15 Tips To Travel Despite the Increase in Inflation

By Moriah Costa

UPDATED July 09
|
7 MINUTE READ

Inflation continues to impact everyone's bottom line, and travel budgets are no different. Still, many people are planning to travel as much or even more this year despite inflation, which is increasing prices at popular destinations.¹

With rising prices, your upcoming trip may cost more than it did last year. As you plan your travel trips, here are some tips to stay thrifty and still have a great vacation.

1. Take Advantage of Membership Perks

If you already have a membership card, you might get extra perks that you can use when you travel. For example, a Costco membership may help you get a deal on a vacation package or car rental.² And AAA members get discounts on flights, car rentals, hotels, cruises and tours.³

You may also get access to travel discounts or extras when you use a credit card to book. For example, the Synchrony Premier World Mastercard® gives cardholders access to Mastercard Travel & Lifestyle Services, which include car and hotel discounts, upgrades, travel assistance and more.

2. Use Your Loyalty Points and Miles

The cost of food and travel might be higher these days, but loyalty points and miles may also be worth more, especially for programs that use award charts (a list of how many miles or points you need to receive rewards like flights).⁴ So if you have a stockpile of points and miles, consider using them to lower the cost of your airfare or hotel. Just make sure to do a cost comparison to check the value of points vs. dollars.

3. Sign Up for a Cash Back Credit Card

While you certainly don't want to max out your credit cards to take a cruise around the world, you can sign up for a credit card that offers cash back, which you can put toward the cost of your trip. You can also accumulate cash from your everyday spending and use that extra money toward your next trip. Synchrony Premier World Mastercard®, for example, gives cardholders unlimited cash back on every purchase.

4. Check Out Hostels Instead of Hotels

Hostels aren't just for students and backpackers. With the rising costs of hotels and vacation home rentals, staying at a hostel can help you travel on a budget. In fact, you can get private rooms in hostels for a fraction of the price of a hotel. Check out Hostelling International or Hostelworld, where you can compare reviews and find a hostel in most major cities worldwide.

5. Take the Train

While traveling by train in areas outside the Northeast Corridor may be unrealistic, you can find sales on the Amtrak® deals page. For example, you can save money by booking in groups or traveling at night (which also saves on a hotel!).

There are even more train options if you're traveling to Europe. If you're planning to travel across the pond, consider taking the train when you arrive instead of flying. You can get a Eurail Pass, which offers five days of travel within a month for $350 for adults aged 28 to 59.⁵

6. Offer To House-Sit

Instead of paying for a hotel, see if anyone needs a house sitter in your prospective destination. You may need to take care of furry friends or water plants in exchange for free lodging.

There are also sites where you can do a house swap and stay in someone's place while they stay in yours. HomeExchange, for example, lets you connect with other members and exchange homes for an annual membership fee of $220.⁶

7. Take a Midweek Trip

If you travel during the week instead of the weekend, you might be able to save money on airfare and hotels. After all, with more demand for hotels and flights, weekend getaways can be expensive. You're more likely to find good deals if you take a trip during the week.

8. Consider the Great Outdoors

Camping is often cheaper than staying in a hotel, especially if you already have a tent and camping gear. Plus, there's an abundance of fantastic national parks across the U.S. There may even be a few parks close to where you live!

While the price of campsites varies depending on the time of year and location, it is often much cheaper than a hotel. Just make sure to plan and book ahead, as sites can quickly fill up, especially in the summer months.

9. Eat Out for Lunch Instead of Dinner

When traveling, you can save on meals by eating out for lunch instead of dinner. Lunch menus are often cheaper than their nighttime counterparts. You may also be able to get discounts during happy hour. Check out apps like Too Good To Go or Groupon to find deals from local restaurants.

10. Set Up Alerts Months in Advance

If you want to find the best deals, start planning early. You can use airfare tracking sites like Google Flights to get fare alerts so you can keep an eye out for prices dropping. Booking early might help you save money on flights, hotels and even attractions.

11. Travel Domestically Instead of Internationally

Traveling internationally can be expensive, especially with inflation increasing prices at home and abroad. Instead, you might be able to save money by traveling domestically. Choose a state you have yet to visit or take a trip across the U.S. and camp along the way!

12. Pack Light To Save on Baggage Fees

Unless you have elite status at an airline, chances are you'll need to pay for checked bags. And the more bags you check, the higher the fees.⁷ Try to pack as light as possible to avoid paying extra money for checked bags when you fly. Only bring the essentials, and consider doing laundry at least once if you're taking a long trip and have access to a washing machine.

13. Stay at College Dorms During School Breaks

If you're traveling during college breaks, you may be able to stay in university dorms for a lot less than a hotel stay. Some dorms may even offer free breakfast and Wi-Fi!

While university accommodations for nonstudents are less common in the U.S., there are plenty of great deals in Europe, Canada and Australia. You can find options by reaching out directly to universities or on UniversityRooms. Keep in mind that accommodations can fill up quickly, so make sure to search for rooms a few months in advance.

14. Travel as a Group

Traveling with friends and family and splitting costs may be a more cost-effective way to vacation than traveling solo. After all, renting an apartment or house is generally more affordable when it's split several ways. An Airbnb rental that fits six adults, for example, costs about $60 per person per night, while three two-person hotel rooms cost about $89 per person per night.⁸ You can also split the cost of groceries and car rentals, bringing down your total trip costs.

15. Look For Free Attractions

One way to save money when traveling is to look for free events. Some popular tourist destinations have free museums or cultural events, and others offer free tickets on specific days. In Paris, for example, several museums offer free admission on the first Sunday of the month.⁹ Just be aware that you may need to book in advance, and the venues could be busy on those days.

Traveling on a Budget Is Possible

Travel prices might be rising, but you can still take some well-deserved time off this year without breaking the bank. By signing up for price alerts, reconsidering your international travel plans, taking midweek trips and using a cash back credit card and other rewards programs, you might be able to combat inflation and save some money when you travel.

Before you take some much-needed R&R, discover some of the best travel hacks to save even more.

Moriah Costa is a personal finance and investing writer. Her work has appeared in Thomson Reuters, S&P Global, The Washington Business Journal and others.

* 2% CASHBACK: Valid on net purchases (less credits, returns and adjustments) of goods and services made with your Synchrony Mastercard. Cash back earned will be applied as a statement credit within 2 billing periods after an eligible purchase is made. See Reward Terms for details. NO ANNUAL FEE: For new accounts the Variable Purchase APR will be 16.24%, 22.24% or 29.24%. The APRs are accurate as of October 1, 2022 and will vary with the market based on the Prime Rate (as defined in your credit card agreement). Minimum interest charge is $2.00.

Sources/references

1. Pokora, Becky. 2024 Vs. 2023 Travel Trends: 40% Of Americans Plan To Travel More This Year. Forbes. Jan. 8, 2024.

2. Seemann, Katie You Can Use Your Costco Membership to Score Major Vacation Deals. Travel + Leisure. Dec. 16, 2023.

3. AAA Travel Services. AAA.

4. Kemmis, S. and Coyle, M. How Much Are Travel Points and Miles Worth in 2024? NerdWallet. May 16, 2024.

5. Eurail Global Pass. Eurail.

6. HomeExchange Membership. HomeExchange.

7. Yellin, J. Airline baggage fees: Here's how much it costs to check a bag on major US airlines. The Points Guy. March 22, 2024.

8. French, S. and Kemmis, S. Airbnb Pricing Statistics: 2024. NerdWallet. Jan. 16, 2024.

9. Free Museums and Monuments in Paris. Paris je t'aime.

TRAVEL