3/31/2025 (Updated: 4/15/2026) - by Erin D. Fennelly - Personal Banking
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I'll never forget the moment I opened my credit card statement after returning from what I thought was a "budget-friendly" trip to Charleston. Let's just say the numbers didn't match the mental math I'd been doing while shopping on King Street and trying trendy brunch spots. As a banker who should know better, (and believe me, I've heard myself giving this advice to clients) I learned the hard way that without proper planning, even a weekend getaway can wreak havoc on your finances.
But here's the thing – I'm still passionate about exploring new places, and I refuse to believe that memorable travel experiences require emptying your savings account. Over the years, I've developed some tried-and-true methods for satisfying my wanderlust without the financial burden afterward.
The single biggest money-saving travel tip I give to both clients and friends is book early. Those spontaneous last-minute getaways we see in movies typically come with premium prices. I usually start researching flights around three months before domestic trips and six months before international adventures. Do your research and find the sweet spot between peak and off-peak season for your destination.
Price comparison tools like Google Flights, Kayak, and Skyscanner can help you find the best deals on flights, accommodations, and attractions – and you don’t have to book through them if you choose not to. If you prefer to wait and see if prices come down, make sure you enable price alerts so you'll know when fares drop. I use the Hopper app, and I've saved hundreds by being willing to fly on Tuesday or Wednesday instead of starting my vacation on Saturday like everyone else.
Pro tip: If you have the travel bug and are itching to get away but don’t have your heart set on a specific destination, consider using the "explore" feature on flight search engines. This feature allows you to view a map of destinations with the lowest prices. Some of my favorite trips have been to places I hadn't originally considered but couldn't resist when I saw the low fare.
While everyone else is fighting for hotel rooms and restaurant reservations during peak season, I'm enjoying those same destinations with smaller crowds and bigger savings during what travel experts call the "shoulder season" – those sweet spots just before or after peak times.
For example, visiting coastal South Carolina in early May instead of mid-July means pleasant temperatures, lower accommodation rates, and restaurants where you can actually get a reservation. International destinations like Italy are magical (and significantly more affordable) in April or October compared to the European Summer rush.
Beyond just saving money, traveling in the off-season allows you to have more authentic experience when you're not surrounded by fellow tourists. You’re more likely to meet locals during these quieter periods, and they always have the best recommendations for restaurants and things to do.
While luxury five-star hotels are certainly nice, they're also a massive budget drain, especially considering how little time you actually spend in your room. When you’re traveling on a budget, I strongly encourage you to consider smaller, locally owned guesthouses or vacation rentals. This can also be an excellent source for travel recommendations, as hosts often provide a list of local recommendations.
If you're traveling solo or as a couple, private rooms in hostels are another option that might surprise you. Modern hostels often offer clean, private rooms with ensuite bathrooms at a fraction of hotel prices, plus communal kitchens where you can prepare simple meals.
My personal strategy is to choose one or two "splurge" nights at the beginning or end of my trip, then find budget-friendly options for the remaining nights. That fancy hotel feels even more special when it's a treat rather than your standard accommodation.
Speaking of things that drain your budget quickly, rideshare services and taxis are at the top of that list. In most major cities around the world, public transportation is extensive, affordable, and gives you a glimpse into everyday local life.
When I visited Boston last year, I purchased a 3-day train pass for $15 – less than the cost of a single rideshare from the airport. Not only did I save money, but I also enjoyed people-watching and discovered neighborhoods I would have missed if I'd been underground in the subway or watching the road from a car.
If you’ve been saving your credit card rewards or loyalty points for a special occasion, now is the time to put them to use. Whether you’re using cash back, credit card rewards, or loyalty program points, these bonuses can make a welcome contribution to your vacation fund.
As a banker, I see many clients accumulating credit card points without a plan for using them. If you travel even occasionally, a credit card with a good rewards program can significantly reduce your costs – but only if you use it responsibly.
