Follow the 4-6-Month Rule
To lock in the best rates on flights and accommodations, book four to six months in advance. Too early and airlines don’t post their best rates, too late and you pay a premium.
For international trips, you should aim for the 6-month mark. For domestic flights, 4 months is the sweet spot.
If you are booking a flight with credit card rewards, the best reward promos are best 6+ months ahead, but this can vary based on the airline.
Fly to a small country, via a major hub.
Regional airports will cost much more to get to than big hubs. So find a major hub with the best discounts, and weigh your options in taking ground transportation (i.e, train) to finish the journey.
Always use the area option instead of a specific airport. Sometimes airlines run promotions at specific airports within the same city.
Set an Average Daily Spending Limit
One easy way to keep your overall travel budget under control is to plan your budget ahead of time. Just the same way you plan your budget at home, plan your expenses in different categories. It gives the whole family a clear idea of how much they can spend on treats, souvenirs, and activities during the trip.
For instance, if one day you are planning something more expensive, make sure to offset it with free kids’ activities the next day.
Track Expenses on the Go
Use a simple budgeting app or even a paper tracker to log daily purchases. It helps you spot spending trends and avoid creeping over budget without realizing it.
Plan for an emergency fund
Just like in real life, emergencies also happen on vacation. A quick trip to the emergency room, some flight delays, or rerouting part of the trip can set you off and generate unplanned debts.
We recommend planning for about 20% of the total cost of your trip to help you handle major expenses. If you never use it, just keep it for your “next vacation” fund!
Trip insurance for peace of mind
This doesn’t replace an emergency fund, but it could help with the bigger expenses in case things go sideways. The average insurance premium, for a couple of weeks abroad for a family of 4, is around $300. Just find a great insurance policy and protect your wallet.