Save on Holiday Travel: Tips from a Financial Advisor

It's never too early to plan your holiday travels. This is especially true if you want to avoid high prices. Flights, hotels, and car rentals can get very expensive. These costs could ruin your holiday spirit.

Keep reading for our gift to you: 10 tips to help you save on holiday travel.

Book in advance

Google Flight insights suggest that the best deals for mid-December 2024 flights will probably be found in late October. Similarly, research from Hopper suggests booking your Thanksgiving and Christmas flights by October 14, 2024, for the best prices.

Early booking can also save you money on hotels and rental cars. "Travel pricing operates on a supply-demand basis. As the demand for rental cars, flights, or hotels increases, so does the price," says Heather Christopher, founder of HC Travel Firm. Locking in your reservations early can help you avoid the holiday price surge.

Opt for off-peak flight days

Flying on weekdays is usually cheaper than weekend flights. However, Thanksgiving is an exception. Flying one or two days before Thanksgiving can cost more than flying the weekend before.

For the best deals, consider flying on the actual holiday. If you book an early flight and avoid delays, you could arrive in time for the celebration—while keeping more money in your pocket.

Follow travel companies for deals

Stay updated on promotions by following airlines, hotel chains, and rideshare companies on social media. They often post about sales and discounts. Signing up for email newsletters is another great way to catch holiday deals.

Maximize your credit card benefits

Your credit card probably earns points for every purchase. Check how many points you have. See if you can use them for travel expenses, like flights or hotel stays. You might also earn extra points by booking through your credit card’s portal.

Some cards offer added perks like free checked bags or airport lounge access, so take advantage of those benefits to cut travel costs.

Refuel strategically

Gas prices tend to increase later in the week and on high-traffic days. A 2024 GOBankingRates study found that Monday and Tuesday are often the cheapest days to buy gas. This trend is seen in many states.

Fill up early in the week to avoid high prices. Use apps to find the cheapest gas stations while driving. This is especially helpful near state borders, where prices can change.

Prebook rideshares and taxis

Whether you need a ride to the airport or your holiday dinner, using a prebooking feature could save you money. Keep an eye out for promotions, like booking through social media apps, referring friends to rideshare services, or scheduling rides for big events like New Year's Eve to score discounts or even free rides.

Rent out your home while you're away

If you live in a popular location, renting out your home while you're away for the holidays could help cover your travel expenses. You can list your property on rental platforms or share it with your network. Just make sure there are no local restrictions or HOA rules that prevent short-term rentals in your area.

Pack your own food

Airport and roadside food is often expensive. To save money while traveling, think about bringing your own snacks or meals from home.

Travel light

If your airline charges for checked luggage, try fitting everything into a carry-on to avoid the extra fees. For holiday gifts, consider shipping them directly to your destination instead of packing them in your suitcase.

Consider taking a train

With airports and highways packed during the holidays, trains can be a more budget-friendly and less crowded alternative. Look into train tickets, which may be cheaper than flying, and don’t forget to explore bus options for even more savings.

Bottom Line

By planning ahead and using these money-saving tips, you can manage your holiday travel budget. This way, you can still enjoy the season.

Booking early, using credit card rewards, or picking different travel options can help you save money. A little preparation can make your holiday journey easier and more affordable. Safe travels!

Sources:

https://www.fidelity.com/learning-center/smart-money/when-to-book-holiday-travel

Disclosures:

This information is an overview and should not be considered as specific guidance or recommendations for any individual or business.

This material is provided as a courtesy and for educational purposes only.

These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information