Choose a card that aligns with your travel habits and spending patterns. If you're loyal to a particular airline or hotel chain, their co-branded card might offer the best value. If you prefer flexibility, cards with transferable points typically provide better options.
The golden rule: never carry a balance. The interest you'll pay will quickly negate any rewards value. I use my travel rewards card for everyday expenses I would incur anyway, like gas and groceries. At the end of each month, I pay it off in full and watch my points balance grow effortlessly.
Food is one of the greatest joys of travel, but restaurant meals three times a day will add up quickly. I find the best approach is somewhere in the middle; before your trip, research a few must-try restaurants and make reservations in advance, then fill in the gaps with more affordable options.
I love finding local markets and grabbing foods I can take somewhere serene and enjoy a picnic – think sandwiches, local cheese, seasonal fruit, etc. These meals are often kinder to your pocket and may turn out to be some of your favorite moments from your trip.
When I do eat at restaurants, I often go for lunch rather than dinner. Many upscale places offer the same quality food at lunch for significantly lower prices. Saving my special meals for midday also means I'm not going to bed with a heavy stomach and a lighter wallet.
As a banker, I can't help but emphasize the importance of having a concrete spending plan. Before each trip, I set a realistic daily budget for expenses like food, activities, and transportation.
This approach prevents the "vacation mentality" where normal spending rules seem not to apply. It also helps me make more intentional choices about where my money goes. Would I rather spend $50 on an overpriced meal in a tourist area, or use that same amount for a cooking class where I'll learn to make authentic dishes myself?
I know, I know – insurance feels like an unnecessary expense when you're already watching your budget but after having to cancel a non-refundable trip due to a family emergency, I'm now a firm believer in its value. A comprehensive travel insurance policy typically costs 4-8% of your total trip cost – a small price in the grand scheme of things.
Beyond trip cancellation coverage, travel insurance can cover emergency medical expenses abroad (something your regular health insurance likely won't), lost luggage, and other unexpected mishaps. The peace of mind alone is worth the extra cost.
While New York, Orlando, and Las Vegas will always have their appeal, there are plenty of beautiful lesser-known places to travel. We have some special spots here in the Southeast that I personally have loved visiting. The road less traveled may just bring you to your new favorite destination – and keep your budget intact.
Start a dedicated travel savings account and set up automatic transfers – even small amounts add up over time. Consider SouthState's Round Up to Save® program, which rounds up your everyday purchases and deposits the difference into savings. Cut one small luxury from your daily routine (that fancy coffee or streaming service you rarely use) and redirect those funds to your travel account.
When you’re on vacation – the last thing you want is to deal with the hassle of declined transactions. Use debit card controls to notify SouthState of your vacation dates and enjoy your trip without worrying about your card being flagged for unusual activity.
Consider using a combination of a no-foreign-transaction-fee credit card for most purchases and having a small amount of local currency for markets, tips, and places that don't accept cards. Avoid airport currency exchange counters as they typically offer poor rates.
For major trips, start planning 6-12 months in advance. This gives you time to watch for flight deals, research accommodation options, and save adequately. Begin by setting a target budget, then work backwards to determine how much you need to save each month.
Transportation within your destination (taxis, public transit), food costs (especially in tourist areas), and incidental expenses like bottled water, tips, and souvenirs. A good rule of thumb is to add 15-20% to your initial budget estimate to cover these often-forgotten costs.
For complex trips or destinations you're unfamiliar with, a travel agent can actually save you money despite their fees. They have access to deals consumers don't see, can alert you to hidden costs or tourist traps, and provide assistance if something goes wrong during your trip.
Traveling doesn't have to break the bank. With thoughtful planning, smart choices, and the right financial tools, you can create lasting memories without the lasting debt. The best souvenirs aren't the trinkets you bring home anyway – they're the memories you make along the way.
Looking to start saving for your next adventure? Explore SouthState's savings options and travel-friendly banking solutions today.
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