Whether you’re spending time with loved ones or heading out on a getaway, a little preparation can enhance your holiday experience. You can enjoy the season without the financial worry by embracing a few practical tips and cost-saving strategies.
If you’re traveling to visit family:
You might be one of the 59% of consumers intending to travel for the holidays. When you’re celebrating with family, developing a shared schedule is key to ensuring a smooth and enjoyable trip.
1. Create an agenda
Help out your hosts by coming up with a tentative timeline for your visit. Discuss with your family what activities you’d like to do together ahead of time, so plans and budgets align.
Create a daily itinerary that includes agreed-upon activities, flexibility for spontaneous moments — and some alone time, too. This balance will help you enjoy your family time without feeling rushed or overwhelmed.
2. Budget your stay
Set some clear limits for your visit, including how long you’ll stay and what you’re willing to spend. Determine your accommodation, transportation and activity costs upfront to avoid surprise expenses or fees in the busy holiday season. Tools like buckets in an Ally Bank Spending or Savings Account help you organize and analyze your budget for these seasonal expenses.
3. Consider your gift-giving
If you want to bring gifts for your family, shop ahead of time to avoid last-minute stress. To save on gift expenses, consider coordinating with other family members. Pooling resources for a group gift can be both meaningful and cost-effective, making your gesture more impactful while easing the financial burden. Or organize a gift exchange, so each person only purchases one gift.
If you’re traveling for a vacation:
Making the most of your holiday time off work to take a vacation? Organizing your agenda can help you enjoy your trip without overspending.
1. Avoid peak timing
Thirty-four percent of consumers anticipate spending a little extra on holiday travel this year, but traveling during off-peak times can lead to significant savings. If you’re flexible on travel dates, taking a flight on a holiday like Christmas or Thanksgiving could help you avoid some crowds and potentially take advantage of lower prices.
2. Travel with a group
Traveling with friends or family can open up opportunities for discounts. Look for group rates on accommodations and transportation and share expenses to reduce the cost per person. This approach not only saves money but also enhances the travel experience with shared holiday-season adventures.
3. Use a travel agent
It may sound like a dated strategy, but travel agents can be valuable resources for finding discounts and deals, especially in navigating the complex logistics of the holidays. They can help you secure better rates and offer insider tips for a more enjoyable and cost-effective trip. [Pull quote: Set some clear limits for your visit, including how long you’ll stay and what you’re willing to spend on the details of your trip.]
4. Maximize travel rewards
The holidays can be an expensive time, so finding other ways to book travel and accommodation can help make space in your budget. Use travel rewards credit cards on your other purchases to earn points or cash back. Redeem these rewards for discounts or free travel.
5. Consider travel insurance
Travel insurance provides protection against unforeseen events such as trip cancellations, which can be especially common during the holidays with high traffic and winter weather. Evaluate different coverage options to ensure you are adequately protected, giving you peace of mind during your trip.
Make the most of the holiday season
By planning ahead and building your budget, you can transform your holiday travel into a stress-free and enjoyable experience. With a little foresight, you’ll be well on your way to a relaxing season filled with cherished memories.
