How to —

Save Money on Vacation (And Still Have A Good Time)

As summer starts to wind down and kids head back to school, you may be planning one last family vacation to end the season. After the year we’ve had, lots of people are eager to get back out on the road and make some memories. If you’re like most people, it may seem a bit harder to plan your family vacation this year, not only because you have to do extra research to find a place that will allow tourists, but also because you may not have enough time off to follow safe travel guidelines or are struggling with a smaller budget.

Don’t worry, we can help! It’s easier than it sounds to stay on a budget while on vacation (and still have fun). We’ve compiled a list of quick and easy money saving tips you can follow to avoid stressing when you’re supposed to be having fun.

Saving Money While Choosing a Vacation Destination 

Tip 1: Research exchange rates.Currency exchange rates change constantly due to a variety of factors, such as political or economic instability or a rise and fall in the market. A country with great exchange rates might be the perfect place for your next family vacation. However, there are some things you’ll want to keep in mind as you plan.Your safety is the number one priority when you’re traveling. You don’t want to go to a country with heavy crime or serious political issues simply because the exchange rates look good to you. You will be more worried about keeping everybody safe and won’t be able to enjoy your time there.

Besides the exchange rates, you’ll also want to be aware of currency exchange fees for your chosen currency. It may seem more convenient, but you’ll end up paying more out of pocket for convenience in the end. Find a way to exchange some of your money before you get to your destination or see if the places you’re visiting will accept American money.

Tip 2: Research Alternative Vacation Destinations.You may have had your eye on that beautiful overseas destination for a long time, but this year is probably not the right time for it. With travel restrictions, labor shortages, rapidly changing COVID safety rules and more, it can be incredibly hard (and expensive) to plan a trip to another country. Instead, you can try tons of local travel options, including a staycation, a trip to a family member’s house, or a road trip across the country. Local tourism has taken a huge hit this past year and the possibilities of local travel are endless. You could even stumble upon a local treasure you never noticed before.

Tip 3: Plan for the Low Seasons.Another great way to save money on vacations, whether you’re heading to another state or out of the country, is to plan travel during that destination’s low season. If you plan to arrive at a time when not many other people will be there, lodging, food, and attractions will be priced lower, and you won’t have to push through thousands of people to get the best views or wait hours to get food. Planning mid-week vacations are also a great way to save money as many airlines and hotels offer special discounts for non-peak travel.

Saving Money for a Vacation Budget 

Tip 1: Sign up for newsletters and price alerts. Now that you’ve decided where to go, you’ll need to figure out the best way to get there (and the cheapest). For many people, this could mean flying, so make sure to sign yourself up for a cheap flight newsletter so that you’re aware of any price drops. You should also consider signing up for price alerts on everything else you’ll need during your stay, like hotels and transportation. This way you can start to plan your budget around the essentials and have a clearer picture of the money you’re working with for the fun stuff. If you know this vacation will have expensive must-see items, make sure you start budgeting a year or more in advance so you can do everything you want to do once you’re there. Availa Bank has a variety of savings accounts to help you get started.

Tip 2: Loyalty Programs Can Save You Money. If you’re a frequent traveler, signing up for a loyalty or rewards program through your credit card can greatly benefit you while on vacation. Depending on the credit card company you use, you could get everything from cash back to free airfare, car rentals, seat upgrades, and more.

Tip 3: Decide Between Nonrefundable or Refundable Booking. If your travel plans are not set in stone, you should consider a refundable booking. With the uncertainty of the past year, it’s important to prepare for unplanned events that could derail your vacation plans. It’s better to pay a little extra up front and get your money back in the event of a necessary cancelation versus paying less and getting nothing back when you need to cancel.

Tip 4: Don’t budget for unnecessary items. Plan ahead. If you’re traveling for a short period of time and it’s not for business, it’s really not necessary to purchase extras like an international phone plan. There are plenty of apps that utilize Wi-Fi services, or you can look into using a VPN service to reach people when you need to. You should also avoid using airport ATMs. The fees are high and can quickly chip away at your budget if you’re not careful. You can plan ahead by alerting your bank to any national or international travel and carrying the appropriate amount of cash in the event of an emergency.

