Intrepid travelers share the ways they have found to slash vacation travel costs through—repositioning cruises, home exchanges and petsitting.
Vacations of any length can be expensive, especially the long trips we want to take as our work and caregiving responsibilities taper off. Yet, retirees and those approaching retirement can’t risk exhausting their savings to indulge their wanderlust.
To be sure, the cost of travel is rising. In 2013, overall annual leisure travel costs averaged $3,311 per household, a $400 increase from the preceding year. Three in 10 households spent $4,000 or more, according to a recent report by Phocuswright, a travel industry research firm.
Lodging and transportation account for a sizeable proportion of the typical traveler’s budget, each making up about 25 percent of total travel costs, according to the U.S. Bureau of Labor Statistics.
So how can you afford a longer trip that lets you travel slowly and savor and connect with people and places? I interviewed several boomers — all intrepid travelers — and found these three creative ways to substantially slash travel costs.