Besides, some of the best bonding happens when you spend a few hours together on the road.” 3. Then you’ll have more cash for the actual trip. While cooking on vacation runs antithetical to holiday fun, eating one meal per day where you are staying will help fight inflation’s significant impact on restaurants, from upscale eateries to less expensive truck stops or food chains.Īccording to Ramsey Solutions, “Filling up your gas tank a few times is cheaper than buying a lot of plane tickets. Going to restaurants is a major attraction for travelers and often the main attraction in world-famous foodie cities. Stop Eating Out for Every Meal and Cut Out Expensive SnacksĪs the restaurant industry may never return to its pre-pandemic state, eating out continues to be pricey. Here are five things to keep in mind if you want to save money while you’re on holiday, per Ramsey’s site. With that in mind, even a “saving and investment first” expert like Ramsey has some tips on saving money on travel. However, many modern pundits suggest that spending money on experiences makes people happier than buying possessions or assets. Take Our Poll: What Kind of Money Advice Would You Most Trust From a Celebrity Expert Such as Warren Buffett, Mark Cuban or Suze Orman? “When your goal is to save money now, a vacation is the worst thing you could spend your money on,” he said, per The Motley Fool.ĭiscretionary expenses like travel take away from money you could be investing and, according to his Ramsey Solutions site, travelers tend to be carefree with their spending while on vacation, wasting an inordinate amount of money on silly purchases while away. Of course, Ramsey would prefer you to skip the vacation altogether if you are honestly trying to save money. But as financial expert Dave Ramsey stated, you can’t let a vacation mindset derail your money goals. See Our List: 100 Most Influential Money ExpertsĪccording to a recent Forbes consumer survey, an overwhelming 87% of respondents plan on travelling as much in 2023 as they did in 2022, and 49% expect to travel more. Vacationing is a luxury - if you can afford it, you can’t afford to overspend on it.įind: 6 Vacation Splurges You’ll Almost Always Regret However, for most Americans, money is tight and time is valuable. For those with money to spend and the time to spend it, the sky’s the limit.
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