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7 tips to stretch your travel budget

With travel restrictions slowly lifting, Canadians can finally start planning their much needed (and long delayed!) vacations. And although it may be tempting to rush and book the first flight or vacation property you find, doing a bit of research and planning can help lower your costs, allowing you to stretch your travel budget and make the most out of your vacation. With that in mind, here are seven tips to help you optimize your travel budget:

1. Set your budget, and stick to it

The first rule when it comes to travelling on a budget is to actually create a budget. The second rule is to stick to it.

But even the best of intentions will fall away if your budget isn’t realistic. To help arrive at a reasonable budget, you need to do your research beforehand. Discovering that the budget you’ve set aside is woefully inadequate only after arriving at your destination, is sure to put a damper on any vacation.

There are several helpful websites that provide honest feedback based on first-hand experiences for practically every destination on the planet. Read what others have reported on their own journey to help you determine if this is the right place for you to visit, and if it fits within your budget.

2. Use online tools to compare flight costs

So, you’ve discovered the perfect destination. Now, let’s see what we can do to save you money on getting there.

Once again, the internet comes to the rescue with several websites such as Travelzoo and Travelocity that automatically compare the cost of flights and accommodations for you. Many airlines also offer discounts for seniors and students. If you qualify, this is another way you can save a little cash on your airfare – cash that can be better used for an extra night or two on the town.

3. Be open-minded about the destination

Unless you have a specific reason that requires you to go to a certain city, such as a wedding or family reunion, why not let the price at least partially influence where you go? For instance, cities outside the main tourist centres are often less costly for both entertainment and accommodations.

Besides, a little flexibility in your destination choice can not only save you money but may just lead to a whole new adventure you would have otherwise missed.

4. There are (less costly) alternatives to resorts

Resorts certainly have their appeal, but because most are designed to offer activities to keep you on the resort itself, you often miss out on experiencing much beyond the resort walls. Resorts can also be pricey, but with sharing economy services like Airbnb, it’s possible to rent private homes and apartments directly from the owner.

While renting a private home means you may have to cook for yourself and make your own bed, the trade-off is that you experience the area in which you’re staying in a very direct and personal way. This is a sure way to discover all that your destination has to offer, while still keeping within your budget.

5. Keep restaurant bills under control

Go ahead and enjoy eating out at restaurants. and spoil yourself once in a while. But also keep an eye out for smaller, family-owned eateries that cater to the locals. They tend to provide better value, and because food is so closely connected with culture, enjoying the dishes of the region can add so much to your stay.

6. Look for the free stuff

Most cities have events such as festivals or other attractions that are free to the public. This is yet another opportunity to discover first-hand what it’s like to be part of the local scene.

7. Forget about paying for data or phone plans

With the proliferation of free Wi-Fi spots, there’s little need to take on the extra expense of paying for an international data or phone plan when travelling. Everything from coffee shops to public libraries can provide free spots to keep you connected with friends and family at home. Please do remember to always use public Wi-Fi with caution.

When you’re ready to book your vacation, consider using a cashback credit card like the Home Trust Preferred Visa. It offers valuable benefits for travellers, like no exchange fees on foreign transactions[1], plus you earn 1% CashBack Rewards[2] on all eligible purchases. All this, with no annual fee!

The information, materials and opinions contained in this Blog are provided for your information only. This Blog does not constitute legal, financial or other professional advice and you should not rely on it as an alternative to specific advice based on your particular circumstance. This Blog contains links to third party websites. These links are provided for information and convenience; Home Trust does not endorse the content of any third party website, and it makes no representation or warranty as to the information on such third party sites. By clicking on any link to a third party site, you leave Home Trust’s website and do so at your own risk. Home Trust disclaims all liability for any damage or loss that results from your access to or reliance on information contained in this Blog or any third party site.


[1]Foreign transactions are converted at the exchange rate set by Visa International, without additional surcharge.

[2]Cash advances, balance transfers, interest, fees and foreign transactions (including online purchases in foreign currencies) are not eligible for CashBack Rewards.

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