Travel is a wonderful way to experience new things, broaden your perspective, escape from the pressures of life, and enjoy time with friends and family. However, it can also be quite expensive. If you have a trip in the works, you can enjoy your time without breaking the bank with these three tips.
Save Up
A wise consumer knows that the price of paying for something on credit that they really can’t afford is rarely worth it. You could end up paying over 22% in interest by going into debt for your trip. With close to 65 million Americans carrying some amount of credit card debt, history shows that it is far too easy to let our spending get out of hand.Â
Instead, put away funds every month so that you can pay cash for your trip. You might want to set up an automatic transfer into your savings account every month. This will help ensure that you don’t let lesser priorities get in the way of your plans.Â
Open a Travel Rewards Card
If you love to travel you might want to consider opening a travel rewards card. You can build points toward travel quickly by taking advantage of any bonus points offered that come with the card. Credit cards with better rewards may have higher fees or require an excellent credit score for approval so make sure to shop around.
Additionally, you can earn 3 times the points on dining and 2 times the points on any other travel-related purchases. It also helps to put all of your expenses on your travel rewards card. Just be sure to pay off your balance every month. Your payment history accounts for 35% of your credit score.
Find Ways to Earn More Income
If you are saving every spare penny and building up your rewards points on your travel credit card and still struggling to fund your trip, look for additional earning opportunities. Maybe you can take on extra hours at work. Maybe you’ve been toying with the idea of starting up a side hustle. You might even be able to take on a second job, at least until you’ve saved enough money for your trip. There are plenty of money-making opportunities available if you are willing to put yourself out there.
You work so hard, you definitely deserve the vacation of your dreams! Just make sure that you earn it, too. Don’t let the joy of your trip be swallowed up in the stress of wondering how you’re going to pay for it. Plan ahead so that you can enjoy each moment–guilt free!Â
Did you enjoy this article? Here’s more to read: The Perfect Puerto Rico Itinerary for Solo Travelers
