How to Save Money on Travel
Smart Tips from a Financial Advisor Who’s Traveled the World
Travel is one of the greatest joys of life—but it can also be one of the biggest budget busters if you’re not careful. As a couple who has traveled extensively with our kids (over 20 countries and counting), we’ve learned how to explore the world without draining our savings. Whether you’re dreaming of a European vacation, a national park road trip, or a long-haul family adventure, smart planning can help you stretch your dollars further. Here are our favorite strategies, based on real-world experience (with no affiliate links or fluff).
Our Travel Story (and Why We Care About Budgeting)
In 2012, we took a sabbatical to travel to 15 countries in Asia, Africa, and South America while making a documentary about LGBT leaders around the globe.
In 2016, Jenni’s job took us to Switzerland for three years, where we soaked up all things European. Then in 2020, we moved to Taiwan to give our kids a bilingual education and explore Asia.
Now that our business is location independent, we live in San Francisco and travel 2 months per year while our kids are on school break. Travel hacking and smart budgeting have helped us make it possible—without compromising our long-term financial goals.
1. Avoid Foreign Transaction Fees
Foreign transaction fees are extra charges that some credit cards tack on when you make a purchase outside your home country. They usually range from 1%-3% of the purchase amount. Here’s how we avoid that:
- You may already have a credit card in your wallet that doesn’t charge foreign transaction fees. The Costco Anywhere Visa Card does not have foreign transaction fees.
- Your Costco membership card also gets you in the door of any Costco location in the 14 countries where they operate. When we spend this summer in Taiwan, we’ll definitely swing by Costco to save on some basics in bulk.
2. Use Google Flights to Find the Best Deals
Flights are often the biggest expense. Google Flights is our go-to tool:
- We love the “Explore” feature to which allows you to choose the region + date and then sit back as Google shows you opetions for trips based on the best airfare. We went on an unexpected side trip to Borneo once by discovering a non-stop cheap flight using this tool while we were in Asia.
- Track flights so you know when you’re getting a good deal. This features tells you the typical range of cost fo the flight and when it has historically been the cheapest time to book. You can also search for off-peak days.
This 11-minute video teaches you how to book cheap flights, especially if you are open to the destination or timeframe.
3. Organize Your Travel Rewards
Do you have airline miles or hotel points that you could use to offset costs? This free tracker can organize all your points and credit cards. The tracker highlights when you should use a different credit card to earn increased points and sends you expiration reminders so that your points don’t expire.
- Get reminders for expiration dates.
- Optimize spending by using the right credit card at the right time.
4. Learn to Earn and Redeem Points Like a Pro
Seven years ago, we took this free online course on travel rewards, and it changed how we travel and use credit cards
- We now fly internationally once a year using points.
- Last year, we enjoyed nine free hotel nights thanks to smart point redemptions.
Caveat: This isn’t for everyone. If you struggle with credit card debt or tracking spending, skip it. But if you love organizing and have flexible travel plans, it can be a fun, rewarding system.
5. Bring a Carry on, not a Checked Bag
One of our happiest travel experiences was traveling as a family of four to Japan with only carry on luggage. After many years of heavy travel with strollers and car seats, it felt radical to have the kids push their own luggage and walk through an airport with a coffee in hand.
Traveling light not only helped us to avoid luggage fees, but it simplified everything about our travel experience enabling us to take public transportation, pack quickly, and not be tempted to buy too much.
Make Travel Part of Your Bigger Financial Plan
Travel can be a luxury, but it doesn’t have to break the bank. By aligning your trips with your values, goals, and budget, you can experience the world without financial regret.
Let us know how these tips go, and happy travels!
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