How to stretch your vacation dollars despite inflation
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(NewsNation) — It’s difficult not to flinch when you look at the cost of gas, airfare, and hotel rooms these days, but some are finding ways to pinch pennies.
According to NewsNation decision desk HQ poll, 74% of Americans are “very concerned” about inflation.
Forty-three percent have “made changes” to their summer travel plans because of inflation. And 64% of those people have outright canceled their vacation plans over cost.
Travel expert Johnny Jet joined NewsNation’s “Banfield” with tips on stretching your vacation dollars amid rising costs.
“Go to Canada,” Jet said. “You can drive there, for most of the U.S. It’s 22% off, because their dollar is much weaker than ours. Or go to Turkey where their lira is so devalued. And South Africa, you know, you can get really good deals once you’re there.”
Another tip: make sure to look at currency exchange before you book your flights.
Traveling to Europe right now is also bargain compared to previous summers, Jet said. Last week, the Euro-to-Dollar rate was $1.03.
Jet also encouraged that you buy flights before June 1, because prices are are predicted to go up.
Pandemic rules are still in place, or if you booked a flight for December, you’ll be able to cancel it, or change it without a fee. You may want to book trips on U.S. carriers as well.
“Let’s say you’re going to go to France… Instead of booking on Air France, and you decide not to go, you can’t go to Florida,” he said. “But if you book it on Delta, United, or American and you decide not to go to France, or wherever, you can go to Florida, Hawaii, California, you’ll be able to use it easy.”
Cruises and, or all-inclusive resorts are also great ways to save money, Jet said.
On the bright side, an inflation gauge closely tracked by the Federal Reserve rose 6.3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating.
The inflation figure the Commerce Department reported Friday was below the four-decade high of 6.6% set in March. While high inflation is still causing hardships for millions of households, any slowing of price increases, if sustained, would provide some modest relief.
The Associated Press contributed to this report.
