9 Ways You Can Save Money and Travel at the Same Time

You don’t have to stop traveling in order to save money. In fact, you can actually do both. From free hotels to savings accounts, here’s how to save money while you’re traveling. 

1. Choose the Right Destination

The destination plays a huge role in how much you’ll spend. Think of it as a “go here, not there” scenario. For example, Bermuda offers a lovely beach vacation but is incredibly expensive. Instead, try Curaçao, which offers loads of culture, lovely architecture, and beautiful beaches. Fancy skiing in Switzerland? Consider Bulgaria or Romania, instead. 

2. Take Advantage of Free Stopover Cities 

Long layovers can actually be an excuse to tick another city or country off your list with a free stopover. For example, Iberia Airlines has created the “Hola Madrid” program to turn your layover into a destination, allowing passengers to spend up to six nights in the capital at no additional cost to the ticket. Icelandair, Qatar Airways, Etihad, plus quite a few other airlines also offer this program. 

3. Get Free Hotels on Stopovers, Too

In addition to a free stopover, some airlines take it a step further and offer a free hotel. Qatar Airways offers free hotel accommodations when flying to the hub of Doha. Etihad offers two nights free for stopovers in Abu Dhabi, and Turkish Airlines offers a free hotel stay in Istanbul. 

4. Rent Out Your Space

You don’t have to have an apartment in San Francisco or Paris to rent your space. Your house or apartment could serve as a rental for business travelers or even students. Short-term rentals like VRBO and Airbnb allow you to actually make money while you travel. 

5. Set Up an Automatic Travel Savings Account 

You can have a bank account that’s devoted entirely to your travel funds. Here, look for features such as a no- or low-fee account with a high interest rate. A high-yield savings account is ideal because you'll be able to earn some interest on money but still be able to access it easily. Create an ongoing direct deposit into a fund that has a specific name – in this case, a travel savings account. Many banks offer accounts with goal-setting features that help you visualize your progress towards your next trip.