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How to Get the Best Hotel Deals

How to Get the Best Hotel Deals
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I’m a big fan of comparison websites. They allow you to compare all your options and prices on one screen without having to spend hours researching prices on different websites. In some cases, like car rental, comparison sites can work out really well, with no booking fees, cancellation fees and no payment up front. But when it comes to hotels and accommodation, do comparison websites really get you the best deal? Before you book your next vacation, read this guide to make sure you don’t get ripped off!

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Family at the hotel check in

    Tips to get the Best Hotel Deal

    • Comparison sites like Expedia, Travelocity and Hotels.com are good for doing initial research and comparing your options.
    • Once you narrow down your choices to the hotel (or few hotels) that you would like to stay at, head to the hotel’s own website to see if their price is the same. Often they will have extra room types or prices that they don’t supply to comparison websites.
    • Look on the hotel’s website to see if they have any special deals or coupons.
    • Watch out for booking fees and credit card fees. This is not exclusive to the comparison sites; some hotels also charge for this.
    • Check cancellation and amendments policies before you book. This applies to both comparison websites and the hotel’s own website. Check to see if they charge you a fee for amending or canceling bookings. Your travel insurance may cover this, but it’s easier to get your money back straight from the hotel.
    • Check what’s included in your room rate. Some places will include things like Wi-Fi internet and local calls. Ironically, it’s usually the expensive five-star hotels that charge for these things like a wounded bull!
    • Don’t be afraid to negotiate. Try calling the hotel and see if they can offer a better price, room upgrade, or throw in some extras. This can work well if it’s close to the date and they still have plenty of rooms vacant.
    • Some people swear by bidding sites like Priceline, and others hate them. If you want to give it a shot, Gadling has an excellent guide on how to game Priceline to get the best deal.

    Resort Pool

      Let’s Look at a Real Life Example

      The following example is searching for the same hotel on various websites. In each case I’ll choose the cheapest available rate and highlight any extra costs for the booking. The hotel I’m looking at is in Australia (my home country), but I’ve tried it for several different countries around the world and got similar results.

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      Two nights (weekend) at the Mantra on Queen in Brisbane, Australia.

      Hotels.com
      Room: $298.00
      No credit card or booking fees
      Free cancellation until two weeks before the arrival date
      Total: $298.00

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      Wotif.com
      Room: $298.00
      Credit card fee: $5.50
      $25 cancellation charge up to two weeks before the arrival date
      Total: $303.50

      Mantra.com.au
      Room: $248.00
      2% credit card surcharge: $4.84
      $25 cancellation charge up to two weeks before the arrival date
      Total: $246.84

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      As you can see, even with the credit card surcharge, the hotel’s own website worked out cheaper in this case, as they had rooms that were not advertised on the comparison websites. I should point out that Mantra is quite a large chain of hotels in Australia, so they have some strict terms around cancellation and other fees. I’ve found that if you’re booking at much smaller independent hotels or B&Bs that you can often negotiate much better rates by going direct.

      Do you have a great tip for booking accommodation? Leave your best tactics in the comments below! And before you plan your vacation, don’t forget to check out my guides on getting the best deals on car rental, and how to take great travel photos!

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      Last Updated on July 20, 2021

      Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

      Financial Freedom is Not a Fantasy: 9 Secrets to Get You There
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      Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

      Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

      Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

      In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

      Break Free of Your Finances

      Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

      When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

      Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

      Though it seems hard to believe, it is really very simple to get financial freedom.

      To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

      While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

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      Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

      1. Stop Unnecessary Spending

      We often spend money inwardly, instead of objectively.

      For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

      To stop this habitual spending, log down all your spending over the course of a month.

      Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

      This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

      2. Plan a Monthly Budget

      This is a great opportunity to get serious.

      Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

      Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

      3. Cut-up Credit Cards

      Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

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      If not, you may want to consider ridding your life of the burden that credit cards bring.

      Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

      Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

      4. Increase Savings

      There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

      It’s good practice to save up to 15% of your income.

      Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

      Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

      5. Invest Wisely

      Consider investing in funds.

      Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

      To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

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      Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

      6. Invest in Gold

      There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

      You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

      Another way to invest in gold is through ETFs (Exchange Traded Funds).

      These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

      With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

      7. Stash Emergency Funds

      Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

      If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

      Make it hard to get your cash.

      Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

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      8. Find Fabulous Mentors

      Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

      If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

      There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

      9. Be Extra Patient

      Patience is the key of financial success.

      Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

      So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

      Financial Freedom for All

      Anyone can achieve financial freedom, regardless of their financial circumstance.

      Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

      Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

      Featured photo credit: rawpixel via unsplash.com

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      Reference

      [1] Hartford Gold Group: IRA Retirement Accounts

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