Saving Money While Booking Your Hotel 

Tip 1: Look for bookings in Incognito Mode. This prevents many booking websites from gathering your search data and bumping up the prices once you’re ready to commit to a destination.

Tip 2: Negotiate with your chosen hotel directly. You’re often able to find better deals by talking to the hotel alone instead of going through various booking websites. Always try negotiating with the hotel directly first. If you’re a frequent traveler, you’ll probably want to join a hotel rewards program. These programs can offer you some added perks as you gain more points, such as late check out permissions, a free stay at a hotel, free room service breakfast and more.  

Tip 3: Look for Added Amenities. It may be beneficial to you to pay attention to the extra amenities offered by any given hotel, such as laundry facilities, vending machines, fitness centers, pools, etc. All of these extras could help you save money the longer you stay in one place, especially if you packed light.  

Tip 4: Don’t book a hotel. Sometimes the cheapest and best thing to do is to not book a hotel at all. There are several alternatives, such as hostels, that offer a cheaper living space if you’re okay sharing with others.

If the weather is nice, you can also try camping. Many campsites charge a small fee to stay each night and you’ll have already packed everything you need for your stay. You may have to save some money and buy camping supplies a little at a time, as sleeping bags, tents, coolers, and other essential camping tools can get expensive, but the more time you spend camping, the more these purchases pay for themselves.

Saving Money When Packing 

Tip 1: Borrow luggage when you can. If you don’t travel often, it might be in your best interest to borrow luggage from a family member or friend. Luggage itself can get expensive and cost you money that you don’t really need or want to spend.

Tip 2: Pack Light. Always pack light, with only about a week’s worth of clean clothes. You’ll want to make sure the clothes you bring are versatile and appropriate for the weather. Wearing clothes multiple times not only saves you time doing laundry later, it makes it easier to decide what to wear each day which means you can spend more time doing the fun things.

You can make your suitcase even lighter by measuring out travel sized soap containers. If you end up packing light enough, you may be able to avoid checking a bag on an airplane altogether and stick with a carry-on.

Even if you’re not traveling by plane and are driving instead, less luggage will make the trip more comfortable and leave room for some souvenirs, snacks, and leg space. You might even improve your gas mileage with less weight dragging the car down.

Tip 3: Carry a full change of clothes & essentials in your carry on. If you’re traveling by airplane, you know that losing your luggage is a possibility. You may not be able to control where your luggage will end up, but you can prepare for the worst. It’s important to remember a full change of clothes in your carry-on bag, along with essentials like toothpaste, a hairbrush, and soap in case you need to freshen up before your luggage is found. Being prepared will also help you save money and avoid expensive airport prices for basics like a t-shirt and socks.

Saving Money While Shopping 

Tip 1: Don’t buy the first souvenir. When you go into any gift shop, the prices are likely to be outrageous, especially if they’re located in a tourist hot spot. Don’t just buy the first thing you see, look around at several other stores and compare the prices so you can find the best deal (and the coolest souvenirs). You can also avoid tourist hot spots altogether when you shop and go where the locals go. You’ll be supporting local small businesses, prices will be cheaper and you may find something unique beyond the typical keychain or fridge magnet.

Tip 2: Don’t buy essentials while on vacation. It’s one thing if you lose your luggage and have no other way of getting clothes, soap, etc. but if you’re buying bottles of shampoo or sunscreen at the airport just because you can, you’re wasting your money. Remember to pack travel sizes of everything you might need before you head out the door.

Saving Money While Eating 

Tip 1: Eat the free continental breakfast. If your hotel offers a free complimentary breakfast with your stay, don’t go out to eat every morning, stay in. Since the breakfasts are often only offered early in the morning, you’ll have an excuse to get out of bed earlier to see the sights. Many hotels have a wide selection of breakfast foods to choose from so you’re not eating the same thing every single day if you don’t want to.

Tip 2: Book a place with a kitchen. If you’re staying in an AirBnB, this tip will be much easier to follow than at a hotel, but there are plenty of hotel suites available with working kitchens (pots and pans included). This way you can save some money by spending a few nights cooking a simple meal in your room instead of eating at an expensive restaurant. If your hotel only has a mini fridge and microwave, you can buy premade sandwiches or microwavable food from the grocery store to eat and store the leftovers in the fridge for another day.

