How to Save Money When Traveling
With summer just around the corner, many of us are itching to hit the road, book flights, or finally use those saved-up vacation days. But with inflation, rising interest rates, and global economic jitters still making headlines, travel planning in 2025 is a little trickier than usual.
So how do you still enjoy a getaway without breaking the bank? NBC’s Stephanie Ruhle recently stopped by TODAY to share her top strategies for saving money and making smarter travel choices—even in uncertain financial times. Here’s what you need to know:
1. Let the Exchange Rate Work for You
If you’re considering international travel, keep a close eye on exchange rates. Some currencies—like the euro or Japanese yen—have seen favorable shifts for U.S. travelers recently, which means your dollar could stretch further abroad.
“Don’t just pick a destination because it’s on your bucket list,” Ruhle suggests. “Think about where your money will go further. You might discover a new favorite place.”
Before you book, use a currency converter or talk to your bank to understand how much you’ll actually be spending once you arrive. And don’t forget to check if your credit card offers no foreign transaction fees.
2. Avoid ATM and Credit Card Fees
ATM and credit card fees can add up fast, especially when traveling internationally. Before you go:
-
Check with your bank about partner institutions abroad where you can withdraw cash with minimal or no fees.
-
Use credit cards that waive foreign transaction fees—they’re more common than you might think and can save you 1–3% on every purchase.
-
Be mindful of dynamic currency conversion. Some merchants will offer to charge your card in U.S. dollars instead of the local currency, but this often comes with hidden fees. Always choose to be charged in the local currency when given the option.
3. Travel Flexibly to Save Big
With airfare and hotel prices fluctuating, flexibility is your best friend. Traveling mid-week, choosing off-peak times, or flying into smaller airports can shave hundreds off your total trip cost.
Tools like Google Flights, Hopper, and Skyscanner let you track prices and explore cheaper dates. Ruhle also advises using alerts and booking sooner rather than later: “If you know you’re going somewhere, lock in your flight early. Prices can spike as demand grows.”
4. Consider a “Nearcation”
If your budget’s tight, you don’t need to cross oceans to have an adventure. Exploring destinations closer to home—maybe a road trip to a national park, a beach you’ve never visited, or even a staycation in your own city—can offer all the fun without the financial stress.
“Sometimes the best trips are the ones that don’t require a passport,” Ruhle says. “It’s really about making memories, not mileage.”
5. Leverage Points and Rewards
Now’s a great time to check your credit card rewards, airline miles, and hotel points. These can often be used to offset the biggest travel expenses—especially flights and accommodations.
Some cards even offer bonus travel protections or perks like airport lounge access, travel insurance, or free checked bags—small upgrades that can go a long way.
6. Make a Budget—and Stick to It
It’s easy to overspend when you’re in vacation mode. Set a realistic travel budget in advance and look for ways to stick to it, like:
-
Pre-booking tours or activities at a discount
-
Using public transit instead of ride shares
-
Eating like a local (hello, street food!)
-
Staying in accommodations with kitchens so you can cook some meals
Final Thoughts
While the economy might be uncertain, your summer plans don’t have to be. With smart planning, a little flexibility, and a few insider tips, you can enjoy the trip you deserve—without worrying about what’s happening in the markets.
So whether you’re dreaming of Paris, the Pacific Northwest, or just your friend’s cabin by the lake, there’s a way to make it work for your wallet. Happy travels!
