WASHINGTON — With Thanksgiving just a few days away, millions of people are expected to hit the road to make it to family in time for turkey, pie and celebration.
A new report shows that depending what you’re doing, you could actually save some money while traveling this year.
Channel 2 Washington Correspondent Nicole D’Antonio spoke to experts about the costs of taking a trip this holiday season, and where you can save the most.
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Researchers found that the price of hotel rooms and rental cars has gone down since the holiday season in 2023.
However, for those planning to fly instead of drive, researchers say airfare prices are up more than 4% since last year.
Ted Rossman at Bankrate said how everything adds up is what will decide how much you could end up spending for a holiday trip this year.
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“It’s that cumulative effect that’s important,” Rossman said. “It’s a few years of higher prices or housing and food and childcare and so many other things. That’s what’s getting people.”
He said it’s not the travel cost skyrocketing, but the cost of everything else together that’s adding up.
A report on NerdWallet’s Travel Price Index looked at the prices for airfares, lodging, meals and rental cars. Overall, travel prices were up 12% compared to five years ago, but researchers said some trips themselves are actually cheaper, particularly with costs of cars and accommodations.
If you’re planning a vacation, experts say you can save money on meals by visiting local grocery stores instead of eating out, and that you should put more money away for flights.
Flight deals and specials can also help pay your way.
“Specific to travel, could you use some points and miles to offset the cost? Sometimes people forget they have these lying around. Whether it’s credit card rewards, airline miles, hotel points. You may be sitting on some real value there,” Rossman said.
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