Everybody wants to save money on travel, but sometimes it seems impossible to tell. Yes, there are some cases where it’s obvious. Last year, for example, I bought cheap tickets to London on CheapOair and saw for myself that I saved more than $1,000. Other times, however, it isn’t as obvious. Maybe you’re getting the cheapest ticket or hotel room, but the prices are already low across the board.
Figuring out your actual savings can be notoriously difficult, and using the wrong starting point can lead you to believe you aren’t saving as much as you think. Check out this infographic for the truth about you’re savings!
1. Know the standard: It always helps to have a baseline. In the United States, the average family spends $2,699 a year on travel and leisure, with $1,571 going to travel. That’s close to three times what the average household spends on cable! Of course, this is an average: if you’re taking a big trip to Europe, for example, expect to spend more.
2. Factor in everything: If your goal is to save money, you need to look at the whole vacation, not just parts of it. You may save a little on your flight to a popular destination but find an amazing hotel rate there. Don’t think about the fact that you didn’t get a deep discount on your flight; instead, focus on the insane savings you got on your vacation overall.
3. Compare to people like you: Age makes a difference: people age 50 to 65 spend the most on travel, $3,281 on average. That’s more than twice what people age 18 to 25 spend, and more than 50 percent higher than the $1,975 average for people between 26 and 35 years old.
4. Size matters: A family of four will have a different starting point from a solo traveler. After all, families with children spend the most on travel … as you’d expect from the number of people involved. To see your savings, compare the per-person cost to a single traveler.
5. It’s all local: Where you live makes a difference. If you’re from Arlington, VA, for example, you love to get out on the road … and aren’t afraid to invest in it. This city’s residents spend an average of $5,615 a year on travel – more than twice the national average!
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