How to Take a 5-Star Vacation on a 3-Star Budget

by | Oct 20, 2016

Traveling has been a passion of my family’s for many years now. One of things I like the most about the licensing lifestyle is that it’s given me the freedom to pick up and take off at will. That’s the beauty of passive income, really. My bucket list is a mile long. Slowly but surely, I’ve been working my way down it. Along the way, I’ve learned how to travel in style without spending a fortune. Here’s how to have a five-star vacation on a three-star budget.

1. Do your research. When we decide we’d like to take a trip, the first thing my wife and I do is look at what high-end travel agencies offer for that country. We focus on the regions we’d like to visit and look at corresponding itineraries. We try to get a sense of what’s doable in the amount of time we have. More likely than not, we will want to experience the same activities and destinations that the high-end agency offers. After we’ve done some research, we create a list of the experiences we’d like to have. To get a good deal, I think you need to have a firm grasp of you want first and foremost.

2. Shop around. After we’ve come up with an outline of what we’d like to do, we shop it around to different agencies. When we went to India last winter, we were amazed to discover that we could experience more or less the same itinerary as the fancy agency at about half the price. The reason why is because we relied on a travel broker to help us. They have indispensable contacts on the ground. When we submit a proposal to our broker, Zicasso, she comes back to us a minimum of several different bids. Because she works with local groups who are on the ground, the ideas they come up with are often better and more creative than ours. And the reality is, these are the same groups that service the high-end travel agencies! The service is the same, but the price is better.3. Be willing to schedule different parts of your trip with different agencies. When we went to India, we ended up splitting our trip between two different agencies, which some might consider a headache. But doing so actually worked to our advantage! We were delighted that they each tried to win us over. As a result, we got better service, including room upgrades, everywhere we went.

4. Consider your timing. Traveling during the “high” season is more expensive than other months, but the weather is usually better. I advise scheduling your trip during the fringe months on either side. It’s worked out well for me. You might have a few hot, muggy, or rainy days, but the weather won’t have completely changed yet.

5. Choose locales where your dollar will go further. If your heart is set on going to Europe, research the countries where your dollar will go further, like Spain or Greece. Consider staying in smaller towns rather than big cities. Getting a guide and a driver for the day is much less expensive than staying in a fancy hotel in a big city. Of course, there are parts of the developing world that are more affordable overall, like South America, India, and parts of Asia.

6. If you can, look for last-minute deals. Expensive trips are sometimes steeply discounted. We were able to go on a cruise for 70% less because we were able to depart with 10 days notice. In order to take advantage of these kinds of opportunities, make sure to keep your passport up to date. Recently a friend of mine was unable to board his plane to Amsterdam because his passport was set to expire in less than 90 days. Even though his trip was scheduled to begin and end within time frame, the Netherlands stipulates that your passport must be valid for six months past your date of travel. Checking these kinds of regulations ahead of time would have saved him time and money!

For many of us, traveling is one of the truly great joys of our lives. Use these tips to travel more often and for longer!

Originally published on Inc.com August 19th 2015.

Author

  • Stephen Key

    Stephen Key is an award-winning inventor, renowned intellectual property strategist, lifelong entrepreneur, author, speaker, and columnist.
    Stephen has over 20 patents in his name and the d...