How To Control Your Spending to Earn Bonuses for Traveling

by Bert Maxwell /
Bert Maxwell's picture
Aug 01, 2014 / 0 comments

Setting up a budget can be one of the easiest tasks in financial management. Following that budget is often much more difficult. For many people, sticking to a specific guideline for managing money takes a great deal of determination and constant vigilance. However, maintaining this level of control can provide you with the funds to do just about anything comfortably. By sticking to your budget while traveling, you can make your money go further while still being able to enjoy the area you're visiting.

How To Control Your Spending to Earn Bonuses for Traveling


Using Your Miles Credit Card to Build Rewards

By signing up and meeting the basic requirements for rewards cards, you can begin accumulating the methods to pay for flights and hotel stays and can help you decide which one is right for you. Depending on the types of rewards, you could even pay for a meal at a nice restaurant. Each time you swipe your credit card you could be earning bonuses. How do you go about building your rewards accounts to pay for a large portion of your traveling expenses?

•    By using your card wisely: Too many people use a rewards card for merely collecting miles and points. Keep your purchases to only things you normally buy throughout any given month.
•    By setting a mileage goal: Depending on which mileage plus credit card offer you sign up for, you can estimate how many miles you need to save by visiting the website. From airline tickets to available hotels and restaurants, you can get a rough idea of how many miles you need to save before traveling.
•    By using the card on specific purchases: Many rewards cards allow you to earn double the miles if you spend money on certain things or at specific locations. Some provide bonuses for gassing up at a particular station or using your card to stay at various hotels. If you can add those expenses to your budget without going out of your way for the rewards, it can help you generate those miles faster.
•    By transferring miles: Sometimes mileage companies will offer bonus miles for transferring your account to their platform. However, you want to make sure that the deal will be beneficial. If you have to spend money to transfer an account, you need to make sure that the bonus is worth the expense when considering how much you had to spend in order to earn the proposed bonus. You may find that you actually lose money in the process.


The Right Way to Use Your Rewards Credit Card

As mentioned earlier, many people are drawn to swiping their cards in order to earn rewards even on goods they don't need. The best way to approach using a rewards card is to pay for goods and services for which you would already pay. Instead of forking over the cash at the grocery or paying your electric bill, use the card instead. It creates less of an impact to your monthly budget while accruing those mileage rewards.


The Impact of Random Spending

One of the main reasons why you don't want to go hog wild at the cash register with your credit card is because it can put you in financial jeopardy  quite easily. Each time you swipe that card, you need to pay that money back with interest. Making purchases for goods and services you already use will probably not put you in financial straits. However, maxing out your new card's limit on various goods you would not otherwise purchase just to earn the rewards means you are spending extra money and adding interest that you'll need to pay as well. This means that the vacation is actually less valuable in the long run when considering the amount of money you spent on things you don't need.


Saving Money While Traveling

Once you begin building up your miles, there are many ways that you can travel without the extra costs. If you have developed your budget wisely, you can add some extras of the experience without it costing you an arm and a leg. What can you do to make the travel monies go further?

•    Book flights early: For many airlines, tickets are cheaper the further into the future you go.
•    Travel on weekdays: Did you know that it’s cheaper to fly on Tuesdays than it is on Fridays?
•    Off-season Travel: If your destination experiences tourist seasons, traveling during the off-season could be vastly cheaper for flights and hotel stays.
•    Online Deals: Many hotels and other accommodations post incredibly low-priced vacation deals online.
•    Use Coupons: Sites like Groupon offer mass deals on a variety of travel options and activities.



Do what you can to follow your budget diligently. It may be difficult at times, but you need to realize that saving money and being frugal now can help pay for travel expenses later. And who doesn't want to travel more?