How to boost your travel budget for 2022

Want to travel more in the coming year? Here’s how to balance it financially.

Many people traveled more in 2021 than in 2020. This made sense given the trajectory of the pandemic and the availability of COVID-19 vaccines.

But you might be aiming to travel even more in 2022 than this year. You may have waited for your children to get vaccinated before traveling more. Or maybe you needed to wait until the faltering economy was over. Either way, if you want to raise more money for travel in the New Year, here are three tips to follow.

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1. Rework your general budget

Ideally, you should follow a budget that lists your various expenses throughout the year, from rent and car payments to utilities and grocery bills. If you want to earn more funds for your travels in the New Year, you may need to revise your budget and reduce your spending in some categories.

Imagine you are currently spending $ 300 per month on entertainment and recreation, including gym classes, concerts, cable, and streaming services. Cut your expenses by $ 80 per month and you’ll have almost $ 1,000 more to work on when you’re ready to book your trips.

2. Choose a secondary activity

The advantage of having a sideline is that the money you earn will be extra. As such, you probably won’t need it to pay your rent or car loan – that’s what your regular paycheck is for. And so, you may find it easy enough to allocate most of your additional income to the trip.

Of course, that begs the question – which secondary gig should you get? To figure this out, find the travel destinations on your list and try to figure out the cost of your various trips. Once you have this information, you can set income goals, and then explore secondary challenges that may help you reach them.

3. Use credit cards strategically

The more money your credit cards will save you, the more money you can spend on travel in 2022. First, make sure you are using the right cards for your everyday purchases. If there is a card that offers extra cash back for things like groceries and refills at the pump, it’s a card worth using often because you can use that cash back at travel purposes.

Then, once you’re ready to start booking travel, learn about the benefits you’ll enjoy using your travel rewards card. And if you don’t have one of these cards yet but plan to travel a lot in the New Year, consider applying for one. Travel cards tend to offer economic benefits, such as free checked baggage on flights.

While it has become easier for some people to travel in 2021, the hope is that things will get even better in 2022. If you plan to hit the road or fly a lot in the New Year, do these movements to increase your travel budget and buy yourself the freedom to explore the places you’ve always dreamed of.

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