dearJulius.com

$hide=home

5 Strategies to Save Money on Trips that Don't Require Cutting Corners

When I traveled by myself in my 20s, I used to stay in hostels and cheap out on flights to save money. Now, I've found a better way.

5 Strategies to Save Money on Trips

By Sarah Li Cain, Business Insider

  • When I traveled by myself in my 20s, I used to stay in hostels and cheap out on flights to save money.
  • Now that I'm older, I've found better strategies to save on travel without cutting corners at every opportunity, like using a high-yield savings account for my travel fund and taking advantage of my credit card's travel insurance.
  • Visit Business Insider's homepage for more stories.

As someone who has traveled by herself in her early 20s, I know a thing or two about saving money while overseas. There were many times where I've eaten at street stalls, stayed in dodgy hostels, and taken alternative forms of transportation instead of flying to and from destinations.


However, as I've gotten older, there are so many more products and apps out there that make it so much easier for travelers to save. There are ways I've been able to create a budget-friendly vacation itinerary without travel hacking.

Here's how. 

Open a high interest savings account to save for travel

Back when I started traveling over 14 years ago, savings account aren't what they are now. Back then, I was lucky if I earned any interest, but now there are so many online savings accounts that offer really competitive rates.

I decided to open a high-yield savings account a few years ago to take advantage of its high interest rate. I wanted an account specifically earmarked for travel - that way I knew the exact amount I am able to spend on a trip. Considering I was just going to let the money sit there, I figured I might as well earn some interest on it.


Use a credit card with no foreign transaction fees

Traveling within the US isn't a big deal, but fees can really add up when you're traveling overseas. I used to pay upwards of 3% in foreign transaction fees plus any currency exchange rate markup. As someone who tried to use as many credit cards as possible when traveling, those fees really added up.

Now, I make sure to take a card that doesn't charge any foreign transaction fees - my favorite is the Chase Sapphire Preferred. That way I'm only charged for the actual purchase and hope that the exchange rate works in my favor.


Check which cards have travel insurance

I remember when one of my friends passed away right around the time I was about to go on a trip to Southeast Asia. Not only was I devastated over the loss, but I lost hundreds of dollars because I couldn't get the money back for my flights and hotels. I regret not purchasing travel insurance, but hindsight is 20/20.

Now, whenever I book travel, I make sure to use a card that offers some sort of travel insurance so I don't have to purchase additional policies. Again, I use my Chase Sapphire Preferred card because I get things like trip cancellation and baggage delay insurance as long as I book the travel on the card. Luckily, I haven't had to use any of these so far, but I feel good knowing it's there if I need it.


Use someone else's hotel reservation

I've often used the usual discount booking websites like Booking.com and Hotels.com to save money when booking accommodation. I've also tried out other apps and had extensive conversations with other travelers to find the best deals for hotels and hostels.

One traveler I met told me about a website called Roomer Travel, which allows people to post their non-refundable reservation on the website and transfer it to someone else at a steep discount, hoping to get some money back for their otherwise nonrefundable booking.

When I know I'm headed to a destination, I'll set a budget and then search for a room based on my travel dates and area I want to be in. I've saved hundreds of dollars this way, and Roomer helps you double check to make sure the reservation is transferred to your name so you're not paying for something you can't use.


Research how to get to and from a destination cheaply

If you can be flexible in your travel plans, you can save some money by traveling to and from different destinations on public transportation.

Of course it depends on your comfort level and how long you want to be in transit, but traveling by bus or train can be a really great learning experience. A few years ago I decided to travel by boat in Malaysia, and ended up getting an invite to stay with a local family for a few days - it was the highlight of my trip.

To figure out approximate costs, I like to use Rome2Rio or Google Maps to get a few options and an idea of what I might expect to pay.

Yes, booking a vacation can cost a lot of money, but it doesn't have to.

5 Strategies to Save Money on Trips


Sarah Li Cain
Sarah Li Cain


Sarah Li Cain is a finance, real estate, and travel writer whose work has appeared in places like LendingTree, KeyBank, Stacking Benjamins and Her Money podcast with Jean Chatzky.

She's also the host of Beyond The Dollar, where her and her guests have deep and honest conversations about money that affects people's well-being. In her spare time she enjoys hiking, yoga, and spending time with her family.
Follow her on Twitter: @sarahlicain 

