How Travelers Booking Short-Term Rentals Can Save Some Serious Cash

Whether you’re traveling for business, pleasure, or to snap some memorable photos of sunsets on the beach, visiting a new place can be expensive. Over 75 percent of Americans go into debt when they travel (to the tune of $1,108), and this debt can impact your overall financial health. But you don’t have to dig a grave for your credit score to travel.

Many people choose to skip the fancy five-star hotels and book short-term rentals. Whether you’re traveling far away or staying close to home in Atlanta, these fully furnished and equipped apartments and homes can be a financial lifesaver, especially now that apps make finding short-term rentals a cinch. However, the savings don’t have to end there. From Big World Publishing, here are some ways to save some serious dough when you’re traveling and booking short-term rentals.

Scout Out Car Rental Deals

Chances are, you’re not bringing your car with you during your travels — especially if you’re going to another country. Just because you need a car to get around doesn’t mean you have to throw your budget out of the window. Luckily, popular websites make saving money on car rentals easier than ever. You can push your savings if you scout out coupons and stack them together before you rent the car. Some credit cards even offer you special discounts on rentals.

Leverage the Shared Economy

You can rent out short-term rental apartments and vacation homes that are fully furnished, but you’ll probably find a better deal on shared economy apps. Since you’ll be able to deal directly with people who are renting out their spare rooms or homes, you can usually save a ton of dough. Plus, some of the short-term rentals available are way nicer than five-star hotels.

But the shared economy goes far beyond rentals. EatWith connects you with local chefs and dinner parties that can give you the experience of eating out without the massive bill. Apps like Spinlister can help you find local bikes or surfboards without having to spend the dough to buy one outright. And apps like Wag! can find you a dog sitter on the cheap while you’re out of town. That’s just a small list. There are thousands of shared economy apps that let you get products and services at a fraction of the price that some companies charge.

Purchase a Vacation Property

If you find yourself repeatedly visiting the same place, it’s wise to consider investing in a vacation property. This is a great way to save on housing expenses during your vacation while also providing income opportunities when you aren’t using the property. Keep in mind that mortgages for vacation homes can have different requirements.

If you do rent the property, be sure to protect yourself with an appropriate business structure. An LLC is ideal for protecting your personal assets from legal liability. Plus, it offers you tax benefits as well.

Save on Airfare

That short-term rental you found may be amazing and cheap, but you still have to get to it. One of the most expensive components of traveling is airfare. Luckily, there are websites that can help. Places like Priceline can help you find cheap airline tickets. But be careful; there are some shadier websites that claim to offer cheap airfare. It’s not always worth it. Some of them are downright uncomfortable. Also, if you travel a ton, look into frequent flyer miles. Credit cards that offer these may restrict you to using certain airlines, but it’s almost always worth it in the end. And you also get to ride first class, which is always nice.

Flying and staying in new places can be great for your mental health. That said, it’s not always cheap. With these helpful tips, you can save some serious cash during your vacation or business travel. From car rentals to short-term rental apartments and food, there are plenty of ways to be budget-friendly on your next trip.

What travel-saving tips do you have? We would love to hear from you! Please post your comments below.

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Written by: Linda Robinson