Avoid making these 7 mistakes when you travel

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You’re all packed and ready for your trip.

You know what you’re paying for airfare, hotel and other big ticket items. You even have money set aside for spending.

Yet, one wrong move in the planning process — or while you are away — can blow your budget.

“People tend to overspend on vacation because the excuse ‘I’m on vacation, I’m treating myself’ is easily validated or because they don’t budget correctly,” said Ashley Rossi, editor at online travel magazine SmarterTravel.

It could be something as simple as not booking the right accommodations.

There are also things you may not have thought about that can easily drain your wallet if you haven’t planned ahead. And that’s not good news, especially for those who are already shelling out a lot of money for their vacation.

According to the Invest in You Spending Survey from CNBC + Acorns in partnership with SurveyMonkey, 34% of Americans said they’ll spend between $1,000 and $4,999 on summer vacations this year. Meanwhile, 26% said they’ll drop less than $1,000. The survey polled 2,888 Americans from June 17 to 20.

With that in mind, here are seven common spending mistakes people make when planning and going on vacation.

1. Booking a flight at the last minute
One of the first steps of vacation planning is booking a flight. Timing is key when it comes to getting the right price.

For most parts of the world, ticket prices tend to rise as the departure date draws near, explains Alexis Tiacoh, spokesperson at travel site Expedia.

“Waiting to book at the last minute can be an expensive gamble,” she said.

Her recommendation: Buy your ticket three weeks ahead of a trip. For the best deals, book over the weekend, which she calls the “sweet spot” for fare savings.

2. Not weighing accommodations options
Are you traveling alone, as a couple or as part of a larger group?

While booking a hotel room may work for one or two people, it may make sense to look elsewhere if you have more in your group.

The average daily rate of U.S. hotels was $128.94 as of February 2019, according to market data company Statista. In Europe, the average daily rate is 116.38 euros (approximately $131 U.S.) as of May 2019, data firm STR reported.
Source: https://www.cnbc.com

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