Saving in the Summer for Holiday Travel

Save Now, Chill Later: Part 3

Summer is here, and while the sun and fun are in full swing, it’s also the perfect time to start thinking about holiday season travel. Yes, it may seem early to start thinking about the end of the year but trust me, if you start saving in the summer, you’ll thank yourself later.

Here are three reasons why summer is the best time to start saving for holiday season travel:

A city viewed from above at night with lights lit up throughout.
Photo by Colin Lloyd on Unsplash

1. Take advantage of lower prices

Say it with me now: if you stay ready, you don’t have to get ready. If you start saving in the summer, when that golden moment hits for you to buy your tickets at their lowest, you’ll be ready. Caroline Tanner via The Points Guy says to book about 1-2 months in advance for domestic flights and 3-5 months in advance for international. So, break it down like this:

You start saving now (end of June/beginning of July) and you’ll have more than enough funds for that December Cali trip. You book in October (2 months early for a domestic flight) and you’re set. Your travel plans might not be as far-fetched as you thought.

2. Saving in the summer = more time to budget

By starting to save in the summer, you’ll have more time to budget for your holiday season travel. Rather than feeling the financial strain of a large expense right before the holidays, you can spread out the cost over several months. This can also help you avoid relying on credit cards or other forms of debt to fund your trip. Again, the absolute nightmare of paying for gifts AND travel (or that car we mentioned in the last article) is a full nope.

According to a US News & World Report survey via Fox Business, nearly 42% of people expected to go into debt last holiday season due to travel and gifts. By starting to save early, you can avoid becoming a part of this statistic and enjoy your holiday season without financial stress.

3. Early planning gives you more options

The earlier you start planning and saving for your holiday season travel, the more options you’ll have available to you. This includes not only the best prices but also the best seats on flights and the best rooms at hotels. By waiting until closer to the holidays, you may find that your preferred flights and accommodations are already booked up or more expensive.

In addition, planning ahead can also allow you to take advantage of travel rewards programs. Many credit cards offer rewards for travel purchases, such as earning points towards free flights or hotel stays. By starting to save now, you’ll have more time to take advantage of these programs and earn rewards that can help offset the cost of your holiday season travel.

*Bonus* Saving in the summer: story time

I, Kenneth Medford, love Japan. I have been a fan of anime since I was a kid, I love the food, and even the architecture (something I normally couldn’t care less about) is fascinating to me. This year will be my second trip to Japan and I have my flights and hotels already booked. Why so early? Because now I have the rest of the year to pay it off. I don’t have to worry about me and my girlfriend carrying that debt into the new year which will free up our tax return for growing our money instead of paying off debt. We don’t just talk the talk at, we live it.

Overall, while it may seem early to start thinking about holiday season travel, starting to save now can save you money, reduce financial stress, and give you more options. So, enjoy your summer, but don’t forget to start planning for your holiday travels now. Your wallet (and future self) will thank you. And hey, if you need more tips on traveling and saving, we got you covered right HERE. You know us, always solution-oriented.

Looking for more reasons to start saving this summer?

Headshot picture of the writer of this article, Kenneth Medford III, with a muted black and white filter.
Kenneth Medford III

Writer, rhymer, gamer: the easiest way to define the man known as Kenneth Medford. I’m a simple man who loves to learn and loves to help and I wander the digital world trying to find ways to sate my hunger for both. Basically, I’m Galactus but helpful.

Check out my other work here or reach out to me on LinkedIn.

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