Travelling is a joy that many of us over 50s have earned the time and resources to enjoy. Whether it’s a long-awaited trip to Europe or a weekend getaway to the countryside, the thrill of exploring new places never gets old. However, the excitement of planning a holiday can sometimes lead to costly mistakes that can drain your wallet faster than a leaky faucet. But fear not, savvy travellers! With a bit of careful planning and some insider tips, you can avoid these pitfalls and make the most of your hard-earned dollars.
1. Heading to your dream destination
We all have that one place we’ve dreamed of visiting, but sometimes the reality of the cost can be a rude awakening. Instead of crossing Paris off your list, why not explore a ‘destination dupe’ like Montreal? With its French flair and more manageable expenses, you can indulge in the culture and cuisine without the hefty price tag. A flight to Montreal from New York City, for example, could save you hundreds compared to a ticket to Paris. And when it comes to wine regions, the Finger Lakes in New York offer a delightful and affordable alternative to California’s Napa Valley. Who says you can’t enjoy a fine Riesling without breaking the bank?
2. Choosing specific dates for your trip
Airfare can be one of the biggest expenses of any trip, but being flexible with your travel dates can lead to significant savings. Avoid peak travel days like Sundays and Mondays, which are typically the most expensive due to weekend getaways and business travel, according to 2024 data from the flight app Hopper. Consider travelling during the offseason, and you might find that visiting Santorini in January rather than July not only cuts your flight costs in half but also offers a more peaceful and authentic experience without the summer crowds.
3. Thinking holiday rentals are always the cheapest option
The rise of holiday rentals has many travellers automatically opting for an Airbnb or VRBO, but this isn’t always the most cost-effective choice. Traditional hotels, hostels, and even home swaps can offer better value. Some budget hotels provide rooms at surprisingly low rates, and family-friendly hostels in Europe can be a safe and clean option with added amenities for kids. For a truly unique experience, consider house-sitting or home swapping through platforms like Trusted House Sitters, Love Home Swap, and Kid & Coe. You could enjoy free accommodation in exchange for looking after someone’s home and pets!
4. Opting to stay in the city centre
Staying in the heart of a city can be convenient, but it’s often much pricier. By venturing to the outskirts, you’ll not only save on accommodation but also discover local eateries and shops with more reasonable prices. For instance, dining in the Bronx rather than Manhattan can halve your meal costs while offering a diverse array of international cuisines. Similarly, exploring the antique markets of St. Ouen in Paris can be a delightful and cost-free afternoon adventure.
5. Using credit to pay
While it’s tempting to swipe your credit card for everything to rack up points, this can lead to a nasty surprise when the bill comes due. Instead, use a combination of points and cash, and always compare the value of paying with points versus paying out of pocket. Allocate a cash budget for specific expenses like dining out or souvenirs to keep your spending in check.
Travelling smart is all about finding ways to stretch your budget without sacrificing the experience. What are your top tips for saving money while travelling? Share your experiences and advice in the comments below!
Also read: When is the best day to travel? Debunking myths for big savings