6 Expert Tips to Travel Smart and Stay out of Debt

Epoch Times

27-05-2025

Ana Staples
Bankrate.com
Traveling for vacation gets expensive fast.
It's no wonder more than half of U.S. adults (54 percent) are planning to skip travel altogether this summer, according to Bankrate's Summer Travel Survey. And of those who do plan to travel, almost a third (29 percent) are expecting to go into debt to pay for it.
Many Bankrate experts have a rule not to carry a credit card balance, but we sure love to travel. And I'm going to share with you our favorite tips on how we make vacations happen without going into debt.
Plan Far in Advance
It's such a romantic notion to fly somewhere on a whim. I'd love to be that person who suddenly decides on a Friday night to spend the weekend in Spain and then simply does it. Sadly, that would put me in the kind of debt I can't afford.
If that's true for you too, plan as far in advance as you can, says Bankrate's credit cards writer Ryan Flanigan.
'You can often get better prices or availability the further out you book,' Flanigan explains. 'Also, you can budget how much you need to save or make a plan to earn the miles and points you need for your trip.'
Use Credit Card Rewards
Speaking of rewards credit cards, I would be able to afford very little travel without them. For that reason, I try to book flights and hotels for every trip with points and miles.
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Sarah Gage, Bankrate's credit cards managing editor, does the same.
'That way, my only expenses are food (outside of what I can get for free at the hotel), transit and excursions,' she says. 'It's not always doable—we're going to VidCon this year, and there's no way to do the hotel on points, for example—but it makes a major difference in the overall number and quality of trips we can take.'
Besides, travel credit cards, as well as hotel and airline loyalty programs, sometimes offer extra perks. For example, I greatly enjoy expedited airport security and lounge access that comes with my Capital One Venture X Rewards Credit Card.
Bankrate senior writer Katie Kelton earns her points with Southwest. Doing so gets her some free travel as well.
'Lately, my boyfriend and I have been making good use of the Southwest Companion Pass!' she says. 'It's gotten us to Hawaii and Montana just this year.'
Have a Separate Savings Account
It's best to save cash for everything that you don't pay for with rewards. Think the portion of the hotel costs you don't have enough points for, food, entertainment, shopping, and anything else you want to do on your vacation.
I like to keep my travel fund separate from my emergency savings. This is the money I save specifically to spend on vacations without feeling guilty for touching my rainy day fund. It helps to compartmentalize and keep things structured.
For both my emergency fund and travel fund, I have high-yield savings accounts. This type of account tends to offer much higher returns than a traditional savings account.
Be Open-Minded on Destination
Certain places are more expensive to go to than others. But spending less money doesn't mean you'll leave with fewer amazing memories.
'I'm a fan of letting the deal plan the trip,' says Brooklyn Lowery, a senior editor on Bankrate's credits cards team. 'We have some places we know we want to go, but we're also just travel-curious. If I spy a great flight deal—either points or cash—I'm likely to say, 'Let's go there!' and figure out the details later.'
Lowery notes that such an approach doesn't always lead to the cheapest option overall, but the random destinations they've been to have never been disappointing.
Liza Carrasquillo, a credit cards editor for Bankrate, also likes to rethink destinations.
'I can't afford to go to Japan to see the cherry blossoms right now, but I can take a long drive to Washington, D.C.,' she says.
Be Flexible With Timing
It helps to be flexible with where you're going—as well as when you're going there. For example, traveling during any kind of major holiday might save you some paid time off. The problem is, many people have the same idea. This causes increased travel demand and, as a result, higher airfare prices.
Kelton also suggests traveling during the offseason, 'like eyeing Portugal in the early winter.'
It also matters what day and time you're traveling, notes Carrasquillo. 'Flying super early or on red eye flights, as well as flying out during the week, can save money,' she says.
Seek Ways to Bring Costs Down
Finally, there are ways to bring your traveling budget down that go beyond flights and accommodations.
Kelton offers some examples.
'I also often book with Turo because it's cheaper and has better options than traditional rental car companies,' she says. 'And I opt for Airbnbs because you can find unique, cool stays for as good or better prices than hotels.'
I also like to get creative when it comes to saving on travel. For instance, I went to Germany for nine days last year and spent under $500. I used public transport and walked a lot, ate like a local and shopped for groceries. It was as unforgettable as it was inexpensive.
The Bottom Line
A vacation can be a tough thing to afford if you're hoping to travel. Plenty of people are even willing to go into debt for it—but it doesn't have to be that way. From planning far in advance to using credit card rewards and staying flexible, there are steps you can take to make your vacation happen without running a balance. Safe travels!
Copyright 2025 Bankrate.com. Distributed by Tribune Content Agency, LLC.
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