Travel is expected to rebound strongly in 2022, but the costs might surprise you, especially if you haven’t planned a big trip since the pandemic began.
. Setting aside three to six months worth of living expenses is commonly recommended by financial planners, and before you splurge on travel, it's smart to put money aside to cover possible emergency expenses, like unexpected medical bills.
To avoid the increasing cost of travel, you can also consider these three tips to help you budget for your trip.Start by reviewing all of your recurring expenses, particularly the monthly statements for your credit cards. What might have been an indispensable subscription during the pandemic, such as video streaming apps or food delivery, might be something you can cut to boost your travel budget.
and labor shortages, which means prices could rise further as demand for travel grows. If you'll need a rental car, be sure to check on availability and costs before you book a flight and hotel.The only certainty about the pandemic has been uncertainty, so consider travel insurance if your trip is expensive and you want that extra peace-of-mind when it comes to cancellations.
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