Summer is here. People are packing their bags for an adventure to a new city, the mountains, the beach and other coveted destinations.
Attributed to Jessica Jansen at Bank of America
A recent study found that 43% of American travelers find solo travel appealing, a trend that is expected to grow in 2025. Traveling alone allows for freedom and flexibility, self-discovery and more authentic experiences but can have a higher price tag without someone to split the bill.
Though solo travel can seem daunting, we all deserve our dream vacation. Fortunately, there are many ways to plan ahead to cut costs and maximize financial rewards.
- Use price trackers: Keep a constant eye on prices when booking flights and hotels, as they often fluctuate, and new deals can pop up unexpectedly. Set price alerts with aggregators like Google Flights to help you get the most bang for your buck.
- Consider the offseason: Peak season travel can often be more hectic and more expensive. Fortunately, traveling solo means more flexibility with timing. Consider traveling in the offseason to take advantage of great benefits like cheaper prices and fewer crowds.
- Stick to your budget: Set a travel budget with limits and enroll in travel rewards programs that earn points, cash back and special offers. Use your banking app to automatically set aside a few extra dollars every week into your savings.
- Explore perks from your bank: Bank of America’s Preferred Rewards program, for example, provides members with a credit card rewards bonus of 25% to 75% when using an eligible Bank of America credit card. Members can also receive an exchange rate discount on mobile and online orders of foreign currency.
With these tips in mind, solo travelers can plan ahead to get the most out of their dollar and cut down on expenses without having to give up their independence.
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Jessica Jansen is a senior vice president and business banking market executive for Bank of America.
