Yahoo Finance I’m a Travel Agent: This Is the Best Money I’ve Ever Spent on Vacation
Taking a vacation can be pricey. In fact, according to a recent GOBankingRates survey, 45% of participants said they plan to pay at least $1,000 for their summer adventure this year.
It’s easy to see how the cost of travel can add up. After all, you must cover transportation, lodging, food, activities and incidental expenses.
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But, chances are, not every dollar you spend will have the same impact on your trip. You’ll probably find that some spending becomes incredibly meaningful while other expenditures don’t seem to add as much value.
We asked three travel agents about the best money they’ve ever spent on vacation. Perhaps their experiences will inspire your future excursions.
Best Money Spent on Vacation
Here’s a look at what travel experts consider “money well spent.”
Bonding Experience
David Ciccarelli, the CEO and founder of Lake, an online vacation rental platform for lakeside retreats, said, “The best money ever spent on vacation was renting a boat on Lake Muskoka, the heart of Cottage County in Canada, an area known as the ‘Hamptons of the North.’ After watching boats crisscross the lake and everyone else having fun on the water, I called the local marina to see if they do boat rentals and if you needed a boating license.
“It turns out you can get a daily boater license by passing a short written test. I booked the boat for the entire day, and it was certainly a memorable one. We rented boats for all the long weekends that summer,” he said. “Renting a boat gave our family an activity for the entire day, a rarity nowadays. It also meant that there would be limited screen time because we were cruising around the lake, sightseeing the beautiful boat houses on the shoreline and swimming by jumping off the boat.”
As a bonus, the activity ignited a new family interest. “Personally, it gave me a new skill as I had never driven a boat prior. It also led to my kids each wanting to get their boating license, which they did the following summer,” said Ciccarelli.
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Dream Honeymoon
“The best money ever spent was on my honeymoon. It was a combination of credit card points, airline miles and cash and was the perfect trip. We [spent] two weeks in Australia and five days in Fiji, and it was 100% worth it. It was worth saving up the points and miles over a handful of years so we could splurge on hotels we otherwise wouldn’t have stayed at,” said Jared Benoff, travel agent at Vacationeeze.
Benoff continued, “My wife and I both felt it was worth the splurge to fly business class using airline miles and stay at five-star hotels using a combination of points and cash. We looked at it as a ‘once in a lifetime’ type of trip to spend three weeks away together, so we strategically mapped it out!”
Family Protection
Greg Johnson, travel expert and owner of the travel agency Travel Blue Book, believes protecting his travel costs, overall finances and family is the best money he’s spent while vacationing. “One of the most important investments I make when I travel is ensuring my family is covered with travel insurance. This expense is often deemed unimportant and unnecessary, but having coverage can be financially beneficial if you wind up needing to use it,” said Johnson.
“A lot of people forget their U.S. health insurance policy won’t apply when they’re traveling abroad. If someone without travel coverage breaks a bone or needs emergency surgery overseas, they would be left to cover their healthcare expenses out of pocket regardless of the cost.
“The same applies if someone gets stranded on the side of a mountain on vacation and needs an emergency evacuation. This kind of assistance can cost tens of thousands of dollars or more, and many travel insurance policies have emergency evacuation coverage with at least $100,000 in protection (and potentially more),” Johnson continued.
In addition, Johnson explained, “Trip cancellation and interruption coverage can also come in handy if a trip is interrupted or brought to a halt completely by a covered event, such as the death of a family member or dangerous weather. And don’t forget about other travel insurance coverage that protects you when your bags are lost or stolen or your trip is significantly delayed.”
When To Splurge
The travel experts agree there’s a time to be frugal when vacationing and a time to splurge. Benoff said, “This is so personal to each and every traveler. You should splurge if you feel like it and be frugal if you feel like it. It’s your budget, and you should decide how and when you want to spend it.”
However, “I often think if it’s a ‘just because’ trip, it’s sometimes worth it to be frugal and save up for a ‘big’ trip. But if it’s a place you’ve been longing to go or a resort you’ve been dreaming of for a while, go for it! It’s cliche, but life is short, and if you want to travel the way you want to, then go for it,” Benoff said.
Ciccarelli said vacation splurges should help you create lasting memories. “I’d suggest splurging on experiences such as renting a boat or going on a dinner cruise — something that you only do once that summer.”
How To Save
There are many ways you can save money on travel. When you do, you’ll have more cash for those meaningful splurges.
Know Your ‘Must Haves’
“Knowing what’s most important to you can help maximize your vacation budget,” said Benoff. “For us, we knew we wanted to go to Fiji as part of the trip but didn’t necessarily need to have an overwater bungalow. We’d rather stay in an entry-level room at a nicer hotel than the best room at a worse hotel, so that factored into our planning. Similarly, we prefer affordable, delicious food rather than fancy over-the-top meals and knew that most of our budget would be toward the rooms and flights and we’d save on food,” Benoff explained.
Skip the Gift Shop
You probably have a shelf full of trinkets you’ve picked up while traveling, but buying more may not be the best use of your cash. “We tend to avoid wasting money on frivolous souvenirs that lack meaning and inevitably break or get lost,” said Ciccarelli.
Don’t Over-Plan
Packing your vacation itinerary full often leads to overspending. “Sometimes the best way to make the most out of your budget is to leave room for imagination,” said Benoff.
“There’s nothing like spending a day just walking around exploring neighborhoods. I always recommend clients leave a few days completely open so they can either fully relax, follow the recommendations of locals or just let adventure take hold in the moment,” Benoff said.
Get Back to Nature
Soaking in the wind and sun is free. “Find one activity for the day that includes a lot of time outside. Hiking a challenging trail and packing snacks is a good idea, as is a fishing trip. Camping is also a good way for money to go a long way as tenting is far cheaper than staying in a hotel,” advised Ciccarelli.
Be Flexible With Your Schedule
Being willing to adjust your vacation plans even slightly can result in significant savings. “I’ll often have clients reach out saying they want to go away for two weeks with a set budget. Often, the easiest way to cut a significant portion of that budget is by cutting a night or two off the itinerary,” said Benoff.
Benoff has also personally experienced the power of flexibility. “We rearranged the [honeymoon] schedule a few times based on hotel pricing and when we could get business-class seats to Australia. We were fortunate to have the flexibility but knew that our patience and flexibility would pay off in the end,” he explained.
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This article originally appeared on GOBankingRates.com: I’m a Travel Agent: This Is the Best Money I’ve Ever Spent on Vacation
