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How Millennials Can Save Money While Satisfying Their Wanderlust

Updated on June 2, 2017
Millennials feel the travel bug so strongly that they make up 20 percent of all international travelers these days.
Millennials feel the travel bug so strongly that they make up 20 percent of all international travelers these days. | Source

My urge to see the world is a strong one. And I’m not alone. In fact, Millennials feel the travel bug so strongly that they make up 20 percent of all international travelers these days. With increasingly flexible work hours and growing opportunities to travel, they’ve become a generation hungry for diverse experiences, spending most of their workdays anticipating the next adventure.

That hunger is a defining trait. More than any other generation, Millennials travel more for self-discovery than for “vacationing” in the traditional sense. They’re the most socially engaged generation, thanks to internet-connected technology. They visit places to learn about their people, cultures, and hidden treasures more so than to experience tourist-dedicated resorts.

Traveling has become an essential part of Millennials’ self-growth. For many, it’s even more important than buying a home. Despite this fact, money is a bigger obstacle than time when it comes to planning trips. It’s important to approach travel with a focus on value. The more you save, the more you can experience — not to mention the faster you can plan your next adventure.

In many cases, travel booking sites can simplify the process by pooling extensive research and planning resources.
In many cases, travel booking sites can simplify the process by pooling extensive research and planning resources. | Source

Getting More Bang for Your Travel Buck

Almost everything is possible online these days. However, hunting for the best travel deals can sometimes seem daunting. In many cases, travel booking sites can simplify the process by pooling extensive research and planning resources. It pays, however, to make sure you’re getting the best deal on everything. This may take a little more work on your part, but it will help you get the biggest bang for your travel buck.

1. Take the path (or season) less traveled.

Traditional vacations are planned around holidays and seasons. That’s why airlines and hotels maximize their profits by hiking their prices during these peak vacation times.

For the lowest rates, plan to travel in the off-season. Keep in mind that this may change depending on the location you’re visiting. Because it won’t be peak tourism season, you may find greater discounts by booking your travel and housing accommodations separately.

2. Plan your trip all year long.

There are several things you can do throughout the year to help bolster your savings once it’s time to hit the road. For instance, you can sign up for a credit card that offers travel rewards for every purchase.

You don’t have to go overboard to enjoy the savings. Many people are surprised at how much the rewards add up when they use the card for everyday purchases throughout the year.

3. Beware shiny object syndrome.

Because Millennials value experience and self-discovery above all else, it’s OK to forego the best of everything. Traveling at less convenient hours, relying on public transit instead of renting a car, and choosing a well-reviewed hostel instead of a five-star hotel can save you several hundred dollars (if not more).

That mantra should extend to your luggage. Focus on bringing only the essentials. This way, you can keep your luggage to a single carry-on. In turn, you’ll avoid the exorbitant costs that usually accompany checking extra bags. If you must bring an additional bag, try to find an airline that will allow you to check it for free.

Adventures appeal to almost everyone. By focusing on experiences over more conventional vacations, you can afford to enjoy more of them than you may have thought possible.

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