How to travel on a budget

Travel has been known to have many psychological benefits, including reducing stress and increasing happiness. According to a study by the Global Commission on Aging and Transamerica Center for Retirement Studies, nearly 70% of people who travel regularly report feeling happier.

While travel can be a great way to improve one's mental well-being, it can also be quite expensive. However, there are several ways to reduce the overall expense incurred while traveling:

Plan ahead: Planning your trip well in advance can help you save money on airfare, accommodation, and other expenses. One study found that the lowest airfare was offered on average exactly 70 days prior to travel.

Be flexible: Being flexible with your travel dates and destinations can also help you save money. For example, traveling during the off-peak season or choosing a destination that is less popular can be cheaper. Some hotels reportedly slash prices by 50% in the off-season.

Use public transportation: Instead of renting a car or taking a taxi, opt for public transportation when available. This can save a significant amount of money, especially in big cities. Plus you get the fun experience of interacting more with locals.

Cook your own meals: Eating out can be expensive, especially in tourist traps. Stay in a vacation rental with a kitchen so you can cook your own meals and save money. The typical traveler spends $46/person/day on eating out. Preparing food at a rental will save you bundles.

Look for deals and discounts: Look for deals and discounts on travel websites, social media, and through travel agencies. You can also sign up for travel rewards programs, which can help you save money on future trips. Some hotels even offer free coupons for drinks or tours.

With these tips and a little sleuthing for deals, you can have a terrific vacation for less!