Think about the last time you traveled. Do you remember how much you spent? Did you set a budget? Did you go over that budget? Or did you stay diligent and manage to enjoy your trip while staying on track?
If you want your next adventure to be fun and financially stress-free, here’s what I’ve learned.
Psst... These tips work for any type of vacation... even a staycation right here in the Carolinas!
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Of course, you’ll research where to go but when you go matters, too. Traveling during “shoulder season” (just before or after peak travel times) can save big on flights, hotels, and activities.
QUICK TIP: Once you’ve chosen a location, search “free things to do in [destination]” and “hidden gems in [destination].” You’d be surprised how many free festivals, walking tours, or local markets you can check out. |
I'm sure you know flight prices are unpredictable. They are changing daily but if you notice, flights are cheapest during certain times of the year if you book early enough.
According to Expedia® 2025 Air hacks, the cheapest day to book a flight is Sunday, not Friday. The savings are around 6% for domestic travelers and 17% for international travelers. Read the full article here.
Other smart flight tools to try:
Take a look at the checking and savings accounts you have and think about which account you touch the least. (Hopefully, you have one for Emergency Savings already, so don’t include that one in your list. If you don’t, make sure to also read up on How to Create an Emergency Savings Account.)
Don’t have an account that could work for this? Easy fix! You can always check with your financial institution about opening another account you can dedicate to saving for your trip (or another specific purchase) But here’s the kicker – make sure you look for accounts that are free to open and don’t have any maintenance fees. The last thing you want is to get charged to save!
(Psst… a lot of credit unions, like Skyla, have free checking accounts and savings accounts without any pesky fees.)
QUICK TIP: If you have a bit of time to save, look into opening an account that will earn money for you. For example, Money Markets have higher returns on savings and will earn you higher interest on the money you have in your account compared to standard savings account. However, accounts like a Money Market, typically have minimum deposits you should look out for before opening. |
If you prefer not to open an account (or use an account you already have) and would rather deal with cash - it's cool. Do it the old fashion way with a piggy bank to stash the extra cash you have. (Psst... don't forget, having your savings in cash won't earn you any interest like keeping that money in a savings account would.)
Whichever method you choose, make sure to treat this savings like a bill that needs to be paid. This way you're forcing yourself to save for future goals.
Skyla offers simple, straightforward savings solutions where there's no monthly fee and you’ll earn a little bit of interest as long as your balance is over $5. Yep! I'm talking about Primary Savings. Plus, you have a whole network of CO-OP Shared Branching, so you can truly bank wherever you need.
You can also take this Savings Style Quiz to determine your style and what product would be best for your specific needs.
Many financial institutions offer reward points when using their rewards credit card. If you're in the market for a credit card, do some research on which card would be the best fit for your needs. Some credit cards offer cash back, discounts, or rewards points that can be redeemed.
QUICK TIP: Have a card that offers cash back? Save up that “free money” to put towards your credit card statement after your trip to cover some of the transactions you made along your trip! |
Psst... Rewards are great if you pay your balance off monthly. Don’t go into debt for “free” perks.
In my experience, especially in my grad school days when I was on a tighter budget, I was able to find last-minute deals when traveling to New York, Nebraska, and Chicago to visit family and friends. Here's what I used back then (and what I still use today)
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Traveling in groups with family and or friends? Check out vacation rental marketplaces like Vrbo. Cooking some meals can save hundreds.
Of course, you want to enjoy your entire vacation and see the sights, eat the food, and do the things you’re excited to do. However, you don’t always have to pay an arm-and-a-leg just to do that.
Decide ahead what’s worth paying extra for:
QUICK TIP: Use apps like Too Good To Go or EatWith to try local food on a budget and even meet locals |
I know I just harped on staying within your budget but the #1 rule you should follow is to have fun! If that means spending a lot of money on a silly souvenir, buying last-minute tickets to an excursion, or whatever else you feel would make your vacation that much more memorable, go for it! You know yourself way better than I do, so just remember to save a little extra if you plan to spend big.
In my experience, the number one thing I noticed when I started traveling on a budget is paying attention to where and what my money is being spent on. You'll become aware of your spending habits. If you're having a hard time building a budget, then let's take a step back and cover everything under the sun about creating a budget.
To help you on your journey to tackle budgeting, download the Smart Budgeting Guide to start reaching those financial goals. Enjoy!