The cost of going on a trip is nearly 15% more today than it was in 2022, yet many experts are still predicting a record summer travel season. And if the trip you’re planning includes a large group of friends or extended family, the cost can skyrocket even more. So how can you save money on a group trip this year? We’ve got six tips that can help your money go farther.
Book Far in Advance
Numerous studies have concluded that airline tickets are cheapest between 164 and 46 days before travel. Booking farther out than that is unlikely to net any savings, and waiting until the last minute nearly always means higher prices and fewer options, especially this summer when air travel is slated to break records. The same can go for booking hotels and vacation rentals. So, if you’re planning a trip this year, anywhere from five months to a month and a half beforehand is the sweet spot to book.
Book a Vacation Rental
Although separate hotel rooms for each couple or family may seem like the best way to go in terms of privacy, larger travel groups can nearly always get more for their money by booking an Airbnb or other vacation rental. The price per person is likely to be lower, and you’ll get to take advantage of conveniences like a full-sized kitchen, meaning you can save big money on meals by cooking for the entire group.
Buy Group Travel Medical Insurance
Travel medical insurance is essential for anyone going abroad to a destination outside the United States. A group travel medical insurance plan is typically around 10% cheaper than buying the same coverage with individual policies for each member of your travel group, and everyone will still get their own separate insurance card. Visit the quote form to shop for plans today.
Traveling to the USA? Shop for visitors medical insurance.
Plan Ahead for Transportation
Rideshare services like Uber and Lyft can be great options when traveling, but they aren’t always an economical option for larger groups. It’s often a better idea to rent a van ahead of time so you aren’t constantly booking multiple rideshare vehicles to get everyone from one location to another. Despite large vans getting fairly poor fuel economy, it still costs less than renting multiple vehicles.
Split Up for Activities
There’s little chance that everyone in a travel group will like doing all of the same things. Your parents may have no interest in riding roller coasters at a theme park, and you may not have any desire to spend a day at a museum. Don’t be afraid to split up so different members of the group can spend time doing what they enjoy. There’s no point in someone paying for something they have no interest in.
Splitting the Costs
In most cases it’s easier when planning a group trip to have one person do the booking and have everyone else reimburse them. But it’s important to split costs fairly. For instance, the four people sharing a room in bunkbeds at a vacation rental shouldn’t be expected to pay the same as the couple sleeping in the master bedroom with a private bath. However you decide to do it, be transparent, communicate openly with the other group members, and most of all, have a great time!