to my arrival. By doing so, travel is made more affordable in the longterm.
Use credit card points to afford flights and hotels.
Note: I am not affiliated with or sponsored by Capital One. I personally use the card and I may get a bonus from approved referrals at the link below.
I currently have the Capital One Savor One card. This card gives cash back for all purchases, with the highest being dining and entertainment. I try to put most purchases on the card to accrue points that I can later use in their travel portal. My best advice if you go this route is to make sure you find a card that works for you, and only spend what you know you have the budget in your bank for. I’ve previously saved up to get a discount on plane tickets, and the points can also be used toward hotels and car rental.
If you’re interested in applying, here is my referral link for their Savor Card: https://i.capitalone.com/J8AbdE3qX
Many cards exist with similar cash back options. Utilize the best method for yourself, and shop responsibly.
Equip price tracking tools to book at the most affordable times.
Another perk of my Capital One card is that I can track flight and other travel prices through their portal. Even if I don’t book through the travel portal, I sometimes use this tracking tool to guide the best time for me to buy my tickets.
These types of tracking tools exist on many different travel-related sites. Some other tools I use include:
- Expedia
- Google Flights
- Hopper
- Skyscanner
Plan your trips in advance.
When possible, I try to plan trips as far in advance as possible. This goes hand in hand with my payment plans. The further out I book, the smaller the monthly or bi-weekly payments are. This also helps with being able to save up for and plan the extras for the trip itself.
For example – each of my group trips I’ve booked over a year out. I made my deposit during Black Friday with EF Ultimate Break. They have their own payment plans, or the option to make a higher deposit and pay by a specific end date. By planning it out that far, the payments and deadline are much more manageable.
Be flexible with your budget and plans.
We all have our ideas of dream vacations. I love the idea of a luxury experience everywhere I go. However, I know that’s not usually a reasonable expectation. I’ve learned to be more flexible with what I want out of a trip, including where I stay.
When I went to Portugal solo, I wanted to book with a hotel rather than a hostel for privacy. With the hotel rates, the best compromise was to book a private ensuite room in a hostel instead. This honestly ended up working out really well for me!
I’ve also learned to be more flexible with other items – where I plan to go out to eat, balancing tours vs. solo experiences, etc. This helps manage not only expectations, but my budget as well.
Afford expensive destinations by traveling in the shoulder seasons.
As long as your plans don’t revolve around a specific time of year, one of the best ways to save money is by traveling during shoulder seasons. I’ve done this a few times in the last couple of years. For example, I traveled to London in April and Portugal in October. Not only do you benefit by usually having fewer crowds, you can also save money. This is especially useful in destinations that can be on the more expensive side, like parts of Europe in the summer. If you can be okay with certain weather conditions and other minor inconveniences, you can make your trip that much more affordable.
Shop sales for the most affordable travel options.
Like I mentioned previously, I often book my EF tours in advance and one of the best times to do that is during their Black Friday sale. They also have sales throughout the year, and will price match up to a certain time after initial booking if the cost of the tour goes down. Additionally, repeat travelers receive a new discount code after every trip!
In addition to EF’s sales, I use email subscriptions and more to keep up with other sales. These can be sales on airlines, tours, and more. One of the best times of year to book is Travel Tuesday, a big time for discounts specifically in the travel industry. This comes the Tuesday following Black Friday, with some companies announcing deals in advance. These sales are especially useful if you have flexibility in timing or destination.
Make extra income to put toward travel.
While I do work full time, I also work a second job. Since I work remote, I have the privilege of being able to offer in-home pet-sitting services. For the most part, this gives me flexibility in availability and the option to say no if a job doesn’t work for me. That being said, any extra income I make goes directly into savings and/or toward travel expenses. This works notably well with my payment plans and reserve now, pay later bookings.
Some other options I’ve had success with for more minimal extra income are selling old items on marketplace, completing surveys through Mechanical Turk, and the Amazon Affiliate program.
Utilize partner plans to afford flights and hotels.
If you have loyalty to particular airlines or chain hotels, I’d recommend looking into any of their partner programs. These are programs that help you earn miles and more with your preferred brand by spending other places. For example, if you fly often with Delta, you can earn miles with Uber and UberEats, as well as their SkyMiles Dining program.
Many airlines also work as part of an alliance that allow you to earn miles for traveling with other airlines in that alliance. Be sure to register for and take advantage of the free mileage programs and add your user information to your flights. This can help you maximize your miles earned, making them more useful at an earlier timeframe than relying solely on taking flights to earn. In the long run, you can afford to travel more if you’re paying less per flight or hotel.
Travel Can be Affordable
There’s no one solution for affording to travel. I understand that everyone has different expenses and income. While you may not always be able to afford the “dream trip” you’ve seen online, traveling on a budget is possible. With some saving and strategy, many can afford to travel more.
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