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When it comes to travel, saving a few bucks here and there can add up.
As someone who enjoys both the journey and the destination, I’ve found some great ways to make the most of your travel budget without sacrificing too much comfort. Here are a few tips I’ve shared with clients and friends over the years:
Book with hotels directly. While it is easy to use Hotels.com, Priceline, or any other comparison site, hotels will often offer discounts to those booking directly. Hotels normally have to pay a fee to the comparison site to be listed on their platform, so by booking directly, you "cut out the middle man" and can save them a few dollars - which they can pass back to the customer.
Look for hotels that serve complimentary breakfast. Food costs can be really high if you are on the road. Depending on where you are, there may not be many options. Plus, eating out for every meal can take its toll on your pocketbook. Many hotels offer high quality complimentary breakfast buffets. If you don't mind eating at the hotel, this can be a great way to save money.
Look for hotels that are close to a grocery store. Part of traveling on vacation is eating in new and fun restaurants. However, if you are concerned about your food budget, book your hotel close to a grocery store. You can buy your food like you would at home. Just be careful - some hotels have a kitchen area, others do not. If you are planning to eat from the grocery store, make sure you can actually prepare your meals from the hotel!
Look for deals on car travel. Always compare your options. Uber is convenient, but it is not always cheaper than a taxi. As gas prices have gone up, Uber drivers have become fewer in some areas - driving up cost. If you're looking to drive yourself, consider renting a car through a service like Turo which lets you rent cars directly from locals or traditional car rental services.
Consider alternative forms of transportation. With gas prices skyrocketing and flights being more expensive than ever, you may want to explore alternatives like trains or even buses. Personally, I’ve found train travel to be a more relaxed and scenic way to get from point A to point B. You can stretch out, avoid airport security lines, and even see parts of the country you’d miss by car or plane. Buses, while not always the most comfortable, can be an incredibly cost-effective option if you don’t mind a slower pace. If you’re in no rush, these alternatives can offer significant savings.
The cost of travel has certainly gone up recently, but if you’re willing to dig a little deeper and explore less conventional options, there are still deals to be found. Whether you’re looking to book a hotel, find transportation, or simply reduce your daily expenses on the road, a bit of research and flexibility can go a long way.
Safe travels!
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About the Author:
David Peters, CPA, CFP, ChFC, CLU, CPCU, CGMA, is the Founder and Owner of Peters Professional Education (petersprofessionaleducation.com) and Peters Tax Preparation & Consulting, PC. David Peters is also registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States, and regularly contributes regularly to various professional publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures.
Required Disclosure:
The content presented above is for informational purposes only, is general in nature, and is not intended to and should not be relied upon or construed as a financial plan or financial/investment advice regarding any specific issue or factual circumstance.
Financial and investment advisory services offered through Peters Financial LLC. Brokerage and custodial services offered through Charles Schwab Co. Inc., member FINRA and SIPC. Peters Financial LLC and Charles Schwab Co. Inc. are not affiliated. David Peters also offers tax services through Peters Tax Preparation & Consulting, PC. Peters Tax Preparation & Consulting, PC is not affiliated with Peters Financial LLC and clients or prospective clients are never obligated to use Peters Tax Preparation & Consulting, PC. as part of any financial planning or investment management services offered by Peters Financial LLC.
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