1. Save regularly and in advance for your trip — perhaps a vacation version of a Christmas club. Have coffee at home or pack a sandwich — put the savings into your vacation fund.
2. Prepare a budget. Look for areas of savings and decide how much to spend on your trip.
3. Manage your debt. We do not suggest putting a vacation on credit cards.
4. Consider going outside peak season to save money.
5. Sell the stuff you no longer need or want and add the money to your vacation fund.
6. Research hotel costs. Does the hotel qualify for any discounts? With research you might negotiate a better rate. Or spread out the cost and try hotel layaway.
7. Consider renting a home. You might save some money versus hotel costs. Even cooking at the home might save considerable funds. Obtain the total rental cost and the house policy before the rental. Perhaps even a family member with an unused vacation home might rent it to you for a few extra dollars. Perhaps a house swap or house sitting may give you more options.
8. Visit less expensive places. Consider camping. Take factory tours. Museums, state and local parks, beaches, can offer good values. Look for places with lots to do at less cost.
9. Consider trips thathave a “service” component but are reasonable in price. By giving back you might reduce any nagging guilt to zero.
10. Confirm your rates. If the prices drop see if credits can be issued. It’s worth your money to ask.
11. Trip insurance can reimburse you for travel cancellation or interruption coverage, cost delays and lost baggage. It can help with 24-hour medical emergencies or evacuation assistant services. It might also protect against supplier default and pay for extra accommodations during travel delays. Watch for ”cancel for any reason” clauses as this might help if you are laid off and decide to cancel your trip.
12. Take care of the financial needs you will have on the trip. How much cash should you take? Do you need to buy travelers checks? How about foreign currency exchanges? Do you need extra funds in case you are held over somewhere for an extra day.
These money saving tips are courtesy of WMUR, if you have your own money saving tip you’d like to share with other vacation travelers, please share in the Unlock Your Wealth Radio comments section below.