Expert offers cost-saving tips for holiday travelers
CASPER, Wyo. (Wyoming News Now) - Even though AAA has announced they expect 55 million people to be traveling for Thanksgiving… financial experts say many Americans are changing how they travel, or how much they’ll do once they get there. So, what exactly does that mean? I spoke with industry expert Ted Rossman from bankrate.com to find out.
James: “In the numbers that you guys found... And granted you’re looking at the whole holiday season, and not necessarily Thanksgiving only... But the numbers you guys found also predict a lot of travel, but it’s sounding like the travel may be a little bit different. Give us some details.”
Ted: “I think a lot of it is in response to the pandemic. We missed travel. We missed going out to eat. We missed going to concerts and sporting events. So a lot of people are prioritizing this kind of spending. But, inflation is still this big elephant in the room. We’ve got to cut back somewhere. So what most people are telling us is that they’re making modifications. And 3/4 are changing their holiday travel plans because of inflation. And while some are skipping the trip entirely... More often I think people are cutting corners to make it work and still take the trip. Even if it means picking cheaper accommodations. Or cheaper activities. Or maybe driving instead of flying.”
James: “you kind of touched on it a little bit. In some of your guys’ findings, even though a lot of folks are willing to travel... With inflation being what it is... They might have to adjust plans or not do as much, right?”
Ted: “That’s right! And I think that’s a very rational response. And I would add to that some saving tips. Like using your rewards points and miles. A lot of people are sitting on credit card points. Airline miles. Hotel points. You want to use those. Maybe cut a zig, one other zag. I know it’s easier said than done around the holidays because their dates are very fixed. But think about Thanksgiving. A lot of people fly on Wednesday and Sunday. Could you go a little earlier? Could you stay a little later? Flying on Thanksgiving morning is actually a real bargain. If you’re willing to roll the dice that you still get there in time for the family meal.”
Pertaining to local airline travel for Thanksgiving... Cheyenne Regional Airport says their flights are 80% full already... And this Saturday is sold out.
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