One of the great things about retirement is that you finally have the time to travel and see the world. But if you’re on a fixed income, it can be hard to afford all those expenses. Bill Schantz of Mid Atlantic Financial LLC offers some practical tips for traveling on a budget in retirement.
10 Tips For Traveling
- Plan your trips carefully. When you’re retired, you have the luxury of time, so you can take your time planning out your trip. This means you can look for deals on flights, hotels, and rental cars. You can also use budget websites to compare prices and find the best deal.
- Use rewards points. If you’ve been diligent about using credit cards with rewards programs, now is the time to cash in those points. You can use them to cover the cost of flights, hotels, and even rental cars.
- Get a travel credit card. If you have no rewards points, consider getting a travel credit card. These cards often come with sign-up bonuses that can be used to cover the cost of airfare or hotels. And, they usually offer other perks like free checked bags and priority boarding.
- Stay in hostels or Airbnb rentals. When traveling on a budget, saving money on accommodation is essential. One way to do this is to stay in hostels or Airbnb rentals instead of hotels. This can be a great way to meet other travelers and save money simultaneously.
- Eat like a local. Another way to save money on your trip is to eat like a local. This means avoiding tourist traps and eating at local restaurants instead. Not only will this save you money, but it’s also a great way to get a taste of the local cuisine.
- Take advantage of free activities. When you’re traveling, there are often plenty of free activities to take advantage of. This could be anything from visiting a museum to taking a walking tour of the city. Doing some research before you head out can help you find all the best free things to do in your destination.
- Travel during shoulder season. If you’re flexible with your travel dates, consider traveling during shoulder season. This is the time between peak season and off-season when prices are often lower. For example, traveling to Europe in the spring or fall can be a great way to save money.
- Use public transportation. When you’re retired, you don’t have to worry about getting to work on time, so you can take your time exploring your destination. This means you can use public transportation instead of renting a car. This can save you both money and hassle.
- Get travel insurance. When planning a trip, it’s essential to get travel insurance. This will protect you in case of any unexpected medical expenses or cancellations. Be sure to read the fine print carefully to know what’s covered and what’s not.
- Join a travel club. If you love to travel, Bill Schantz recommends joining a travel club. This could be anything from a meet-up group to a subscription-based travel club like AAA. Travel clubs often offer discounts on hotels, car rentals, and attractions. And, they can be a great way to meet other travelers with similar interests.
Final Thoughts
According to Bill Schantz, traveling is a great way to see the world and learn about new cultures. But, it can be expensive if you’re not careful. These tips should help you travel on a budget in retirement. Just remember to take your time, do your research, and have fun!