5 Tips for Millennials to Travel on a Budget - Part 1
Retirement was getting pretty serious so this week’s post is less nerdy and a lot more fun! In 2022, I was away from home 107 days and had some amazing experiences. Thanks to work travel, staying with friends or family and choosing inexpensive destinations I was able to use the travel tips below to save money while having a great time. Below is a picture of my friend and I enjoying a cemetery tour in New Orleans last spring!
I love to travel, but it can add up so here are my top 5 tips to traveling well without spending all of your money.
1. Sign up for free loyalty programs
When I travel I sign up for loyalty programs to earn points, even if I don’t think I’ll use a certain brand again. The potential for earning and using points is valuable to me and can help to make travel more affordable. For example, I’m flying Norwegian Air for the first time in April. I don’t know if I’ll fly them again, but I signed up for their loyalty program just in case.
I keep track of my loyalty programs, points, usernames, etc. to see what & where my points are. I recommend setting up something simple to keep tracks of your programs.
2. Set a daily & total budget for your trip
I set a daily & overall budget for a trip to use as a guideline. Sometimes a new place is more or less expensive than I thought - or an unexpected expense comes up.
My general goal is to spend between $50-100 USD per day wherever I’m going without feeling like I’m limiting myself from new, exciting experiences.
I find value in spending money on food and attractions, like museums or tours. On the other hand, I try to keep my transportation budget low with public transportation and walking.
Lastly, I plan flights and accommodations as far in advance as possible and try to travel in the spring and fall compared to the summer when possible. For example, I’ve traveled to Portugal in February & Poland in October - the weather was good and I avoided huge crowds.
3. Find affordable places to stay
Most locations have numerous housing options for every budget level. When possible I try to stay with friends or family and when that isn’t an option I explore AirBnBs, hostels and hotels.
Most commonly I stay at AirBnBs for a mix of affordability, comfort and location. I also earn gift cards for AirBnB and Delta through the Seated app - read my full article on Seated here - to decrease my out of pocket expenses.
4. Determine your travel goals and budget
Similar to personal finance, travel goals are personal and not the same for everyone. I prefer to plan in advance, take many small domestic trips across the year & plan at least one international destination / splurge trip.
I recommend creating an annual travel budget rather than a monthly budget and completing a review of your trip expenses when you return. Then, you can make more informed travel decisions moving forward to maximize your travel budget.
I found that my work schedule and number of vacation days influenced my previous travel decisions. Now, as a fully remote & self-employed person I may want to travel more, though I also have a more limited budget. Therefore, I might opt for a hostel over AirBnB when visiting Europe or find a flight on a Tuesday/Wednesday versus the weekend when flights might be more expensive.
What are your travel goals?
Are you type A or do you plan last minute?
Does your lifestyle allow for many small trips? A large trip? Or a mix of the two?
What’s on your travel bucket list?
Do you have weddings, bachelorette parties or graduations you need to plan into your budget?
Where do you like to splurge? Upgraded airline seats, a fancy hotel or your day to day spending?
Answering these questions can help you determine your goals and budget each year!
5. Follow travelers who fit your travel style
Below are two single, female travelers I follow for travel tips:
Jen on a Jet Plane
A Solo Woman Traveling
Thanks for checking out my travel tips part 1… this is just the beginning. Keep an eye out for part 2 coming soon with more advanced tips and tricks to get you traveling more without breaking the bank!
Follow me @pointsforchange on Instagram for more posts and content coming soon.
Disclaimer: I am not a financial advisor. My suggestions are simply suggestions and not financial advice. You should always consider your personal financial situation and what works best for you prior to making financial decisions because personal finance is… well… personal.