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Many people want to do extra traveling this year. Here’s how to pull it off.
Key points
- Many Americans have the goal of traveling more in 2022 than they’ve done in recent years.
- Planning ahead and using the right credit card can save you money while traveling and keep you from landing in debt.
A lot of people gave up traveling in 2020 when the COVID-19 pandemic erupted and vaccines weren’t yet available. While travel did pick up in 2021, many people’s plans were thwarted first by the delta variant’s emergence over the summer, and then by omicron during the holiday season.
If you’re hoping to travel more in 2022, you should prepare to pay up. These days, just about everything is costing more money thanks to inflation. Between that and the potential for high demand, travel could become a more expensive prospect this year. But worry not — there are steps you can take to travel without emptying out your savings account or racking up debt in the process.
In a late-December survey by Ally Bank, 35% of Americans said they want to do more traveling this year. Lindsey Bell, Chief Markets and Money Strategist at Ally Bank, has some tips for pulling off your upcoming trips affordably.
1. Plan ahead
There’s often money to be saved on travel if you get organized and map out your plans in advance. Bell says, “Consider booking summer flights three or more months in advance, and if you know your destination, you might take advantage of airline tickets with record low prices early this year.”
Of course, there’s a danger in booking plans too far in advance. If your circumstances change, you may need to alter your plans or itinerary, which could result in financial losses. But if you’re set on a specific destination — say, you have family across the country you know you’ll be visiting this summer — then it pays to book flights in advance.
You should also take advantage of low hotel rates and book those ahead of time. Often, hotels offer flexible cancellation policies, so there’s little to lose by locking in rates when they’re more affordable.
2. Fly out strategically
These days, a lot of people are working remotely and have more flexibility with their schedules. If that’s you, it could really work to your benefit when booking travel. As Bell says, “Flying earlier in the week (or traveling on weekdays …….
