Holiday Travel Is Up $160+ Per Person, Here Are Tips To Save

According to data compiled by AAA, Memorial Day travel bookings are up 122%, while the average ticket price has risen by $160 from 2021.

With nearly 60% of Americans planning to travel this Memorial Day weekend, are families planning their finances accordingly?

Below are some must-know money-saving tips for your holiday travels this Summer from the leading digital banking platform, Monifi.

Plan Ahead

If you’re planning far enough out, you can utilize platforms such as Monifi, to create saving buckets that allow you to put money away over time to meet specific saving goals! Plane, hotel, and rental car rates tend to get higher the closer you get to your travel date, so the further out you book, the more likely you are to receive the best deals.

Research Available Offers

Large airlines will oftentimes offer airline/hotel/rental car packages which can save you up to 40%.

Utilize Those Miles

Many families look to save up their airline miles. Still, with a large influx of travel, many airlines are expanding their mile offerings with no black-out or expiration dates, as well as low purchase fees for additional account miles. With rising travel fees, this is the time to utilize those perks you’ve been holding onto.

Recognize Potential Splurges

Statistics show that 68% of people overspend when on vacation. Identifying the potential splurges like an expensive dinner, Uber rides, or coveted experience before your vacation will set you up for success. Having a savings net to lean back on is always a good idea – especially for last-minute opportunities.