Holiday travel is stressful and expensive enough. From flight delays to traffic and family drama, many people find themselves dreading the upcoming holidays. Then, add in travel disasters that can cost you more than you were anticipating. In an instant, your budget can be completely blown. Don’t fall for these money mistakes like others have this holiday season.
1. Packing Dilemmas
Are you flying for the holidays? With all the holiday gifts that you may be traveling with, packing may be tricky. If you plan on bringing perfectly wrapped gifts in your luggage, don’t! TSA has a right to unwrap any packages. Plus, if you don’t weigh your luggage you’ll probably be hit with baggage weight limit overage fees. Even worse, what if your bag gets lost? Buying new presents for the whole family sounds very pricey. Instead, the more prudent course of action is to ship any presents to your destination.
Beyond gifts, many people make the mistake of under-packing for a vacation. Usually, it’s to avoid bag fees on carry-ons or checked bags. Are you headed somewhere tropical this holiday? That doesn’t mean you don’t need a jacket! Check weather reports to make sure you’re packing appropriately. After all, buying a jacket will probably cost you more than the bag fee that you were avoiding. The same is true for toiletries. If you’re staying at a resort, the cost to buy any forgotten items will add up quickly.
2. Forgoing Travel Insurance
Things happen. From illness to trip delay or lost baggage, travel insurance doesn’t seem necessary until you need it. There are so many horror stories about people traveling without insurance and how insurance saved them thousands of dollars when traveling disasters happened. Especially if you are traveling abroad, insurance is a must and isn’t that expensive in the long run.
3. Choosing The Wrong Accommodations
Everyone has must-haves when it comes to booking a hotel. However, if you’re looking to save money you may actually end up spending more in the long run. For example, if you travel to Disney World this holiday you may think you’re saving money by staying at a less expensive hotel. But did you calculate the cost of transportation and parking? In the end, staying on Disney’s property may be the less expensive option. Hidden costs like this can easily blow your budget. Be sure to keep every small cost in mind when you are calculating your expenses.
4. Blindly Following Other People’s Advice
Do you follow travel bloggers and influencers? Don’t let them influence your holiday travel plans. One study found that 78% of Americans admit that influencers have inspired them to visit destinations, attractions, or restaurants that weren’t originally in their plans. Additionally, nearly 6 in 10 have felt misled by travel influencers at least once. One traveler detailed her disappointing experience when an influencer didn’t disclose the logistical hassle and cost of traveling the Amalfi Coast. You could end up spending thousands on itineraries someone else created for you, only to be disappointed. Remember, things posted online are usually romanticized.
5. Booking at The Last Minute
Booking at the last minute will almost always cost you more money, especially during the holidays. Instead, make sure to track prices over time. A good rule of thumb is to book at least 30 days before your trip if traveling domestically. You can easily set up alerts for when prices are at their lowest with sites like Google Flights and Kayak. If you’ve missed your chance at booking cheap tickets, then you can consider standby flights or flexible arrangements that tend to decrease the price of your trip.
6. ‘Charge It’ Mentality
Just because it’s the holidays doesn’t mean that you should completely avoid your budget. Many people just throw expenses on their credit cards, only to deal with the financial strain later. Destinations like Disney World make this easy. Between park passes, eating at the parks, hotel fees, and souvenirs, things stack up quickly. However, the park has wristbands that you can scan for any purchase you want to make. So, you don’t even realize how much you’re spending until it’s gone. If you really want to combat the “charge it” mentality this holiday season, set spending limits and stick to them. Using cash is the best way to closely monitor how much money you are spending.
Don’t Fall for Holiday Travel Money Mistakes
While the holidays can make us very nostalgic and wire us to spend more. Nevertheless, don’t let yourself blow your budget on holiday travel. In the end, you’ll be happy that you aren’t in over your head with debt.
What’s the worst money mistake you’ve made during the holidays? We’d love to hear from you in the comments.