Want to take the trip of a lifetime but have to stick to a tight budget due to rising cost of living? Check out these seven savvy and lesser-known tips for saving money for your next big trip.

1. Bundle your hotel and flight

Booking your hotel and flight together through travel booking websites such as KAYAK or Expedia can significantly cut down on costs. “You can generally save a few hundred by choosing a bundled package,” says Matt Woodley, founder of Creditinformative.com.

And if you have a flexible schedule, you can save even more. Packages for last-minute holidays may often be cheaper because the hotel, travel company or airline aims to book seats and accommodations that haven’t sold, so they may offer discounts.

2. See two places for the cost of one with stopovers

A popular offering by airlines in Europe and the Gulf States, stopovers are extended layovers (think days, or even a week) that allow you to see another city before heading to your final destination. It’s the best way to fly to two cities for the cost of one.

Some carriers will even offer deals on travel packages and accommodations in their home hubs. For example, Turkish Airlines offers day-long tours of Istanbul and two nights free in a four or five star hotel. Icelandair has one of the world’s premiere stopover programs. Explore Iceland’s capital and the surrounding country on a stopover spanning one to seven days.

3. Sign up for emails on travel deals

There are so many travel bloggers and experts who can keep an eye on the good deals for you. Be sure to sign up for their newsletters for details on the cheapest flights and upcoming hotel deals.

Here are a few gems for your inbox:

Thrifty Traveler: The staff at Thrifty Traveler scour Google Flights to compile their newsletter listing the best deals for flights across the world. Just last week, they listed round-trip, non-stop fares to Copenhagen, London and Amsterdam in the $300s and $400s.

Air Traveler Club: Subscribe “to save 40% to 80% on flights to the Asia Pacific. Get Hacker Fares, trending travel news and actionable advice,” offers Air Traveler Club.

Mickey Visit: If you love theme parks and want to bring along the kids, this is the perfect weekly tipsheet. The Mickey Visit team curates travel and cost-saving tips for Disney, Universal and more.

Going: “Most deals are 40-90% off normal prices with great itineraries from the best airlines. If it's not an amazing deal, we won't send it,” Going says.

4. Make your credit cards work for you

Use a travel rewards credit card to accrue miles, points or cashback to use on travel. But always pay the balance off in full every month to avoid interest. Consider airline and hotel brand cards that offer you loyalty status, which could include deals such as checked bags or room upgrades.

While you’re on your trip, you’ll want to use a card that doesn’t charge foreign transaction fees. Many banks will charge a foreign transaction fee for every purchase made abroad. It’s a double win if your travel points accruing card is sans foreign transaction fees. That way, you can earn toward your next trip while enjoying your current adventure!

5. Avoid ATM fees

When you can, use bank ATMs, which usually have a more competitive conversion rate. You can also withdraw larger sums at one time to avoid ATM fees, just be sure to divide the amount to store in several safe places.

6. Pack light

Pack only a carry-on bag. You can access local laundromats or check out this portable, antimicrobial washbag for your travels. 

7. Protect your investment

You don’t want to lose money because you didn’t plan for the unexpected, which is why travel insurance is essential. Let’s say you have to cancel your trip because your kid caught a bug from school, or a severe weather event was forecasted for your destination after you booked your flight. Without travel insurance, you could lose a lot of money if the cost of your tickets and hotel were non-refundable. Allianz Global Assistance offers Trip Cancellation and Interruption benefits for certain pre-paid, non-refundable expenses in the event your trip is canceled or delayed for a covered reason.

You should also know that your domestic health insurance may not fully cover you in the event of medical and dental emergencies abroad. Some of our Allianz Travel Insurance plans include Emergency Medical benefits for covered medical and dental emergencies during domestic and international travels.

One of our most affordable plans is OneTrip Basic, which offers Trip Cancellation benefits, Trip Interruption benefits, Emergency Medical and more. If you’re renting a car, save at the counter by adding our One Trip Rental Car Protector, which covers you for up to $50,000 in rental car damages for just $11 per calendar day.

Get a quote today to find out how we can protect you on your travels.

Related Articles

• How Travel Insurance Can Save You Money [Video]
• When to Save (and When to Use) Your Credit Card Travel Points
• One Itinerary, Different Travel Budgets: How to Make Group Trips Work