Dreaming of an unforgettable vacation but worried about the cost? Lots of us are – and it seems like everything keeps getting more expensive.
- According to NerdWallet’s Travel Price Index Travel, average travel costs are up 4% compared to 2023
- Rental car prices are down 6.2% from December 2023, but are still up 12.3% since December 2019
The good news is that you don’t have to drain your bank account to explore the world. With the right vacation hacks, you can save money without sacrificing incredible experiences.
From choosing budget-friendly destinations to setting flight price alerts, using smart spending habits, and even walking instead of taking taxis, small changes can lead to big savings.
Whether you’re a seasoned traveler or planning your first big trip, these ten vacation hacks will help you stretch your budget further – so you can travel more while spending less!
10 Vacation Hacks That Won’t Leave You Broke
1. Be open on location.
Frugal travel is facilitated by flexibility — especially when it comes to selecting a destination.
Rather than having your heart set on going to say, Paris or Hawaii, you can set your sights to less visited regions such as Eastern Europe. This allows you to take advantage of the cheap flights on offer. But more importantly, you get to explore cities that you may have otherwise overlooked.
This same lesson is also applicable when choosing travel dates. The more flexible you are, the more options you get for finding a good deal on travel fares. You can find wildly different prices just by tweaking your arrival or departure days slightly.
For example, a 7-day trip for 2 from Columbus, Ohio to Waikiki, Hawaii would cost you about $4,000 if you stay at a Resort Hotel and travel on Sundays.
If you switch your departure day from a Tuesday and come back on a Tuesday, you can save about $300.
2. Take note of exchange rates and transaction costs.
If you’re traveling to a foreign country, be sure to look into exchange rates and transaction fees.
It’s a good idea to see where the dollar measures up in other countries before you plan your trip, to see what exchange rates are and make sure you get the most bang for your buck.
It would be worthwhile to get a credit card for the trip if you don’t already have one that has no “foreign transaction fees.” Some locations will inquire if you prefer to conduct the transaction in local currency or in U.S. dollars.
The company handling the transaction may charge a fee for the dollar transaction or may not offer a good conversion rate. Therefore, as long as your credit card company does not impose an accompanying foreign transaction fees, local currency transactions can make more sense.
3. Get enough cash before you embark on vacation.
Apart from the ease of converting to local currency, what if you’re stuck in a place without adequate internet connection and the only means of paying is your card?
Before traveling, inform your bank before and let them know where and when you are traveling.
Also, it’s best to limit your transactions. This means converting only what you need so you don’t have to convert multiple times, but not so much that you are having to convert the excess back to dollars at the end of the trip.
4. Set price alert for cheapest flights.
Prices for flights fluctuate. The time you’re flying, how many seats have been sold, the geographical demand, etc., all have an impact on pricing algorithms.
You might trawl through pricing for hours, refreshing the page to track changes in airfare until you find a good offer. Alternatively, price alerts can automate this process for you.
Using algorithms, price alerts monitor particular flights, routes, and dates depending on your choices and warn you when the price changes. Skyscanner is a good price alert site to watch.
Your search can be specific:
- Cost of a round-trip flight on American Airlines from Los Angeles to Miami
or broad:
- Cost of a one-way trip to New York from Los Angeles.
5. Track your spending.
It’s very easy to have a laissez-faire attitude with cash when you’re on vacation.
After all, you have worked so hard, and you deserve to give yourself a treat. But remember that reality will be waiting for you when you get back home in two weeks time.
As such, you have to be intentional with how much cash you want to spend. While you may be on a strict spending regime, always make provision for miscellaneous expenses. This gives you some elbow room to work around your budget.
6. Live like a local.
Follow the adage “do as the locals do” once you’ve arrived at your vacation spot.
That necessitates a trip to the local market. Shopping at the local market for breakfast saves a ton of cash on meals. Additionally, you can have fun exploring the city’s distinctive culinary flavors.
When choosing a restaurant, stay away from tourist spots at all costs. Avoid the main section of the city and instead look for restaurants on side streets that are crowded with residents. A packed restaurant usually points to delicious food.
8 Smart Ways to Save Money on Vacation
7. Walk.
Renting a car may be expensive and inconvenient.
Using cabs will definitely increase the cost of your holiday. By walking or using public transportation, you can also get the vibe of the local culture and environment.
You experience the city up close and discover all kinds of charming things that make your vacation destination unique.
8. Maximize free days.
Many museums and vacation attractions offer a free visit day (sometimes on a weekly basis).
Being strategic with your sightseeing trips can allow you to enjoy a city’s cultural highlights for next to nothing.
9. Plan big expenses in advance.
Since you intend to fully savor whatever city you’re visiting, it helps to plan out your “big spends” in advance.
Make a list of attractions you would like to see and make the appropriate plans. This will help you keep your spending on track and help to organize your itinerary in a cost- effective way.
10. Travel light.
Another overlooked strategy among the vacation hacks is to travel light. It pays to be a minimalist when traveling!
You won’t pay to check your bag in, or spend time waiting to claim your baggage. Plus you have no fears about losing your luggage.
Packing light also gives you flexibility, allowing you to move around with ease.
If you can’t check into a hotel immediately, you have no problem moving around. It is also easier to take public transport when you travel light rather than taking a cab.
Vacation Hacks That Save: Travel Smart, Spend Wisely
A memorable vacation doesn’t have to come with a hefty price tag.
By staying flexible with your destination and travel dates, being mindful of exchange rates, and setting price alerts for flights, you can significantly cut costs before you even take off.
Once you arrive, small habits like tracking expenses, eating where the locals do, walking instead of taking taxis, and maximizing free attractions can stretch your travel budget even further.
The key is to plan ahead while staying adaptable—this allows you to enjoy the best experiences without unnecessary spending.
With these smart vacation hacks, you can explore the world without breaking the bank!
Editor’s note: This article was originally published Jul 18, 2022 and has been updated to reflect market and economic changes.
