By                    John Csiszar

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How Many Respondents Went Over Budget?

Overall, 33.75% of respondents in the survey indicated that they went over budget, with 11.38% stating that they paid significantly more than their budget. A minuscule 6.46% indicated that they came in under budget.

What Was the Average Travel Budget?

Although the “over budget” figures are helpful, they are meaningless when not connected to actual numbers. To get a grasp as to how much Americans are actually spending on their vacations, one of the survey questions asked how much money respondents spent on their last vacation. Nearly 27% of respondents indicated that they spent over $2,000 on their last vacation. However, just under 35% indicated that their most recent travel budget was $500 or less. Overall, the top response in the survey was a budget of between $1,001 and $2,000.

POLL: How Much Do You Expect To Spend on Travel This Summer?

Where Did Respondents Spend More Than Expected?

Survey respondents seemed surprised by how much they spent in various categories. Whether this was due to increased costs across the board or higher-than-expected spending by respondents is unclear, but it is likely to be a combination of these factors. One-third of respondents indicated that the cost of accommodations, travel and entertainment were all more than expected, while a whopping 44.65% noted that they spent more than expected on dining. Fees were also noted as being higher than anticipated by 17.36% of respondents.

How Did Respondents Attempt To Save on Travel?

Nearly 40% of respondents indicated that they made their own meals on their last vacation to save on costs. This is a smart strategy, as nearly 45% of survey participants indicated that dining out was more expensive than expected. More than one-third indicated that they used public transportation and/or avoided renting a car to save on costs, which is a particularly appropriate strategy in an era of skyrocketing fuel costs. About 30% used a discount travel site in an effort to save money, while just over 23% indicated they used airline or hotel points.

Other Tips for Saving on Travel

As the survey makes clear, travel costs were generally more than expected for survey respondents, and a variety of factors made many of them spend over their budgets. If you’re planning a trip for later this year, you can draw some inspiration from the survey to rein in your own costs. Here are a few suggestions, based on information gleaned from respondents:

Start With a Larger Travel Budget

Simple as it sounds, the easiest way to remain under budget is to start with a larger budget from the beginning. The best way to accomplish this is to slightly delay your vacation and give your savings a bit of time to grow. If you contribute $300 per month to your vacation budget, for example, waiting just three more months to take your trip will increase your budget by nearly $1,000. While no one wants to delay a trip, if it means you can travel stress-free without worrying about going into debt to finance your vacation, it makes sense.

Shop Around

Two of the most competitive industries in the world are lodging and food service. This provides great opportunities for travelers willing to shop around. In any but the most remote of locations, there are plenty of options for both restaurants and lodging. If you can avoid the most expensive hotels and eateries, your vacation budget can stretch much further. Even if you’re looking for a five-star experience, there are likely choices you can make that will help keep some of your money in the bank. For example, rather than staying at a name-brand, international five-star hotel, check out private lodgings in the area, or even locally run hotels. You may find that the class and service of these offerings equals or even exceeds the more well-known options. 

Watch Out for Fees

Fees are often well hidden by travel service providers but can surely bust your budget if you don’t watch out for them. From airline service fees to hotel “resort charges,” these not-so-little add-ons are easy to dismiss but can wreak havoc on your travel budget. Airline credit cards can help you avoid bag fees and may even provide access to airport lounges, while hotel loyalty programs can provide perks like waived parking fees and free breakfast for your entire group.

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