7 Ways to Save Money While Traveling

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My husband and I paid for our wedding out of pocket; so when it came to our honeymoon, we didn’t have a lot left to spend. We also had a similar experience when we decided to take our next trip, because after we had already booked a place to stay, we had to deal with a job loss situation. Because of this, we learned to be extra frugal in our travels. Here are some of the methods we have used:

1.) Stay in a timeshare or home rental

Notice I did not say ‘buy a timeshare’ (I will have to get into this topic in a later post…). This can save money in two ways – first, you can typically get a bigger / nicer unit for less, and second, you can cook meals in the unit. A lot of people have timeshares, but end up with years where they are unable to use it (or have more points than they need). My husband and I actually own a timeshare and experience this often, so we rent out units as needed. There are sites like redweek.com or even airbnb to help find units to rent. Even better: ask around to friends and family who might have a timeshare. They might be willing to let you use one of their units for a reasonable price.

2.) Consider cooking some of your meals

It definitely helps if you are staying in a unit with a kitchen, but you can be creative here. If you are staying in a hotel that has a mini fridge for instance, you could buy milk and cereal to have breakfast in your room. When we stay at a location that we are driving to, we will typically prepare a few easy freezer meals (chili, spaghetti sauce) ahead of time and bring our slow cooker. That way we get the cost saving benefit but don’t waste much of our vacation time cooking. Replacing just one meal that you would have eaten out with spaghetti could save at least $10 which can really add up over all of the meals eaten. Also, many extended stay type places have outdoor grills – this could be a fun thing to do with the family that might not feel as mundane as normal cooking.

Spaghetti cost breakdown:

• Ground beef – $5/lb
• Spaghetti sauce – $2
• Pasta – $1.50
• Parmesan cheese – $3
• Garlic or Italian bread – $2.50
• Total = $14

Meal at an inexpensive restaurant (for 2):

• Entree – $10 each (x2)
• Sales tax – $1.20 (assuming 6%)
• Tip – $4.24 (assuming 20%)
• Total = $25.44

3.) Consider eating your bigger / nicer meal out at lunch

Restaurants typically charge more for dinner vs. lunch (they can have some good lunch deals – especially on weekdays). We typically try to eat our nicer meals at lunch time and consider picking up subs or pizza for dinner to save money. Also, keep coupons and deals in mind. For example, Carrabba’s sends out B1, G1 free lunch coupons about once a month and many restaurants offer ‘kids eat free nights’. Even traveling around your birthday could be a good idea – you won’t have to go to work on your special day and many restaurants offer freebies.

4.) Consider traveling places with outdoor activities

When we travel, we try to pick places with nearby State or National Parks. While you might have to pay a fee to enter the park, you can usually get a week pass and enjoy a lot of time exploring. One of our first trips was to Gatlinburg and we found out that Smoky Mountain National Park has no entrance fee. We particularly love checking areas with nice waterfalls or views.

5.) Drink at ‘home’

Alcohol can be very expensive ordered at a restaurant. For example, I just looked up the Wine List for Mitchell’s Fish Market and a bottle of 14 Hands Cabernet Sauvignon is listed at $35. I found the same bottle of wine at my local grocery store for $10.99. Almost a $20 difference! Then, consider you are also paying tip on it as well. Instead, I recommend a nice glass of wine relaxing on the balcony at the place you are staying. If you are lucky, maybe you can enjoy it while watching the sunset.

6.) Consider a travel rewards credit card

I understand some hesitation on this one. We try to avoid having too many credit cards open at once. My advice is to never carry a balance on the card – pay in full each month. Also, I would focus on the one that gives you personally the most benefit. For example, if you do a lot of flying, maybe a Delta or Southwest credit card would be a good option.

At one point, we had an IHG credit card. Back then it was a $49 annual fee (I just checked and that fee has gone up to $89). The original motivation behind this credit card for us was ‘no foreign transaction fees’. The other big benefit (in addition to a lot of IHG points), was one free night a year at any of their properties. We would use it at a location where we knew we would get our money’s worth. Some of our favorite IHG locations: Intercontinental Time Square (NYC) – my husband actually had to stay at hotels at work and we managed 3 free nights there on that trip, The Venetian in Vegas, and Holiday Inn – Fisherman’s Wharf (San Francisco). These were all trips where we had a timeshare for the rest of our trip and just enjoyed a luxury stay for the one night.

7.) Plan ahead when it comes to foreign currency

If you want any physical foreign currency for international travel, contact your bank. Most will exchange for a much lower rate than airport currency exchanges. For example, PNC Bank does not charge a transaction fee for foreign currency orders. However, you have to allow 3-5 business days for the order to be processed. Also, keep in mind to tell your credit card company when you plan to travel, so that you don’t have issues using your card.