A few lesser-known hacks to save almost 60% on your next vacation trip

The Christmas and New Year holidays are a time to relax and explore new destinations. Many travelers use the holiday season to visit their favorite destinations. Exploring new destinations comes at a cost. Therefore, travelers should plan their Christmas vacation within a budget to avoid overspending, as vacations should not have a lasting impact on finances.

To get the most out of their trip, set a realistic budget, make cost-effective deals and minimize expenses.

Choosing the right destination is an important factor in ensuring travelers don’t overdo their budget. According to Priyank Shah, co-founder and CEO of The Financialist, selecting the right destination is crucial to getting the most out of your travel budget.

“Choose locations that are known for their affordability yet offer rich experiences. For example, while cities like Paris and Rome are popular, consider alternatives like Lisbon or Budapest, which offer similar cultural experiences at a lower cost,” said Shah.

He proposes a list of unusual and affordable destinations that offer an experience comparable to popular locations.

1. Mexico City, Mexico

Savings: Travelers can save about 40 percent compared to cities like New York or Los Angeles.

Highlights: Affordable accommodations, cheap public transport and delicious street food.

2. Hoi An, Vietnam

Savings: Daily expenses average around $64.51, significantly lower than popular destinations like Paris or Tokyo, where daily costs can exceed $200.

Highlights: UNESCO World Heritage-listed old town, beautiful beaches and vibrant local culture.

3. Budapest, Hungary

Savings: Costs are approximately 50 percent lower than in Western European capitals such as London or Paris.

Highlights: Rich history, stunning architecture and thermal baths at affordable prices.

4. Chiang Mai, Thailand

Savings: The daily budget can be as low as $30, compared to more than $100 in Bangkok or other major cities.

Highlights: Picturesque temples, lush landscapes and cheap street food.

5. Marrakesh, Morocco

Savings: Travelers can save around 60 percent compared to cities like Barcelona or Rome.

Highlights: Bustling souks, traditional riads and rich cultural experiences.

He also added that traveling outside the peak season will help save on flight and accommodation costs.

For example, a trip to Europe might cost $7,300 during peak season, but $4,000 off-season.

“In 2023, about 32 percent of fare reductions were observed during off-season travel,” Shah said.

“Off-peak fares could be reduced by 50 percent, allowing better accommodations at lower prices,” he added. Travelers can opt for alternatives such as vacation rentals or hostels to save on accommodation costs. Additionally, house sitting arrangements can provide cost-effective accommodation.

The goal of every vacation is to enjoy yourself and create a lifetime of memories. Planning a vacation based on your finances makes vacations more valuable and doesn’t put a strain on finances. Focus more on fruitful experiences rather than spending money on extravagant facilities.