Summer is upon on us which is the perfect time for a vacation! “According to a survey by AARP, 99% of baby boomers traveled for fun, with the average senior taking five trips.”1 But if you desire to travel during your golden years, you’ll need to implement that into your strategy because traveling isn’t cheap. To help make this dream more attainable, here are a few tips to make traveling easier on your budget.
One way to travel on a budget is to travel locally. There are many awesome destinations right here in the U.S. that are worth being on your bucket list and reasonably affordable. You can visit big cities like New York, the Southwest desert, or the beaches of Florida. Many people even opt to take a cross-country road trip. There’s also nothing better than just going to visit the grandkids. If you still want to travel abroad, you can find destinations with a lower cost of living and go for an all-inclusive package or go during off-season times.
If you want to split travel expenses, going with a group is a great option. You can save money and share memories with loved ones. You can also find group discounts for many activities while on your trip. Many people use their annual trip as a family reunion to spend time with family they don’t get to see often. So, find your travel buddies or take the family along and find your perfect destination.
There are many credit cards that offer travel rewards including Discover, Capital One, and Bank of America, just to name a few. You can rack up points with purchases and use those points to book flights and hotels. Airlines are also in on the rewards game with frequent flyer miles, and many hotels offer senior discounts and discounts for certain times of year. You can even visit the AARP travel center for more resources. With so many options out there, you just have to find the right rewards program for you.
If traveling is a priority for you, you should speak with your financial professional to see how you can implement this into your financial strategy. They can help carve a path to meet your financial goals. Besides that, you can take steps to travel more economically by traveling small, going with a group, and taking advantage of rewards programs. We hope you enjoy your trip!
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