Tip 3: Bring Snacks. Whether you’re on a road trip or traveling by airplane, it’s not a bad idea to pack some snacks. With plenty of options on hand you won’t be as likely to purchase a huge meal or expensive gas station/airport snacks and can eat whenever you like.

Tip 4: Skip the fancy 5-star restaurant. This might be controversial, but you don’t have to go to a fancy restaurant at your vacation destination to experience the local cuisine. Often there are fantastic street vendors or food trucks that have some of the best food at affordable prices. You’ll be eating like a local in no time.

Tip 5: Eat a big lunch, not dinner. Lunches are often lower priced than dinners, so you can order more food for less money. This, combined with your selection of snacks, will keep you full and keep you away from pricey dinner menus. You can also keep the leftovers and eat them on another night you don’t feel like going out on the town.

Tip 6: Bring a reusable water bottle. It doesn’t matter if you’ll be spending a lot of time outdoors or not, you’re going to have to walk a lot on your vacation to see all the sights, which means you’ll need to hydrate. Many places around the world have public water fountains you can utilize for fresh water without shelling out a few dollars every time you need a drink. If you’re having trouble finding free water, there are several apps available to download on your phone that can help you find something near you.

How to Save on Tourist Attractions 

Tip 1: Try some free or cheap walking tours. If you’re able (and want to) walk, there are plenty of free or cheap walking tours available. You’ll be able to experience the charm of your destination without the rush of a tour bus and see things like the locals do.

Tip 2: Find free museum days. If you’re interested in seeing some museums but aren’t a fan of the high admission price,research and set an alert for free or reduced admission days at your top choices. Then you can plan your vacation around those dates.

Tip 3: Browse Community Calendars. If you would like to find cheaper things to do that aren’t a tourist trap, consider looking into local community calendars. These events often feature local talent and can be free or very reasonably priced.

Tip 4: Utilize Coupon Websites & City Cards. Online coupon websites are always likely to have great group rates for any activity you want to do in your city of choice. Just do some research before you go on vacation. You may also want to see if the city you’re traveling to offers city cards with free or reduced rates for many local attractions. This will help you save money on transportation AND admission.

Tip 5: Talk to the Hotel Concierge. Hotel concierge staff often know a lot of information about the area since many live locally. They are usually experts on the best cheap food or the best free attractions. Not only will you be saving money, but you’ll be supporting small local businesses as well.

Save Money on Travel 

Tip 1: Weigh the cost of transportation against hotel costs. When booking a hotel, sometimes you can get caught up in the great deals and not realize that while the hotel may be cheaper, it’s 30 miles away from all of the things you would like to do, costing you more money in travel expenses. On the flip side, maybe you splurged on the hotel costs to be in the center of town but didn’t realize that transportation would also be more expensive simply because of your location. Either way, it’s important to try and estimate the total cost of your transportation vs the costs of lodging and decide which one is more important to you. Sometimes in a bigger city it is simply less stressful to book in town and ride in a taxi, bus or subway than try to save money by booking a hotel in a nearby town and driving everywhere in a rental car.

Tip 2: Utilize public transportation options whenever possible. If it is safe, try riding the public bus system. Several cities offer free options to major tourist destinations. You can also try renting a bike or scooter to get around faster if your planned destinations aren’t too far from each other. Subways, cabs, and ride-booking services like Uber & Lyft can also be good options in a pinch but can get expensive, so be aware. If you’d rather rent your own car, compare the prices first. To save a little more cash while you drive, apps like GasBuddy can help you find the cheapest gas in your area.

Continue Budgeting for Vacation 

Now after you’re done traveling and come home, it’s just about time to start planning for the next vacation. If you noticed you were worried about the cost of each item while you were away or didn’t have as much money as you would have liked to spend on souvenirs, remember that. Factor that into your decisions as you create a budget for the next vacation. Planning in advance will keep you from making the same mistakes and give you plenty of cash for all those things you’ve been dying to see and do. Every month, make sure a portion of your paycheck goes to your vacation fund by setting up a savings account. It’s easy, just call an Availa banker near you today! Soon you’ll be on your way to the next destination with plenty of money in hand.