Have you tried to get away this summer? If so, you’ve probably noticed that travel prices are through the roof.
Booking site Hopper.com notes that domestic airfares are up 16% compared to 2019 and weekend hotel rates are 29% more than they were in mid-2021.
What can you do if you get a touch of wanderlust without a thick wallet? In this podcast, we’re going to look at how you can make the most of travel, even while prices are high.
Stacy Johnson and financial journalist Miranda Marquit are joined by producer and novice investor Aaron Freeman. This week’s special guest is Lee Huffman, from BaldThoughts.com and the host of the podcast We Travel There.
Remember, even though we sometimes talk about specific investments on this show, don’t take them as recommendations because they’re not. Before investing in anything, do your own research, and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article, or download it wherever you get your podcasts:
Why is travel so expensive?
Sure, inflation is an issue, but is that the only reason travel is expensive? And what can you expect?
- We’ve got the scoop on why travel might cost more this summer.
- If you’re worried about inflation in general, we have a podcast episode that addresses inflation and how you can manage it in your own life.
- Using a travel site? Watch out for how they can sneak in higher costs.
- Pay attention to these hidden costs that can increase your travel expenses.
- Did you change your travel plans for summer? Forbes reports that more than 50% of people cited costs for changing their plans.
How to save money on travel
Don’t get stuck paying more than you should for travel. Here’s what you need to know about getting better deals — no matter when you decide to take a trip.
- Looking for ways to cut your travel costs? Check out these 10 ideas for reducing travel expenses.
- Want a better hotel experience? Check out our article on the best bargain hotel chain.
- Food can be a huge cost when you travel. We’ve got you covered with these 10 tips for saving on food while you travel.
- Hoping to travel abroad? You might be surprised at how little it costs. Plus, we’ve got a podcast episode on how you can travel abroad for weeks at a time without breaking the bank.
- Avoid these travel mistakes that can cost you money — big time.
Meet this week’s guest, Lee Huffman
Lee Huffman spent 18 years as a financial planner and corporate finance manager before quitting his corporate job to write full-time in 2018. Lee has been writing about early retirement, credit cards, travel, insurance and other personal finance topics since 2012.
He enjoys showing people how to travel more, spend less and live better through the power of travel rewards. When Lee is not getting his passport stamped around the world, he’s researching methods to earn more miles and points towards his next vacation.
His writing can be found on many popular travel and credit card websites such as The Points Guy, Investopedia and NerdWallet. You can follow Lee’s travels at BaldThoughts.com or listen to his weekly travel podcast at WeTravelThere.com.
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About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.