3 Travel Tips That Don’t Involve Opening a Credit Card

Traveling can be expensive, but with the right strategies, you can maximize your budget and make your trips more affordable. Here are three essential travel hacks that will help you save money without having to open a credit card.

1. Prioritize Your Travel Budget with a High-Yield Savings Account

The word “budget” can feel limiting or even cringy to some. However, changing your perspective on budgeting can make a world of difference. Instead of seeing it as a restrictive adjective, think of “budget” as a verb—an action that empowers you to allocate your money toward experiences that matter most.

One of the best ways to ensure you have enough money for your travels is to create a dedicated travel fund. Instead of letting your money sit in a regular savings account, consider opening a high-yield savings account with banks like Ally, American Express, or Marcus by Goldman Sachs. These accounts offer significantly higher interest rates than traditional banks, allowing your money to grow passively over time. By consistently contributing to your travel fund, you’ll be better prepared to book trips without financial stress.

2. Open a Loyalty Account with Your Preferred Airline

If you frequently fly with a particular airline, signing up for their loyalty program can save you a significant amount of money in the long run. These programs allow you to accumulate miles for every trip you book, which can later be redeemed for free or discounted flights. Many airlines also offer perks like priority boarding, free checked bags, and access to exclusive deals for loyal members. Even if you don’t travel often, these miles add up over time, helping you cut down on future travel costs.

3. Use a Checking Account That Reimburses ATM Fees

International ATM fees can quickly add up, making withdrawing money while traveling unnecessarily expensive. Some ATMs charge up to $8 per transaction, and on top of that, your bank may add an additional foreign transaction fee. This means that withdrawing $100 could actually cost you $113 or more! To avoid these fees, consider opening a checking account with a bank that reimburses ATM fees worldwide, such as Charles Schwab or Fidelity Cash Management. This way, you can access your money without worrying about extra costs every time you withdraw cash abroad.

Bonus Hack: Strategic Planning for Budget-Friendly Travel

Remember my 48 hours in DC post? I was able to purchase bus tickets for as low as $10 round trip because I started scouting out prices at least four months in advance. Had I planned the trip on a whim, my round-trip cost could have been between $40-$60. The same principle applies to flights—booking months in advance can often save you a significant amount of money. The earlier you start planning, the better deals you can secure!

By implementing these simple travel hacks, you can save money and make the most of your travel budget without relying on credit cards. Happy travels!

Yours truly,