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7 Easy Ways To Save Money On Holiday Season Travel

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7 Easy Ways To Save Money On Holiday Season Travel

You’ve picked out the gifts. You’ve decorated the house. You’ve selected a tree. Now, you have to figure out how to pay for those pricey visits to friends and family this holiday season. With gas prices sky-high and flights that aren’t much better, it’s difficult to find ways to travel on a budget no matter how much traveling broadens your horizons. However, by implementing the seven tips below, you can definitely save hundreds of dollars during the upcoming holiday months and even enjoy yourself in the process.

Stay With Family

It seems like a simple way to save money, but sometimes staying with family is more complicated than it seems. First, you don’t want to infringe on anyone’s privacy and secondly, there might be other relatives vying for the same space. To avoid the confusion and any awkward moments, be sure to talk to your family members way ahead of time to see how long they would be comfortable with you staying. Offer to make them a nice meal or take them out to dinner. Trust me, they will greatly appreciate the gesture and you will still save a significant amount of money since a meal out costs much less than 5 nights in a hotel room.

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Do Research On Airline Fees

If you are traveling by plane, be sure to do your research ahead of time. It seems that many airlines change their policies on how much free luggage you are allowed at the drop of a hat. These fees can sometimes be so high, you could have upgraded to first class for less! Avoiding these fees often means less luggage, which means you might have to ship gifts ahead of time. This tip will also help you to keep stress levels down in the airport since won’t be getting any unexpected financial “surprises.”

Bum A Ride

Taking a taxi to the airport or leaving your car parked there for a few days are both expensive ventures. Instead, ask a friend to drop you off and pick you up at the airport. You can always return the favor to them the next time they take their family to the beach or go on a business trip. It’s an easy way to save a few hundred dollars. Plus, you know your car is safely at home and won’t get bumped in the tight airport parking lot!

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Research Alternative Methods of Travel

Depending on where you live, it can be much less expensive and much more fun to travel by train. Your kids will love it, and you can enjoy the scenery as you go. Of course, this won’t work for everyone but it’s always worth it to research it and find out. If you’re a stickler for time management when you travel and making the most of the journey, this might actually work out the best for you. You’ll have built in quality time with your family and won’t waste precious hours waiting in long security lines at the airport.

Plan Your Meals

When most of us travel, we should expect the inevitable delays. Weather problems, technical difficulties on planes, and traffic jams are all common occurrences during the holiday months. So, keeping that in mind, it would be best to always pack a snack like popcorn or pretzels to keep with you at all times. This way, you won’t be tempted to run to the nearest fast food restaurant or convenience store to spend money needlessly, which keeps your wallet and your body healthy all at the same time.

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Be Flexible

Many of the best holiday travel deals come when you are flexible with your schedule. This may include taking red eye flights or having long layovers. This also might include staying in a two or three star hotel instead of a four or five star one, especially if you are just staying one night. Many people find that traveling on the actual holiday, like Christmas Day, gives them much cheaper tickets than flying the day before or after. So, definitely keep your schedule open, and you’ll reap the rewards. A good free tool to use to search prices is Google’s matrix airfare search (Note: You can’t buy tickets using this tool but it will find the prices and availability and give you the codes that booking agents need to buy the ticket for you)

Use Social Media

Many people think that the only way to get a good deal on hotels or travel is to plan ahead and use travel websites for the best rates. This works well most of the time, but remember that the holidays are often plagued with extra expenses. Be sure to tweet your hotel or Facebook them ahead of time to let them know you are excited about coming. You never know when they’ll comp you a free breakfast or upgrade your room for being involved and spreading the word about their company.

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I know that many other people also have great tips on saving big bucks on holiday travel, so please leave all of your best suggestions in the comment section below.

Featured photo credit:  Pretty young woman hitchhiking along a road via Shutterstock

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Catherine Alford

Catherine is the go to personal finance expert for educated, aspirational moms who want to recapture their life passions.

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Last Updated on July 20, 2021

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

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

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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