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6 Tips To Be A Money Savvy Traveler

June 25, 2018 Whatever the reason or the season, planning your next vacation could be weighing on your mind. According to an article in LearnVe$t, an organization committed to providing resources to help consumers with money management, the average US traveler spent $1,246 per person in 2014 on summer vacation. This can be a real budget buster when you start adding up the expenses for spouses, children, and other family members. So, we’ve compiled some travel savings suggestions to help ease your mind – and your budget:
  1. Hotel Deals: In the age of social media, it should come as no surprise that you can make your reservations via social media for many hotels. Check out the Facebook pages of hotels for promotional offers – as some have up to 50% off for making posts or liking their page.
  2. Not-Your-Typical-Hotel Deals: Let’s face it, hotels can be quite pricey and leave you with limited options on making meals and storing fresh foods. A study from Hipmunk, a travel search firm, revealed that folks could save up to 63% by utilizing non-traditional accommodations instead of hotels across popular cities in the US. One popular site to book this type of stay is Airbnb.
  3. Know When to Book:  Planning ahead is always is key for travel savings, but there are some special tricks you may not have thought of. According to LearnVe$t, the cheapest time to book flights is 54 days in advance and you can also get the best prices on Tuesdays at 3 pm.
  4. Expand Your Search: When you thinking of traveling, you might immediately visit some of the most popular travel sites. In a recent study, Frommer’s found that some lesser known search sites, like Skyscanner and Momondo, consistently offered the cheapest travel rates.
  5. Road Trips: When you’re ready to hit the highway, use technology to your advantage. Apps like GasBuddy can show you the cheapest gas station nearby to help increase your fuel savings during your trip.
  6. Ride the Waves: Cruises are a great way to get rest and relaxation, but they can also come with unexpected additional costs. According to LearnVe$t, the average cruiser will spend an additional $429 in extras during their trip. You can save more by using on-board extras (spa visits, etc.) during the port days when savings for services can be upwards of 30 percent. Booking your cruise 45-90 days in before embarkation can save you more than 25 percent.
Daydreaming about your next getaway? Start saving now for your vacation. Decide when you want to go and how much you want to spend. Use a tool like to set and monitor your savings goal. Then, divide the total cost by the number of months between now and then to find out how much you need to set aside each month. You can create a to keep your vacation funds separate from your regular savings. Transfer funds to your vacation account monthly, so you can pay for your trip before you leave – and focus on the fun you’ll have. You might also be interested in Financial success isn’t how much money you have — it’s feeling good about what you’re doing with the money you have. Here are some tips on how to prioritize your debts and bills, negotiate with creditors and get your late payments back on solid ground. Even in these challenging times, there's  whole lot of good happening! At Summit, we've always believed financial success happens together and that's been truer than ever this past month. Here's what "together" has meant for our community. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. Navigating finances after college is hard, but you can take it one lesson at a time. Get tips for managing money and paying off student debt after graduation. If you’re not sure if something is a scam, it’s ALWAYS better to act like it could be! Fraudsters are always coming up with creative new ways to steal from you and quick to take advantage of a crisis. Here are some of the most popular recent scams to watch for. With a little planning, you may be able to actually save a little money during the holidays. Check out these tips to keep costs down without missing out on the holiday fun. Some scams go right for your money; others try to get you to part with personal information – like account numbers, Social Security numbers, passwords, and personal identification numbers (PINs). Find out what you should look for and how to protect yourself. The holidays can be stressful & that’s why it’s important to prioritize your self-care. Use these tips to reduce stress without draining your bank account. Your home is your castle, your refuge and—let’s face it—a place where it can be very easy to sink a big chunk of money. Which is why you’re always on the lookout for “sweet spots”:  those home improvements that add comfort, safety or a little zing of style while you’re living in your house and will boost the asking price when it’s time to sell. And if you can find a way to save money on those improvements or cut home expenses at the same time, well that sweet spot just got a little sweeter! Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA