Whether you envision yourself lounging on the white sandy beaches of the Caribbean, taking a once-in-a-lifetime romantic getaway in Santorini, or exploring the rich culture and history of Rome, saving for your dream vacation requires thoughtful planning and strategic budgeting.

But let’s face it, with your daily expenses and other financial goals to consider, saving enough funds for that elusive, long-desired vacation can be daunting.

Fortunately, you can use a few foolproof strategies to hit your savings goals without relying on predatory loans, maxing out your credit cards, or undergoing any other sort of financial stress. 

This detailed guide to vacation fundamentals will help you save money on vacation packages, transportation, and food expenses and set you on the best course of action to plan and save for your dream getaway.

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Vacation packages allow you to bundle airfare, accommodations, and other travel expenses into one neat package with a discounted rate. The convenience, savings, and built-in activities make them an attractive option for many travelers. 

Use these practical tips to save money on these packages:

Use Accrue Savings to save money

Paying in full for vacation packages upfront might not be the most realistic option, especially if you are on a tight budget. 

Accrue Savings is an innovative savings plan that allows you to pay for your travel over time without the added burden of interest or hidden fees. 

With Accrue Savings, you can create a savings goal to meet your travel needs and fund your wallet through weekly or monthly payments until you reach your goal amount. Link Accrue Savings with your bank account and set automatic transfers to your savings so you never miss a payment. Accrue Savings helps you earn cash rewards when you shop from eligible merchants, making saving up for your next vacation a lot easier.

Be flexible with airport choices

Everyone has a preferred airport when taking a vacation, but being flexible with your airport selection can save you substantial money on your vacation budget. Most travel sites let you search multiple airports in the same region to ensure you get the best deal. 

Filter by distance or departure time to make finding a cheaper flight easier. Smaller airports often offer cheaper flights than bigger, busier airports, but factor in the time and cost of transportation from the airport to your destination.

Consider signing up for a credit card that offers travel rewards

A travel rewards credit card is an excellent way to save money on plane tickets, hotel rooms, car rentals, and other vacation expenditures. These cards offer travel points that you can redeem for free flights, discounts on hotels, and other travel-related perks like free checked luggage, priority boarding, and lounge access. 

Choose from these two types of cards available:

• Co-branded: They bear the name and logo of an airline or hotel chain and let you redeem points for tickets or stay with that particular company. This limits your options but can be beneficial if you are loyal to one brand.
• General: These cards are not affiliated with any specific brand but offer more flexible redemption options. You can use the points for any airline, hotel, or car rental company.

When choosing a card, compare the rewards and benefits before signing up. Research annual fees, redemption options, and associated perks to ensure you get the most out of your card. Pay off the balance in full each month to avoid expensive interest charges that could damage your credit score if you default on payments.

Transportation expenses account for 44% of your travel budget, according to ValuePenguin. Airfare, bus tickets, rental car fees, and ride-sharing services like Uber or Lyft can quickly add up. You also need to account for other transportation costs like gas, parking fees, and tolls.

Here are a few travel tips to help save money on transportation during your next trip:

Book flights in advance

You can save 10% of the cost of a plane ticket just by booking it 28 to 35 days in advance for domestic flights and six months for international travel. Airlines offer discounts for early bookings as plane ticket prices increase exponentially closer to the departure date. 

Book your flight on Sunday to save 15% off standard prices. Consider alternate airports or opt for non-direct flights for additional savings and avoid peak travel times such as holidays and weekends. Websites like Skyscanner and Kayak can help you compare prices and save money on airfare. 

Share a ride

Pooling services like UberX Share and Lyft Line let you share a ride with other passengers headed in the same direction, reducing your travel expense significantly. You can split the cost of a ride with up to four other passengers, which is cheaper than taking a taxi or renting a car. 

Ride-sharing services also might offer discounts to first-time riders and have loyalty programs that provide additional savings.

Hop on a bus or board a train

You can also cut back your travel costs by taking a bus or train instead of a plane or car rental. Rail services like Amtrak or bus services like Greyhound connect many domestic and international destinations. 

These public transportation options are convenient and cost-effective, especially when traveling with a large group. 

You can find discounted tickets for major cities at bus stations, travel websites, and local tour operators and book in advance to score round-ticket deals, including student and senior discounts.

Walk instead of taking a cab

Sometimes, walking is the best way to get around. 

If you visit a city, ditch the taxi and explore on foot. This will save you extra money and provide a unique way to explore the city. Check out local attractions, take detours down interesting streets, and explore hidden gems in your destination. Engage with the locals and learn about your destination’s culture, food, and history.

Rent a car

If you are planning an extended vacation or road trip, car rental is the most cost-effective way to travel. 

Renting a car will give you the flexibility to explore scenic routes, take pit stops, and go on impromptu adventures. Research car rental companies and compare their prices to get the best deal. Check for discounts such as loyalty programs and early booking specials. 

Before renting, make sure to read the rental agreement and understand the fees, fuel policies, and mandatory insurance.

Dining out is an essential part of the travel experience. It allows you to sample local cuisine, explore the city’s food culture, and connect with the locals over meals. You’ll want to plan for food and decide how much money you want to allocate to your meals.

Use these tips to save on dining expenses:

Visit a local supermarket or farmers market for a picnic in the park

A trip to the local supermarket, farmers market, or grocery store is a great way to pick up inexpensive ingredients for a picnic in the park. 

You can make homemade sandwiches, salads, and snacks with fresh fruits and vegetables and create a delicious picnic, saving you extra cash on your vacation that you would otherwise spend dining out at a restaurant.

Choose hotels with free continental breakfast

Nothing beats a complimentary continental breakfast. Many hotels offer complimentary breakfast that includes fresh fruit, toast, cereal, pastries, and beverages like coffee, tea, and juice. 

This is a great way to get at least one of your daily meals for free. However, if you opt for more expensive lodging like an Airbnb, you’ll have to pay for all of your meals separately — on top of the cost of the accommodations.

Top hotel brands like Choice Hotels, Hilton, Best Western, and Hyatt offer free breakfast with their hotel stays. You can also sign up for a hotel loyalty program to earn free breakfast credits, discounts, and upgrades.

Pack snacks

Pack light, healthy snacks or pre-prepared meals to avoid depleting your vacation fund.  Bring your favorite snacks, such as protein bars, nuts, crackers, trail mix, granola, or dried fruit, to munch on during the day. Consider packing a lunch box with a sandwich, chips, fruit, and yogurt for your day trips. Alternatively, you can store leftovers from dinner for the next day’s lunch.

If your food budget is already low, just doing a bit of meal prep and planning can save you considerable money and give you plenty of energy to explore and enjoy your destination.

Plan a vacation food budget

A vacation food budget is essential for planning your meals and dining expenses. This will help you stay within a budget, avoid impulse purchases, and save more money. Estimate the total cost of food for your trip and determine how much you will spend on meals each day. 

Allocate a fixed amount for your food budget each day and stick to the plan. Also, search for coupons, discounts, and deals to save on dining. In most places, you’ll be able to find somewhere inexpensive to eat that will keep you within your budget.  

Save money for traveling with Accrue Savings

Adopting creative budgeting and saving strategies like cutting back on monthly subscriptions, starting a side hustle, and reviewing your car insurance premiums will help you build a healthy vacation fund. 

Accrue Savings offers personalized savings plans to help you effortlessly save money for your dream getaway. It’s simple, secure, and convenient. 

Set up an account, deposit as little as $1, and start your journey to financial freedom. Then track your progress and earn money toward your next trip. See how our partnership with CheapOair can help you earn up to 6% cash to help you save for your dream vacation faster!

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