25% of People Think They Can’t Afford to Travel: 5 Ways to Make Travel More Affordable

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A recent study found that for 25% of travelers, a lack of money could keep them from traveling in 2024. Find out how to travel more affordably this year. [[{“value”:”

Many people put off travel for financial reasons. Before spending money on a vacation, it’s wise to consider whether you can afford it. But if you’re delaying making plans because you assume travel is out of your budget, you should know that affordable travel options exist. I’ll share a few ways to travel without spending beyond your means.

25% of travelers think a lack of money will limit travel

Going (formerly Scott’s Cheap Flights) is a flight deal service helping travelers score cheaper airfare. The company’s The State of Travel in 2024 report examines the current travel climate.

Travelers were asked to provide information about their 2023 travels and whether it matched the initial expectations they had in mind for the year. They were also asked to share their expectations for 2024 travel.

The study found that for 82% of respondents, travel remains a critical or highly important factor in their happiness this year. Study respondents were asked to share what barriers they expect to keep them from traveling in 2024.

A lack of time off from work or school and a lack of money remain top concerns for travelers, as they were in 2023. In fact, 25% of respondents worry that a lack of money will keep them from traveling in 2024. As everyday costs rise, it’s understandable that people are concerned about the affordability of travel.

Always keep your finances top of mind

It’s essential to consider your finances before making any money-related decisions, including making travel plans. Before taking a trip, check your bank account balance and consider your upcoming expenses to decide if you can afford to travel.

If you’re feeling discouraged, don’t fret. You can start saving for a future vacation. Opening a high-yield savings account is recommended if you’re building a vacation fund. You’ll earn interest while your money sits in the bank.

Even with a minimal budget, you can prioritize travel. It’s possible to plan an exciting travel adventure without racking up expensive credit card debt.

Here are a few suggestions to make travel more affordable.

1. Seek out flight deals

Before booking airfare, look for flight deals. Pay attention to social media posts and email newsletters from your favorite airlines so you don’t miss out on extra discounts. You can also subscribe to airfare deal services to receive flight deal alerts by email. Going is one example of a company that provides this service.

2. Put your credit card rewards to use

Using rewards credit cards to pay for everyday purchases can be a win for your wallet. Many travelers redeem their credit card rewards points or miles for free or nearly-free travel. Review our best travel rewards credit cards list to explore your options.

3. Travel closer to home

You don’t have to travel far to explore new places. Staying closer to home is one way to keep your travel costs reasonable. Consider planning a road trip if you want to avoid pricey airfare.

4. Use a search tool to compare prices

You can use technology to your advantage. Pricing tools like Google Flights can help you compare prices between multiple carriers. Google also has hotel pricing comparison capabilities. There may be cheaper options available than you’d expect.

5. Travel in the low season

Another way to keep your travel spending in check is by planning your adventures in the offseason. You’ll pay higher prices when traveling during the spring and summer when many other people also take vacations. But off-season travel can be cheaper, and you’ll likely deal with fewer crowds and shorter lines.

Try out these tips as you outline potential travel options for 2024. Always keep your finances in mind, and be strategic when making plans to look for ways to keep your spending to a minimum. For additional tops, check out our personal finance resources.

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