5 Summer Savings Tips to Not Burn Your Budget While Traveling this Summer

Blog Photo Website July 2023

Summer is a season filled with wanderlust and adventure, but it’s also a time when expenses can quickly add up, leaving your budget far behind. However, with a little planning and some clever strategies, you can enjoy a fantastic summer getaway without breaking the bank. Our experts at Anchor Wealth Management recommend the following tips including planning your trip at least 45 days in advance to get the best deals to enhance your experience and increase the savings in your wallet.

Navigate Accommodation Options and Find Your Budget Oasis
Consider an alternative accommodation to a standard hotel. Explore vacation rentals, hostels, or even camping. Websites like Airbnb, Hostelworld, and Hipcamp offer a range of affordable choices that can significantly reduce your accommodation expenses.

Be flexible with your travel dates. Prices vary greatly depending on the time of year and the day of the week. By being flexible with your travel dates, you can take advantage of lower rates and special deals. Consider traveling during weekdays or slightly off-peak season when prices tend to be more budget friendly.

Fuel Your Travel Bug Without Draining Your Wallet When Traveling
Plan ahead and compare prices. Book your transportation tickets well in advance to secure the best deals. Be sure to compare prices across different airlines, trains, or bus services to find the most affordable options. You can also consider alternative modes of transportation. Instead of solely relying on planes or long-distance taxis, explore other transportation options like buses, trains, or carpooling services. These alternatives can often be cheaper, especially for shorter distances, and can provide an opportunity to enjoy the scenic routes during your journey. Booking platforms like Expedia and Kayak offer a one-stop solution for savvy travelers, providing access to exclusive deals, discounts, and the ability to compare prices across multiple travel platforms.

Dining on a Budget
Pack your own snacks. Avoid expensive airport or gas station snacks by packing your own. Fill a bag with non-perishable items like granola bars, dried fruits, or nuts. Not only will this save you money, but it also ensures you have healthy options readily available during your travels.

Don’t forget to explore street food. When dining out, consider exploring local markets or food stalls. Not only do these offer an authentic culinary experience, but they are often more affordable than restaurants. By immersing yourself in the local food culture, you can savor delicious meals without burning a hole in your budget. We also recommend researching local coupons and deals to optimize your budget strategy. Online platforms, such as Groupon, Honey, or coupon.com, can highlight seasonal savings or coupons that are available for use.

Unlock Budget Friendly-Adventures with Research
Take advantage of free attractions. Research and explore attractions available at your destination. Parks, museums with free admission days, public beaches, and cultural festivals are great options to enjoy the local scene without spending a dime.

Look for group discounts and packages. Many tourist destinations offer discounted packages for popular activities and attractions—especially on weekdays. Look for group rates, combo tickets, or bundled offers that include multiple attractions. These packages often provide significant savings compared to purchasing individual tickets.

Keep Your Budget Cool When the Heat is On
Set a budget and track expenses. Before embarking on your summer travels, establish a realistic budget and stick to it. Monitor your spending by keeping track of expenses using a mobile app or a simple spreadsheet. This will help you stay accountable and avoid overspending while exploring your travels. At Anchor, our financial planning experts are ready to help you create a budget that is realistic and
fits your family’s lifestyle.

When it comes to discovering free activities while traveling, there are also several apps that can be your go-to resources. Culture Trip is an app that provides insights into destinations and local culture. It also offers articles and guides highlighting free activities and attractions in different cities. Eventbrite also lists free events and activities happening in various travel destinations. TripAdvisor, a widely used travel app, not only offers reviews and recommendations but also lets you filter and search for free activities in your destination through its “Things to Do” section.

Traveling during the summer doesn’t have to burn a hole in your budget. Remember, the key to a budget-friendly summer travel experience is planning ahead, being resourceful, and making conscious choices. So, go ahead and embark on your summer journey, knowing that you have the tools to keep your budget intact and make the most of your travels.

By Michelle Boisvert