Did you know that it will cost you almost 14 percent more to fly this year? Air travel, car travel and many other vacation expenses will cost you a lot more today versus last year. I’ll explain why there have been such large increases and how you can still save despite the inflation.
Bankrate recently took a look at the consumer price index and also pulled out a few numbers of their own to compare the actual costs of common summer favorites, such as travel. They report that airfare is 13.8 percent due to airlines grounding planes instead of trying to fill half-empty ones. Another 13.8 percent increase goes to hotels, although that is the increase since January alone!
Traveling by car? Expect to pay 27 percent more for your gas (and you thought prices weren’t too bad), 4.4 percent more for oil and 3.7 percent more for parking fees and tolls.
So, how can you save despite all of this?
The best way to start is with a budget. Decide exactly how much you can afford for your vacation and then stick with it. This will help you make some hard choices. For example, if you have young children, you may want to pay more for a direct flight to your destination but spend less of the budget on the hotel itself. A couple without kids may enjoy more luxury in their hotel room and nice dinners out but could cut back on the flight and or extra activities.
Next, be vigilant about finding deals. While their may be less of them out there, deals can still be found if you take the time to do your research. Travel on off peak days or months, or combine your vacation with friends or family to get a group rate.
Watch the cost of food. Vacation food can quickly add up, yet it is one area where you can have some good control of the cost. Spending a little more for a suite with a kitchen may pay off, but calculate carefully. Build in lots of picnic lunches and food that you can eat in your room or car, such as cereal for breakfast.
Finally, skip the nonessentials, such as expensive souvenirs or package upgrades. We tend to have a devil-may-care attitude on vacations, because it is a time of relaxation. But if you don’t keep the expenses under control, you may have a bigger headache after the vacation is over.
You can read more blog posts by Mary Ann Romans here!
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