COMMENTS



|Featured Content_$type=three$c=3$l=0$m=0$s=hide$rm=0


Made with in NYC
Name

Abu Dhabi,2,Adventure,32,Adventure Travel,643,Advice,73,Africa,26,Air Travel,150,Alabama,5,Alaska,21,Alberta,1,America,77,Amsterdam,2,Anguilla,3,Antarctica,7,Antigua,3,Argentina,15,Arizona,20,Arkansas,2,Armenia,1,Asia Travel,47,Athens,3,Austin,8,Australia,92,Austria,13,Azerbaijan,1,Bahamas,13,Bangladesh,8,Beach Travel,58,Belarus,1,Belgium,9,Belize,15,Bermuda,5,Bhutan,10,Blue Lagoon,2,Bolivia,3,Botswana,3,Brazil,38,Brunei,1,Budget Travel,97,California,110,Cambodia,4,Canada,81,Caribbean,45,Caribbean & Mexico,5,Chicago,7,Chile,7,China,21,Christmas Travel,14,Clothes,1,Coliseum,1,Colombia,18,Colorado,33,Columbia,3,Connecticut,4,Corporate Travel,2,Costa Rica,13,Country Travel,249,Croatia,15,Cruiser Travel,16,Cuba,18,Cultural Travel,66,Czech Republic,6,D.C.,2,Delaware,1,Denmark,12,Desert Travel,1,Dubai,15,East Africa,4,Easter Island,1,Easter Travel,1,Eco Travel,18,Ecuador,7,Egypt,4,Emirates,1,England,13,Estonia,2,Eswatini,1,Ethiopia,2,Europe,110,Fall Travel,43,Family Travel,128,Faroe Island,1,Father's Day Travel,1,Featured,22,Features,406,Festival Travel,25,Fiji,6,Finland,16,Florida,69,Food,8,Food and Drink,4,France,37,Free Travel,3,French,6,French Polynesia,5,Galapagos,3,Georgia,14,Germany,18,Ghana,2,Greece,37,Greenland,1,Guatemala,2,Halloween Travel,9,Hawaii,53,Hayden Panettiere,1,Hiking Travel,63,Holiday Travel,28,Holland,1,Honeymoon Travel,128,Hong Kong,13,Hotels,71,Hungary,3,Iceland,41,Idaho,5,Ideas,11,Illinois,13,Independence Day Travel,1,India,36,Indiana,5,Indonesia,13,Iraq,1,Ireland,37,Island,60,islands,2,Israel,9,Italy,57,Jamaica,8,Japan,45,Jordan,6,Kansas,6,Kentucky,2,Kenya,2,Korea,2,Kyrgyzstan,1,Latin America,3,Latvia,1,Lithuania,2,London,24,Louisiana,9,Lowa,4,Luxembourg,1,Luxury Travel,35,Maine,6,Malaysia,1,Maldives,15,Malta,2,Maryland,6,Massachusetts,9,Mauritius,6,Mexico,74,Miami,13,Michigan,5,Mississippi,2,Missouri,7,Moldova,1,Monaco,1,Montana,12,Morocco,20,Mother's Day Travel,1,Myanmar,9,Namibia,4,Nature,4,Nature Travel,103,Nepal,6,Netherlands,11,Nevada,24,Nevis,1,New England,5,New Jersey,2,New Mexico,6,New Year's Day Travel,6,New York,55,New York City,20,New Zealand,47,Newfoundland,1,Nicaragua,2,North America,11,North Carolina,6,North Dakota,1,North Ireland,1,Northern Ireland,1,Norway,20,Occasional Travel,9,Oceania,1,Ohio,6,Oman,5,Oregon,10,Pakistan,2,Panama,5,Paraguay,1,Paris,23,Pennsylvania,10,Peru,21,Phoenix,1,Photo Feature,1,Poland,3,Portugal,21,Prague,1,Puerto Rico,7,Qatar,6,Resort,11,Rhode Island,2,River Travel,2,Road Trips,49,Romania,4,Romantic Getaways,15,Rome,5,Russia,16,Saint Lucia,1,Saint Patrick's Day Travel,1,San Miguel de Allende,1,Scotland,10,Seasonal,56,Seasonal Travel,59,Sightseeing Tours,2,Singapore,18,Ski Resorts,10,Slovenia,6,Solo Travel,24,Solomon Islands,1,Somoa,1,Soth Africa,1,South Africa,14,South America,3,South Carolina,4,South Dakota,5,South Korea,3,South Pacific,2,Space Travel,14,Spain,33,Special,24,Special Features,315,Spring Travel,23,Sri Lanka,6,Student Travel,1,Summer Travel,53,Summer Vacation,8,Sweden,19,Swiss Alps,1,Switzerland,20,Tahiti,1,Taiwan,3,Tanzania,1,Tennessee,6,Texas,57,Thailand,31,Thanksgiving Travel,5,Things to Do,165,Tibet,2,Tips,119,Train Travel,23,Transportation,22,Travel,188,Travel Advice,64,Travel Apps,1,Travel Guide,40,Travel Tips,150,Tunisia,2,Turkey,10,Turkish,1,Tuscany,1,UAE,10,UK,40,Ukrine,1,Urban Travel,48,Uruguary,1,USA,632,Utah,13,Uzbekistan,1,Vacation Travel,247,Valentine's Day Travel,1,Vehicle Travel,2,Venezuela,1,Vermont,4,Victoria Falls,1,Vietnam,5,Virginia,5,Washington,15,Washington DC,20,Weddings Travel,4,West Indies,2,Wildlife Travel,13,Winter Travel,56,Wisconsin,5,Worldwide,155,Wyoming,3,xxx,1,Yemen,1,Zadar,2,Zambia,3,Zimbabwe,4,
ltr
item
Travel Magazine: 5 Strategies to Save Money on Trips that Don't Require Cutting Corners
5 Strategies to Save Money on Trips that Don't Require Cutting Corners
When I traveled by myself in my 20s, I used to stay in hostels and cheap out on flights to save money. Now, I've found a better way.
https://1.bp.blogspot.com/-kri3RMDyaGQ/XRuRw1k0hwI/AAAAAAAAOrs/1Pf8KkIocNA_gkDFpuLMJbfb1Gr2ebQrACLcBGAs/s1600/cake.dearjulius.com.jpg
https://1.bp.blogspot.com/-kri3RMDyaGQ/XRuRw1k0hwI/AAAAAAAAOrs/1Pf8KkIocNA_gkDFpuLMJbfb1Gr2ebQrACLcBGAs/s72-c/cake.dearjulius.com.jpg
Travel Magazine
https://travel.dearjulius.com/2019/07/5-strategies-to-save-money-on-trips.html
https://travel.dearjulius.com/
https://travel.dearjulius.com/
https://travel.dearjulius.com/2019/07/5-strategies-to-save-money-on-trips.html
true
5866858605520326948
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy