A new study has found that 81% of Americans say inflation will impact their summer vacation plans, but there are tips and tricks for saving money and getting the most out of your money during the winter. busy travel season.
According to a NerdWallet survey, 87% of Gen Z travelers and 89% of Gen Y travelers said inflation had an impact on their plans, but many are using their rewards, points and miles to ease the pressure.
With Americans building up a stash of credit card credits during the pandemic, 56% of all respondents said they would use stored rewards, points and miles for summer travel spending this year.
“To make summer travel more affordable, you might need to get creative,” says NerdWallet expert Sara Rathner. “Setting a travel budget and cashing in points and miles is a great start, but you can save on your trip by tweaking your itinerary a bit.”
Data shows that 62% of men and 50% of women said they would use credit card rewards to offset costs while traveling this summer. As for how generations will use credits, 71% of Gen Y travelers, 60% of Gen Zers, 53% of Gen Xers and 40% of Boomers plan to use points, rewards and miles accumulated during the pandemic to pay for their trip.
With inflation at a 40-year high and national average gasoline prices hitting $5 a gallon, the study found flying might be the best bet to save money, but split the car rental costs or taking public transport once in destination is probably the best bet. once on vacation.
“Consider destinations with reliable public transportation to avoid the expensive rental car,” Rathner continued. “If you’re staying in a vacation rental, or even a hotel room with a refrigerator, you can save on food by going to the grocery store instead of dining out at every meal. Higher prices in all domains mean travelers need to switch things up.
As for how to save money on accommodation during the 2022 summer season, staying with friends or family members can reduce hotel and vacation rental costs.
Travelers can also save money on food by taking advantage of free breakfasts or happy hours and using the hotel fridge or kitchen to stop at the nearest grocery store and buy snacks and drinks.
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