Americans have big travel plans for 2022. Here’s how to save for your next trip
Many people put their travel plans on hold in 2020 as the pandemic raged. Even this year, some people were reluctant to jump on the travel band. Not only is the delta variant still with us, but some children are still ineligible for coronavirus vaccines.
Next year things could be different, so it’s no surprise to learn that Americans are making big travel plans for 2022.
In a recent American Express poll, 55% of people say they plan to take one to three trips in 2022. To make this possible, 52% have decided to take more vacations in 2022 than in 2021.
If you are eager to increase your travel schedule next year, you will need the cash to make it happen. Here are some tips to help you save.
1. Collect your cash bonus
If you get a vacation bonus, saving that money for future trips is a good bet. As tempting as it may be to spend that money as soon as you get it, it could go a long way towards funding a trip in 2022.
2. Save your 2022 raise
If you get a raise next year, you may be able to set aside some of that money for future trips. After all, that pay raise isn’t something you’re used to living on, so you can put that money down as soon as it arrives. Better yet, open a dedicated travel savings account, then set up an automatic transfer from your checking account to that new savings account to stay on track.
3. Treat yourself
If your travel plans involve taking multiple trips, you may need to increase your income to pay for them. An easy way to do this is to get a sideways push. There are tons of side gigs to choose from, so think about what things you love to do and how much flexibility you need in your schedule. This should help you start to narrow down your options.
4. Don’t spend so much on vacations this year
During the holidays, it can be tempting to go all out to buy gifts, parties, and decorations. But if you’re planning on traveling a lot next year, you might want to cut your budget in the short term. Rather than decorating your entire home with lights, consider a cheaper, more modest setup. Instead of a flashy party, consider a potluck holiday dinner where everyone participates with a homemade dish.
5. Use credit cards strategically
Credit cards aren’t just a spending tool, they can actually help you save money. First of all, if you use the right cards for your daily purchases, you can reap rewards in the form of cash back. This money could then be used to pay for flights and hotels. During this time, some credit cards allow you to accumulate reward points redeemable for travel. These, too, could be a way to save for your 2022 trips.
If you are looking forward to traveling a lot next year, you are in good company. Whether you want to book the trip of your dreams or a basic getaway, these tips could be your ticket to making those plans a success.