Numerous travel-related expenses have skyrocketed in price this year.
Why? After a few years of travel delays brought on by the pandemic, Americans are once again jet-setting, particularly to Europe and Asia.
“In my 19 years in the industry, this is by far the busiest year I’ve had on record,” said Jessica Griscavage, proprietor of Runway Travel and travel advisor.
During a recent conversation with Griscavage, CNBC airline correspondent Leslie Josephs, and CNBC associate personal finance editor Ken Kiesnoski about summer travel, the following tips and methods to save money on your trip were discussed:
YOLO travel. A "monster" summer. The art and science of travel planning.
A TON of wonderful travel tips and insights today from our guests @lesliejosephs @kkiesnoski @RunwayTravelco.
Check out a recording of the convo below👇(Starts around 5min mark)https://t.co/R30qK9NKrA
— Greg Iacurci (@GregIacurci) May 5, 2023
1. Be flexible
Travelling when and where you are flexible can yield substantial savings.
Travelling during the week as opposed to the weekend typically saves money. Instead of a significant metropolis, perhaps you should contemplate a more remote location.
Obviously, not everyone has this luxury. Education schedules may bind parents, just as strict schedules may bind others.
Travellers with some flexibility can use Google Flights and Explore to find excellent travel discounts throughout the year based on their departure city and destination.
It is a plug-and-play technique that is “a little bit of art and a little bit of science,” according to Kiesnoski.
Generally, airfare is the first item people purchase, followed by accommodations such as hotel rooms. Other online portals available to travellers include Booking.com, Hotels.com, Airbnb, Expedia, and Orbitz.
2. Travel in the off season
This falls under the “flexibility” category.
June, July, and August are prime travel months for many renowned destinations, particularly in the Northern Hemisphere. Josephs stated that airline officials have indicated in company earnings reports that they anticipate a “monster summer.”
However, visiting a destination in the autumn or winter may result in savings and a better experience, as throngs diminish and it becomes simpler to reserve must-see attractions.
“I think you’re going to enjoy it a little bit more,” Griscavage said of off-season travel to popular cities.
3. Use your rewards
Josephs stated that many individuals accumulated frequent flyer miles during the pandemic by using credit cards with travel rewards benefits.
Now is a good time to use those benefits instead of hoarding them, particularly considering how expensive it is to purchase a flight with cash.
4. Use credit card benefits
Credit cards, particularly those designed for travel, may include benefits like travel or rental car insurance. You may be eligible for these benefits if you use this card to purchase all or part of a trip.
This means that you may not need to purchase additional insurance policies, for instance.
“Always check with your credit cards and see how good the insurance is,” Griscavage said.
It is essential to ask certain questions, such as whether a card’s benefits cover preexisting medical conditions while travelling.
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