Organize a getaway at a lower cost

As summer approaches, some may be hoping to take a cheap trip as the higher cost of living puts a greater strain on household budgets.

“If you can’t afford a five-star luxury experience, you have two choices: wait until you can or look for three- or four-star options that suit you,” says Stefanie Ricchio, a travel enthusiast who works as a chartered professional accountant.

“But your mindset has to be open to that and to different levels of experience,” she adds.

Transportation to the destination and accommodation often make up the largest portion of a small budget. Being flexible and having an open mind about destinations and travel dates can make vacations more economical, argues M^me Ricchio.

She planned a trip to New York in May, just a week in advance. Instead of flying, she opted for the train, even though it took longer.

“It made more sense for me to spend the money this way rather than taking a plane and doubling the cost of transportation,” says M.^me Ricchio. While train tickets cost only $300, travel time increased by three hours.

“I’m going to look at this as an opportunity to be able to work and earn money,” she says.

Redeem Reward Points

Next step: accommodation. Booking hotels can be expensive in large urban centers, says M^me Ricchio. She managed to use her travel rewards card for her seven-day stay in New York, bringing the bill down to $800.

Leveraging rewards and loyalty program points accumulated over time can be a cost-effective way to pay for travel.

There are many loyalty points that are best used for lodging and high-frequency flights, says Richard Vanderlubbe, president of travel agency Tripcentral.ca. But he cautions against losing a sense of value when spending points from a rewards program.

It’s important to consider the amount spent to earn loyalty points, according to Mr. Vanderlubbe.

According to him, people should ask themselves: “What would I normally pay for this and what else could I exchange with these points that might be better value for money?” »

Setting a budget is essential when you go on a trip, whether short or long.

“We need to consider a realistic budget,” recommends Mr. Vanderlubbe. There’s a certain fixed cost to get there and there’s a certain (cost) of accommodation. »

Big cities can be more expensive, while smaller towns and less touristy destinations can be less expensive, he says.

Prepare well

Planning a getaway starts with knowing what’s enjoyable for the traveler and aligning that trip with their values, says Jackie Porter, certified financial planner at Carte Wealth Management.

“Use that as a guide,” she suggests, when deciding where to go instead of focusing on someone else’s travel experience or following social media trends.

“Planning is essential,” says M.^me To carry.

According to her, it is important not to create more pressure on already burdened household budgets. This means booking in advance and scouring the internet for deals that give you the best bang for your buck.

Scouring vacation packages for deals on travel sites can also save you money. Airlines, including Air Canada, WestJet and Sunwing, offer all-inclusive packages that can be great without having to spend a lot, Mr. Vanderlubbe said.

But if the budget does not allow traveling for an extended period, M^me Porter suggests taking a 24- or 48-hour microvacation with family.

If spending time with family by the water is the goal, there are many small towns with lakes across Canada that can be visited for short trips during the summer and where to do free activities, she mentions.

Creating a list of free festivals and activities in nearby small towns and going to them at different times can still give the feeling of being on vacation without spending a lot of money, says M^me To carry.