Wednesday, October 9th, 2019
Whether you're headed home to spend time with family or taking a much needed vacation, travelling during the holiday season can be expensive and stressful. You're already spending more than usual on presents and social events, so taking a trip will just add to your expenses.
Generally speaking, Christmas Eve and January 2 are the busiest travel days during the holidays, which means you'll likely pay more for your airfare on those dates. If possible, try travelling at the start of December or the second week of January since not as many people are taking trips at that time and flights might be cheaper. It may not be ideal, but if you're really in a bind, seeing your family a little bit before or after the holidays and saving on travel costs is better than nothing.
The easiest way to save on airfare is to sign up for every airline's newsletter, since they'll let you know as soon as there's a sale. These deals aren't just for last-minute flights—they're often good for travel months later. You'll also want to pay close attention to Black Friday and Cyber Monday, since many airlines and tour operators may have big sales at that time.
There are many websites that allow you to bundle your flight, hotel and rental car, which will usually save you money as opposed to booking things separately on your own. The nice thing about a website like Expedia is that you don't need to reserve everything at the same time to save. Depending on your departure date, you usually have a few weeks where you can add a hotel and/or rental car and still get the lower rate.
If you've been collecting reward points over the years with your credit card or other loyalty programs, now is the time to cash them out. Points can be extremely valuable since they'll let you travel for free or give you discounts. Regardless of what loyalty program you're with, read the fine print to find out what your points will get you and if there are any fees you need to pay when redeeming your points.
VIA Rail offers discounts for children, students, and adults over the age of 60, which is great if there's a route that works for you. Depending on where you're headed, low-cost carriers may have lower fares compared to the major airlines. If you happen to live near the border, you may want to consider flying out from a neighbouring American city, since tickets on U.S. airlines might be more affordable.
Thinking of going on vacation this holiday season? You can save big by visiting lesser-visited destinations in the winter. Banff is great for skiing and is more affordable compared to Whistler. Montreal in the winter is cold, but there are many free outdoor activities to keep you warm.
Checking your luggage can easily cost you $30-$50 each way, so you may want to reconsider bringing all of your presents with you. What you could do instead is order your presents online and ship them directly to your loved ones. Look for online merchants that offer free shipping and gift wrapping so it'll still feel like a surprise. It may not seem like the most traditional thing to do, but it'll save you money.
This article is provided for information purposes only. It isn’t meant to be relied upon as financial, tax or investment advice, makes no guarantees about future financial conditions or performance, and shouldn’t be considered a recommendation to buy or sell investments or financial products....Information contained in this article, including information related to interest rates, market conditions, tax rules, and other investment factors is subject to change without notice, and Tangerine Bank isn’t responsible to update this information. All third party sources are believed to be accurate and reliable as of the date of publication, and Tangerine Bank doesn’t guarantee its accuracy or reliability. Readers should consult their own professional advisor for specific financial, investment and/or tax advice tailored to their needs to ensure that individual circumstances are considered properly and action is taken based on the latest available information.