Budget Travel Tips
MoneyWatch for March 2006
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Most travel experts recommend that when planning a trip, it is best to shop around, compare prices and read the fine print. While rising fuel prices have made traveling on a budget more challenging, there is help. MoneyWatch has collected some tips and resources that might save you some money on your next vacation.
General Travel
Consider using a travel agent. They often have relationships, experience and price breaks that you might not have on your own. Also, if something goes wrong on a trip, they can help.
Plan to take your trip before or after the peak travel season. Airline tickets, hotel rooms and other costs can be significantly lower.
Often, the best way to get a good exchange rate in a foreign country is to use your credit card. You will be charged the bank rate.
Get written confirmation on all your travel plans and keep track of those confirmation numbers.
Source: Right on the Money
Airline Fares
You may lower the price of a round trip air fare by as much as two-thirds by making certain your trip includes a Saturday evening stay over, and by purchasing the ticket in advance.
To make certain you have a cheap fare, even if you use a travel agent, contact all the airlines that fly where you want to go and ask what the lowest fare to your destination is.
Be flexible, if possible. Consider using low fare carriers or alternative airports and keep an eye out for fare wars.
Get and use frequent flyer miles earned through travel, credit cards and any other means you can reasonably collect them.
Sources: Federal Trade Commission; Aviation Consumer Protection Division
Car Rental
Since car rental rates can vary greatly, shop around for the best basic rates. Ask about any additional charges (extra driver, gas, drop-off fees) and special offers.
Rental car companies offer various insurance and waiver options. Check with your automobile insurance agent and credit card companies in advance to avoid duplicating any coverage you may already have.
It is almost always less expensive to return the car with a full tank of gas. Check your rental company’s refill rates when you pick up your car.
Source: Federal Trade Commission - Renting a Car
Lodging
If making reservations with a hotel within a chain, call the hotel directly instead of using the toll-free number. You might get a cheaper rate or a perk such as free parking, free breakfast or an upgrade.
If you like, you can negotiate the room rate when you book your hotel.
In the U.S., go online to convention and visitors bureau’s Web sites - they often have better rates than if you make reservations through the hotels.
Source: CNN Interview with Rudy Maxa
Travel Insurance
Travel insurance can help protect your investment in a trip. It can also cover health insurance costs, especially for travel outside of the U.S., if they are not already covered by your current policy.
Generally, travel insurance costs an average of four to seven percent of the cost of the trip.
Travel insurance doesn’t cover every instance of trip cancellation, such as a change of heart, so it is important to know what your policy covers.
Source: Marketplace Money - Travel Insurance A to Z
Resources
General Travel Information
Online budget travel guides
American Automobile Association
Budget Travel Online
World’s Cheapest Destinations
Trip Advisor
Elder Hostel
Budget Travel Tips from About.com
Travel tips, experts and shows on Public Broadcasting
Marketplace Money
Rick Steves
Savvy Traveler
Rudy Maxa
Right on the Money
Support for MoneyWatch is made possible by Charter One Foundation.
Research assistance for MoneyWatch is from Cleveland State University Nance College of Business Administration. Information on the Nance MBD program is available here.
