Luxury travel means different things to different people. For some, it could be a five-star hotel; for others, it could be a family suite or upgraded experiences. Whichever way you define it, the good news is you can save money on your next trip and preserve more of your retirement dollars.
“If you are looking to go on a vacation, being flexible is your greatest asset,” says Jess Feldman, special projects editor at Travel + Leisure.
“According to Google Flights and historical airfare data, the cheapest days to fly are typically Monday, Tuesday or Wednesday—flights on these days have been up to 13 percent less expensive compared to traveling on Fridays, Saturdays or Sundays.”
1. Use Flight Aggregators
Whether it’s Google Flights, Expedia, TripAdvisor, Kayak or one of the other airline aggregators, searching through these services can help you find prices across multiple airlines.That gives you the ability to compare prices on flights from different carriers at different times. Using a flight aggregator will enable you to see how changes in the dates will affect the price, says Trae Bodge, a money-saving expert.
This is where being flexible comes in. If you aren’t committed to a specific date, choosing an off-peak flight can save you cash.
Don’t forget to check the airfares at the carriers’ websites or mobile apps. If you’re a frequent flyer with a particular airline, you can leverage the points you have accumulated to get money off the flight or to upgrade to a better seat, says Bodge.
2. Download a Flight-Tracking App
From Google Flights to Hopper, several apps are available that enable you to track the prices for flights over time and receive alerts when prices fluctuate. Some even predict when a flight will be the cheapest or the most expensive.3. Consider a Travel-Focused Credit Card
Whether you’re looking to lower the cost of your flight, get a cheaper hotel stay or car rental, a travel credit card can help. Many credit cards reward you with points toward travel when you use the card for everyday purchases.“Not only will an airline’s ‘miles’ credit card help you earn miles towards free flights for all the purchases and expenses you pay using the card, but some will also offer a sign-up bonus if you spend a certain amount within the first few months of account opening, which could be enough to cover your round-trip ticket or one leg of your trip,” says Andrea Woroch, a money coach.
Some credit cards offer a free companion pass each year.
4. Use Your Senior Discount
There are perks to getting older, and one is the senior discount. Not every vendor offers it, but some do, which get you discounts on airfare, car rentals, lodging and even excursions.Delta and United Airlines offer senior discounts on some flights, while British Airways offers deals to all AARP members. AARP members also get discounts at several hotel chains and car rental companies. It’s worth visiting AARP’s travel discount page to search for special deals on rental cars, hotels and air travel.
5. Try a Car Rental Hack
To save money on your car rental, Feldman suggests trying this two-minute hack: Book your car rental as soon as your vacation is planned and make sure the booking comes with free cancellation.6. Book Through a Warehouse Club
Whether you shop at Sam’s Club, Costco or BJ’s, you can save on your next trip. All three of the warehouse clubs offer a variety of travel deals, including vacation packages, rental cars, hotel stays and if you’re traveling with the grandkids, even theme park admissions.According to Woroch, you can even get resort fees waived, hotel credits for meals and cash cards. Woroch didn’t get a discount on her recent trip to Disney, which she booked through Costco, but she did get a $700 Costco Shop Card. For a trip to Hawaii, she received a $30 Costco Shop Card.
7. Consider Traveling Off-Season
If you can travel at any time, you can save serious cash on your next high-end trip if you travel during the shoulder season. Christmas break, spring break and summer are typically peak travel times, which means you’ll pay top dollar for a luxury trip.If you go in the fall when the kids are back in school or in between spring and summer breaks, you’ll likely get discounts on airfare, lodging and car rentals. The places you visit won’t be jam-packed with tourists.
“Low seasons can be tricky because the weather isn’t always ideal, but I’ve had good luck with booking just before or just after the high season, so the weather is still good and activities are still available, but the prices are lower,” says Bodge.
8. Go the All-Inclusive Route
Staying at an all-inclusive property or paying for an all-inclusive experience is not only a good way to get the most bang for your buck, but it also alleviates the need to carry a lot of cash or worry about how much each meal and drink costs.“It’s really the best way to get a strong value for the amount you pay,” says Feldman, noting that the definition of all-inclusive is changing.
9. Pack Strategically
If your luxury travel includes flying, airfare isn’t the only thing that can blow your budget—checked bag fees add up fast. In the United States, it typically costs $35 to $45 for your first checked bag and significantly more for additional checked bags.Traveling light with only a carry-on doesn’t just save you serious cash; it also removes the stress of potentially lost luggage and the time wasted at baggage claim.
Conclusion: Luxury Travel Doesn’t Have to Break the Bank
Luxury travel doesn’t have to break the bank, particularly in an environment in which travel costs remain elevated.By being flexible with your dates, leveraging loyalty programs, and planning ahead with these strategies, you can have the trip you dreamed of without sacrificing quality or dipping further into your retirement savings.
