My best advice on managing travel costs is also the simplest
As the cost of travel spikes, these 12 moves prove you have more control over price than you realize
Hi there, my friend.
More than a third of Americans say they don’t plan to travel for leisure this summer, according to a new LendingTree survey.
The biggest reason?
It is just too expensive.
Unfortunately, that’s not likely to change anytime soon. Sure, gas prices have fallen significantly in the past month, but increased demand around the July 4th holiday could send them higher, as could a re-escalation of the war in Iran. However, Delta Airlines CEO Ed Bastian told Fox Business that gas prices aren’t even the biggest driver of higher prices.
“People ask me all the time – what’s happening with prices?” Bastian told FOX Business’ Maria Bartiromo in an exclusive interview on Tuesday. “Prices will come down when we can fly more, when there’s more supply, it’s a supply and demand. Right now we’re kind of logjammed.”
“There’s not a lot of supply we can bring in because the air traffic control system is congested. As you open up the skies, and you bring more flow, that’s going to help bring pricing down and enable us to bring more people to more places,” he said.
That’s not great news. The shortage of air traffic controllers is not a new problem, has caused issues at major airports in the U.S. in recent weeks, and probably isn’t getting resolved anytime soon.
So what is a traveler supposed to do?
My best advice for managing travel costs
As I always say, you have more power over your money than you think you do, and the travel space is no exception. No, you can’t open up the Strait of Hormuz or immediately hire, train and put to work thousands of new air traffic controllers, but there are plenty of things that you can control.
My best advice is really simple: Be flexible.
Generally speaking, the more fixed your plans are, the more you’ll often pay. Flexibility gives you options, and options often save money.
Of course, you can’t always be flexible. For example, you’re probably not taking your school-age kids out of school for a week in October to take advantage of those amazing airfares for a family European vacation. Nor are you going to be super eager to have your elderly parents change planes multiple times with long layovers in between just to get a cheaper airfare.
The good news, however, is that there are plenty of ways that you can be flexible to potentially help reduce your travel costs:
Fly a day or two earlier or later. Moving your trip by even 24 hours can sometimes save hundreds of dollars.
Be flexible on airports. Flying into or out of a nearby airport can dramatically cut airfare. That doesn’t mean you need to drive for hours to save a few bucks, but if you’re open to looking at multiple airport options, you can sometimes find real savings.
Travel at off-peak times. Early-morning flights and off-season trips are often cheaper and less crowded. That 4 am wakeup may not be fun, but it can help you save.
Choose the destination after finding the deal. Instead of deciding where to go first, see where the bargains are and build from there.
Take the route with a layover. If you’re willing to put up with it, a longer travel day can sometimes mean a much lower fare.
Mix and match airlines. Booking separate outbound and return flights can sometimes be cheaper than a traditional round-trip ticket.
Use public transit when practical. A train or bus from the airport can be far cheaper, and sometimes even faster, than a taxi, rental car or rideshare.
Be willing to walk or ride a bit. Staying outside the main tourist area often costs less without being overly inconvenient, especially in a city with great public transit.
Consider a vacation rental home or apartment. Having a kitchen can save a surprising amount on meals. My family has done this many, many times. A quick trip to the grocery store at the start of the trip can really keep costs down.
Leave some room in the itinerary. Overplanning can lead to expensive bookings and missed opportunities. A little flexibility lets you take advantage of better deals and unexpected discoveries.
Pack light. Traveling with only a carry-on gives you more flight options and helps you avoid baggage fees.
Rent the car from somewhere other than the airport. Taking a short shuttle, train, or rideshare ride can help you avoid hefty airport surcharges. In my book, I mention a Nerdwallet report that says you can save about 25 percent by renting away from the airport.
That’s a lot, right? And it is far from an exhaustive list.
Perhaps above all, remember this: You don’t have to treat your original plan as sacred. Weather changes, attractions close, flights get delayed, and new opportunities pop up. Travelers who adapt tend to spend less time frustrated and more time enjoying themselves. Those changes might even lead to savings, and who couldn’t use more of those these days?
Ask yourself these questions
Every traveler is different. One person’s no-brainer compromise is another person’s line they’d never cross.
So how do you decide what you’re willing to do for lower travel costs? Ask yourself some of these questions…
What parts of this trip do I care about most, and where am I willing to compromise? A travel budget and itinerary should be a reflection of what matters most to you. If you ruthlessly prioritize what matters and slash spending on stuff you don’t care much about, it can open up a lot of possibilities. Just make sure to communicate your thoughts with the other people you’re traveling with. Otherwise, feelings can get hurt and tensions can rise.
How much uncertainty am I comfortable with? Some travelers love booking things at the last minute. Others sleep better with everything locked in months ahead.
Would I rather spend more money or more time? This question comes up constantly with flights, transportation, accommodations, and activities. There’s no wrong answer to this question, but it is important to consider.
Again, this is far from an exhaustive list, but it can at least help you start a conversation with yourself and those you’re traveling with. That communication is crucial, especially when you’re traveling with a group. It may not be easy, but talking through what people want and expect from a trip well before you ever leave can help avoid headaches once you arrive at your destination.
Got any travel tips to share?
Let us know in the comments below.
Until next time!
Matt
Such excellent tips for saving money on travel!