Maybe, because “Travel” is my business, a recent article by Jerry Hirsch, Travel Writer for the Los Angeles Times, caught my attention. In the piece, Hirsch suggested some tips for saving for your next “Big trip.” Among them:
• Set up an account where you bank, like a Christmas, and have the money deducted from each paycheck;
• If you have a tax refund forthcoming, bank it!
• If you charge a lot of your expenses, consider using a credit card that awards airline miles or hotel points;
• Use a web site, like eBay or Craigslist, or hold a garage sale, and sell off some pricy items cluttering your garage—like the motorcycle your wife hasn’t allowed you to ride since your first child was born;
• Designate a portion of your savings to a high-interest, but low-risk investment vehicle;
Like I always advise my clients, book early. There are frequent discounts for doing so, as well as the obvious benefit of having more options for your travel and cabin or hotel accommodations. Also, look for a repositioning cruise. They’re always a good deal;
Wherever possible, avoid peak travel periods—e.g., ski in mid-January, rather than Presidents Day in February; avoid hot-weather destinations during Spring Break; and
Save on lodging expenses by doing a house swap—with a European family for example. There are a number of internet web sites for this purpose.
I’d be interested if you have some unique ways you at least partially finance your travels.
