Americans Have Big Travel Plans for 2022. Here's How to Save for Your Upcoming Trips
Planning to do more travel in the coming year? Here's how to scrounge up the cash.
Many people put their travel plans on hold in 2020 while the pandemic was raging. Even this year, some people have been hesitant to jump on the travel bandwagon. Not only is the delta variant still with us, but some children still aren't eligible for coronavirus vaccines.
Next year, things could be different, so it's not surprising to learn that Americans are making big travel plans for 2022.
In a recent American Express survey, 55% of respondents say they plan to take one to three trips in 2022. To make that possible, 52% have resolved to take more vacation time in 2022 than they did in 2021.
If you're eager to ramp up your travel schedule next year, you'll need money to make that happen. Here are some tips to help you save.
1. Bank your bonus cash
If you'll be getting a holiday bonus, socking that money away for future travel is a good bet. Tempting as it may be to spend that money the instant you get it, it could go a long way toward funding a 2022 trip.
2. Save your 2022 raise
If you're getting a raise next year, you may have an opportunity to set aside some of that money for upcoming travel. After all, that paycheck boost isn't something you're used to living on, so you can earmark that money as soon as it comes in. Better yet, open a savings account dedicated to travel, and then set up an automatic transfer from your checking account into that new savings account to stay on track.
3. Get a side hustle
If your travel plans involve taking multiple trips, you may need to boost your income to pay for them. An easy way to do that is to get a side hustle. There are a host of side gigs you can choose from, so think about the things you like to do and how much flexibility you need in your schedule. That should help you start to narrow down your options.
4. Don't spend as much on the holidays this year
During the holidays, it can be tempting to go all out on gift purchases, parties, and decorations. But if you're intent on traveling a lot next year, you may want to scale back in the near term. Rather than adorn your entire house in lights, consider a less expensive and more modest setup. Instead of a blowout party, consider a potluck holiday dinner where everyone chips in with a homemade dish.
5. Use credit cards strategically
Credit cards aren't just a spending tool -- they can actually help you save money. First of all, if you use the right cards for everyday purchases, you can reap rewards in the form of cash back. That cash could then be used to pay for flights and hotels. Meanwhile, some credit cards let you rack up reward points that are redeemable for travel. Those, too, could be a means of saving for your 2022 trips.
If you're eager to travel a lot next year, you're in good company. Whether you're aiming to book your dream trip or a basic getaway, these tips could be your ticket to pulling those plans off.
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