Oftentimes, travelers believe that just because they are setting a budget for their vacation, it means they can’t enjoy luxury travel. This couldn’t be further from the truth, however, as all travelers should be setting a budget regardless of income level. Prices for vacations have only risen which is the cause for this never-before-needed budget requirement.
In fact, during the first half of 2022, consumers spent over $37 billion for domestic flights alone, which doesn’t even factor in the money spent on summer vacations. Saving money when planning your vacation has never become more important, but that doesn’t mean you need to sacrifice your comfort at the same time. Learn everything there is to know about budgeting for luxury travel.
First and foremost, it’s crucial to outline the different between luxury travel and standard travel. Luxury travel really refers to any vacation where a person isn’t just simply visiting a destination and staying in a generic hotel. Instead, a luxury vacation is more personalized and has day to day activities.
For example, take two travelers who decide to stay in a large city for vacation. A standard traveler may stay in a three-to-four-star hotel, have one activity planned, and then take the metro or public transportation to sight-see at different areas of the city.
On the other hand, a luxury traveler may choose to stay in a four-to-five-star hotel that offers extra bells and whistles. They may have invested in a travel agent who picked activities for them on a daily basis, and they will make reservations at famous restaurants in the area. Rather than taking public transportation to sightsee, they may do a fly-over tour or simply take rideshare to have their own comfortable space.
While traveling in a standard manner may be fine for some, others prefer a higher level of comfort. However, having this preference for comfort but being tight on cash can feel like an impossible situation. After all, half of all Americans can’t cover an emergency $1,000 expense, let alone fund a luxury vacation. This is why following the below budgeting tips is so important given that they can help you plan a luxury trip, even when money is tight:
Beyond the above tips that are useful for establishing a vacation budget, below are five additional useful tips that can help you save money before your vacation ever begins:
Oftentimes, people think a luxury vacation means going somewhere extravagant such as Italy or the Maldives. In reality, there are a number of lesser visited travel destinations that offer many luxurious hotels, restaurants, and perks. For example, there are many things to do in Pigeon Forge at night or during the day, yet fewer people travel here as it’s in the heart of Tennessee. Consider visiting a lesser known location to both save money and have a luxurious trip.
For those who use their credit cards daily, you may have a large number of points saved up that you never actually knew about. Consider redeeming these points for cash or redeem them directly with major hotel chains through your travel portal. This can help you stay at a luxury hotel without ever actually paying a dime upfront.
One easy way to save money on your luxury vacation is to book every activity months in advance of the trip. More often than not, prices will be lower at this time and you could save as much as hundreds of dollars. Additionally, consider using credit card reward points for activities too in order to save even more money.
When money is really tight but you’re desperate for a luxury style vacation, consider setting a number of “must-see” items for your trip. These are the things that you absolutely have to do on your vacation, whereas everything else is a take it or leave it item. When building your potential itinerary, put a star next to anything that you really want to do so that you can easily see these items.
Another simple and easy way to save money on your next trip is to go during the off season. You can save thousands of dollars simply because there aren’t as many travelers visiting the area and hotels aren’t booked to capacity. However, be aware that some vacation destinations are popular year-round, so this tip may not be as helpful for those of you choosing a destination such as this.
Contrary to popular belief, travelers can set a budget for themselves when planning a luxury vacation. By allocating money towards the comforts you seek on vacation, along with using some of the tips and tricks listed above, any traveler can successfully plan a luxury vacation for a lower-than-average cost. Don’t hesitate to start planning your dream vacation as soon as possible, all while saving dollars along the way.
