15 Travel Traps That Will Drain Your Wallet
According to AAA Travel, Travel and tourism contribute about $5.81 trillion to the global economy. Traveling is enriching, but as with anything, it has its pitfalls, the worst is being broke when you get back from somewhere.
Although traveling to new places may open our eyes to new things, not knowing what the common travel mistakes are may cost us a pretty penny. Here are 15 travel traps to help you avoid unnecessary spending while you explore the world.
Dynamic Pricing on Flights
The dynamic pricing algorithms airlines implement are demand-based and change depending on demand, browsing behavior, and purchase timing. A study from Investopedia shows that booking a domestic flight 28 days in advance offers the best chances for competitive fares.
Tip: Use price tracking apps like Hopper or Google Flights when looking for flights.
Currency Exchange at Airports
Did you know that you can pay a fee of up to 15% on top of the unfair exchange rate when you use the currency exchange at the airport? A NerdWallet report states that airport exchange counters are usually the most expensive way to convert money.
How to avoid it: Rather than using your bank’s exchange services, use local ATMs or currency exchange services in town, as they can save you money. If that’s too much of a hassle, use a no-foreign transaction fee credit card for overseas purchases.
Hotel Resort Fees
Skift’s travel survey revealed that resort fees can tack on another $30–50 (and, in some cases, much more) to your nightly stay. However, these fees aren’t always disclosed up front and cover things like pools, Wi-Fi, and gyms.
How to avoid it: When booking online, always check the fine print and complain if the amenities you’ve booked aren’t available during your visit. Booking.com and Expedia, to name a few, will often flag properties with extra fees.
Unreliable Data Plans
International roaming charges add up. Once there, purchase a local SIM card or invest in a global plan before leaving. For groups traveling together, consider renting pocket Wi-Fi services.
The Hidden Costs of Free Walking Tours
“Free” walking tours may sound appealing, but they usually involve steep tips or additional charges.
How to avoid it: Do your research in advance and know what is expected regarding tipping. Or sign up for fully clear-price guided tours.
Foreign ATM Fees
The financial tools report from Bankrate estimates that travelers pay an average of $3–$6 in fees per transaction alone for withdrawing money abroad. Some banks also charge hidden currency conversion fees.
How to avoid it: If needed, use no-fee withdrawal cards or partner banks that do not charge fees for overseas transactions.
Overloaded Tourist Hotspots
Often, popular attractions have high entry fees or overpriced vendors take advantage of the tourists there. For instance, the price of a simple coffee by Rome’s Trevi Fountain can be shouldered double the sticker price.
How to avoid it: Visit landmarks at off-peak times. In addition, try to find local favorites to incorporate into your itinerary.
Prepaid Tour Packages That Don’t Deliver
There are many hidden costs, such as gratuities or mandatory equipment rentals, that might appear as part of your prepaid tour package, and that sounds like such a deal. Such bundles often have travelers paying 20% more than they would have covered by paying for things one at a time.
How to avoid it: Review user reviews on TripAdvisor platforms and confirm what’s included before booking.
Airport Parking
In cities such as New York or Los Angeles, parking your car at an airport for a week can cost as much as $200.
How to avoid it: If you’re traveling lightweight and with flexible time, compare offsite parking facilities or consider a rideshare.
Car Rental Insurance Overlaps
If you have car insurance or are part of one of the credit company networks, rental car companies often shamelessly try to sell you expensive insurance packages.
How to avoid it: Before you sign any agreement, call your credit card provider or personal insurance and find out if you have benefits for the rental car.
Over-Packing Fees
Baggage weight limits are not taken lightly–especially on budget airlines. Exceeding them can cost you $100 or more per suitcase.
How to avoid it: Get a portable luggage scale and understand your airline’s baggage policy.
Tourist Trap Restaurants
Being in tourist-heavy areas, you often pay more for mediocre quality. Restaurants located near significant landmarks raise the price of standard dishes by 30–50%.
How to avoid it: Look for highly rated, not overly expensive local food a few blocks off tourist hubs–use Yelp or Google Maps.
Unnecessary Souvenir Spending
While souvenirs are tempting, overpaying for trinkets manufactured abroad defeats the purpose of purchasing authentic memorabilia.
How to avoid it: Support goods made by local artisans first. Not only does it help you get better quality, but you’re also supporting the local economy.
Ride-Hailing Surge Pricing
Popular ride-hailing apps like Uber and Lyft raise prices during peak travel times or bad weather. This is surge pricing, the practice of inflating costs by 2–3 times.
How to avoid it: If possible, use public transportation or carpool with others traveling for your trip.
Hotel Wi-Fi Upcharges
Even high-end hotels that already charge premium nightly rates charge exorbitant room Wi-Fi fees, ranging from $10 to $25 a day.
How to avoid it: Check if Wi-Fi is included in the booking or pick a hotel with free Wi-Fi.
Those aren’t even the only snags that can upset your travel finances, but you can sidestep them if you learn how to have a budget-friendly trip. By implementing these tips into your travel planning, you’ll save much money and have a more enjoyable and stress-free travel experience.
Disclaimer – This list is solely the author’s opinion based on research and publicly available information.
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