3 Financial Tips to Help You Travel More in 2022
On the top of many new year's resolution lists, you will consistently see “Travel more” listed as one of the top items. Travel is something sought after by much of the world's population. The desire to see new places and experience new things is something most everyone can see value in and if you are reading this article, you are surely in the same boat!
In an article by Forbes, it stated that 76% of people wanted to travel more than they currently do and 60% of people had a list of places in mind that they’d like to see. Nothing up until now should come as any surprise, but what I did find surprising was this part of the article…
- 11% of people have never traveled outside of the state they were born in
- 54% of people said they have visited less than 10 states
- 13% of people never flew on airplane
- More than 50% of people said they never have owned a passport
Some of these things obviously more surprising than others, but all in all it is a bit shocking. While I know some people don’t travel, I didn’t quite realize how many people didn’t.
Further reading into the article described reasons why people don’t travel, and it is “Mainly due to a lack of finances or just feeling unprepared and ill-equipped to venture forth into unknown territory.”
It is hard to put myself back in the shoes of someone who has never traveled. Traveling is such an integral part of my life and with 14 trips alone in 2021 (during a pandemic), it's really hard to remember a time before this. Even as a young kid, my mom didn’t have a lot of money, but every summer she would find a way to get us somewhere and it was always a great time. So with this being the case why aren’t people able to make it happen??!!
I think the biggest thing comes down to knowledge and action. People in even the lowest income classes find a way to travel, sometimes even several trips a year. So even if money is tight, I promise you that travel is possible.
The first trip I did without parents was a road trip to Colorado, Vegas and California for 2 weeks after graduating high school with 2 friends of mine. We had no plans and we had very little money (At the time I was surviving off money made selling door to door fundraising cards for $5 a piece). We got on the road with a basic timeline of where we were going and that was it. It’s certainly not recommended to just throw yourself out there and hope for the best, but I just want to express to you that if I was able to do it, you certainly can too!
Now that you have a little hope for your travel goals this year, here are the tips you have been waiting for.
1. Travel in groups of 4
It is simple math. If you book a car, it is generally going to have 4 to 5 seats in it. The car is charged a rate which is not based on the number of people. So whether you have 1 person or 4 people it will be the same rate and $400 for one person is way more expensive then when it is divided by 4 people.
The same concept is usually applicable to hotels as well. Hotels will usually increase the price a little for each person, but even if the rate were to double, ($100 for one person vs. $200 for four people), it almost always will come out cheaper for 4 people. Once you move up to 5 people, most hotels either don’t accommodate or require moving up to a suite that would be required to accommodate 5 people and therefore usually comes out a little more expensive per person than 4 people.
- This rule is helpful when renting cars and booking hotels in most situations. For 1 or 2 person travels, hostels can be very advantageous.
2. Track Flight Prices with Google Flights
To this day, even though my income has significantly raised since starting traveling, I always like a good deal and I believe most people are in line. For some people a good deal is the determination on whether or not they travel at all. This being said, one of the most expensive parts of a trip can be your flight, especially when going international so finding a deal hear is critical.
Google Flights is one of my favorite travel tools and it is completely free. One of the features of Google Flights is the ability to track flight prices and be updated via email when these prices change. If you have some trip ideas, but still waiting around go ahead and set trackers on all your potential flights. Not only do these email reminders let you know flights prices are changing, but they also are a reminder to get your trip booked. Booking trips for me at this point is habitual, but for some it's a daunting task and can be easily put on the backburners of everyday life. With Google’s flight tracking you will consistently be reminded to get your flight booked (and hopefully before prices shoot up).
3. Budget BEFORE Your Trip
Traveling is incredible, but for the most part it isn’t cheap. Lodging, transportation, food, activities, shopping, etc. Truth is travel racks up quick when you aren’t setting yourself a budget on your trip. I hear people talk about places they want to go all the time but have absolutely no clue how much a trip there would cost. This is one of the most important steps in traveling and as easy as it sounds, it can be easily neglected. So here are some pointers for planning.
- How much is the flight going to cost?
- How much will your lodging cost? (short-term rentals, hotels, camping, hostels, etc.)
- How much will you spend per day on food?
- Are you going to do any activities? How much will they cost?
- Will you be picking up any souvenirs or other shopping?
- Are you factoring tips into all of these prices?
- Do you have any emergency money planned in case something happens on your travels?
- Will there be any foreign transaction fees on your cards?
Once you have a good idea on your trip and what it will cost go ahead and add 10% more. It is better to be safe than sorry and you never want to be stuck somewhere without adequate funds.
Now that you have a rough number in mind, how long will you need to set aside this much money? If your trip is going to cost $2,000 and you can only set aside $200 per month then this won’t be feasible until likely the end of this year or the following. You must also keep in mind that flights and hotel prices fluctuate especially during the holiday season so make sure you are researching accordingly.
Traveling is a fantastic goal for the year of 2022 especially after so many people have withheld for doing so over the past 2 years with the pandemic. With these 3 simple tips you can save money and properly prepare for a new year of travels!
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Thank for reading and I hope you have a wonderful day!