Traveling means so many things to different people. For some, travel is all about going from point A to point B. For others it is a chance to escape, relax and do nothing. While others use travel as a way to experience the world in a different way than they do at home. Our family does some of each type of travel but the last is definitely our favorite. Now that Evan is old enough we are doing more and more experiential travel to open his eyes to the world around us. Our latest trip to Bali was a perfect example. Instead of spending all of our time on the beach we rode elephants, watched monkeys, explored rice paddies, met rice farmers, watched glass blowing, visited temples and negotiated in local markets.
Unfortunately, many people think that experiential trips are beyond their reach because they are considered more expensive. Thankfully, that is not always the case. People were amazed that we went to Bali and many people said “One day” or “It’s on my bucket list”. I am here to tell you that it wasn’t that much more expensive than a visit to a nice resort in Mexico! Seriously. Don’t let you misconceptions stand in the way of your dreams!
“A lot of people think experiential vacations cost more than ordinary vacations, but that doesn’t have to be the case,” said Christine Hunter, Vice President, TD Credit Cards. “It all depends on where you want to go and what you want to do, but you can always find ways to help you save that could make your trip more affordable.”
TD Canada Trust has been doing some research around the changing travel habits of Canadians. They’ve found that over half (62 per cent) of Canadians are likely to consider going on an experiential vacation if they could find ways to save on costs.
TD Canada Trust has some tips for affording your next vacation such as using travel loyalty rewards and creating a vacation savings account.
- Know how much to save: Calculate the full cost of the trip, including all associated costs, such as transportation, accommodation, transfers, tips, activities, meals and travel insurance.
- Create a vacation savings account: Have full sight of your expenses – through a monthly credit card statement for example – to identify where day-to-day savings can be made. Then put those extra dollars into a high-interest savings account, which can grow into a nice holiday fund. For example, saving $25 a week can generate $1,300 in a year to spend on your vacation. It helps to start saving as early as possible.
- Look for free or inexpensive activities: Research prices online and see if savings can be made by booking activities before reaching your vacation destination.
- Use your loyalty travel rewards to help save on travel costs: Use a travel rewards card to pay for all of your everyday purchases, and then redeem the loyalty travel rewards earned on those purchases to help reduce the overall cost of the trip. Remember, to benefit fully from using any credit card, pay the balance on time and in full.
With a bit of legwork, that experiential vacation can be within your reach.