Summer may be winding down, but more people than ever are traveling this year. According to the Transportation Security Administration, during the first quarter of 2023, TSA officers screened more than 191 million passengers at security checkpoints nationwide, compared with 158 million screened in the first quarter of 2022.
It goes without saying that traveling is expensive. Between airline tickets, hotel rooms and a rental car if you need it, the average trip can cost well over $1,000. In addition to being expensive, travel this year has been difficult, to say the least; with heightened delays and cancellations, traveling has left many out of money and frustrated in recent months.
With the last summer holiday swiftly approaching — and already record-breaking crowds, Labor Day travel is expected to be busier this year than any other. It’s easy to say pack your patience and give yourself plenty of time, but it’s better to have proven strategies and airline policies on your side when traveling over this busy holiday weekend or at any other time.
Here are four tips to save money and time when traveling:
1. If your flight is canceled...
This recently happened to me when I was scheduled to fly out of LaGuardia to my hometown, Charleston, South Carolina, on the first flight out of the day. I received a quiet email at 3:30 a.m. stating that my flight had been canceled. That was it: “Your flight is canceled; thank you for being a great customer.” To say I was annoyed would be an understatement — and I felt like there was little recourse.
Here is what I should have done: If your flight is canceled, under federal law, you are entitled to a full refund if your flight is canceled for any reason, and you accordingly choose not to travel. I ended up exercising Herculean efforts to get my flight rebooked, but the moment I received that email, I was entitled to a refund.
2. If your flight is delayed...
This is the more likely scenario and happens far more often than cancellations. If a flight is delayed, the airline is not obligated to give you a refund unless the delay qualifies as significant — typically meaning it delays a domestic flight’s departure or arrival by three hours or more, or an international flight by at least six hours. In the event of a delay, my advice is to immediately look into other flights and carriers to your destination. Some airlines will book you on another airline regardless of the reason for the delay, but especially if the delay is their fault.
If you find yourself stranded in the airport for several hours or longer, ask the airline to provide vouchers for meals and maybe even overnight accommodations.
3. How to get ahead of the lines…
When traveling for vacation, the last thing you want to do is spend more time in the airport than you have to. TSA Precheck allows you to move through the security checkpoints quicker without removing shoes, laptops, liquids, etc. If you ever find yourself running late to catch a flight, TSA Precheck can definitely make the difference between making the flight and missing it.
Global Entry expedites admission back into the U.S. after international travel. With a line separate from the regular security checkpoint, during popular travel times, you will really see the difference in how much quicker the Global Entry process can be.
As for costs for each, remember: time is money. TSA Precheck is $85 for five years, but if you really want the biggest bang for your buck, go ahead and get Global Entry which is $100 for five years and includes TSA Precheck.
4. How to budget to reduce travel stress…
I wouldn’t be a financial expert if I didn’t include a tip on budgeting. Before delays, cancellations, or TSA checkpoints, there is budgeting for the trip so that you can enjoy it without financial stress. When planning a trip, include what I like to call “inconvenience money” — a necessary emergency fund if you need to pivot during a trip. That way, if your flight is delayed or canceled, you have money for meals, a hotel, or to rebook with another carrier and can subsequently submit your receipts for reimbursement from the airline.
Remember: The last thing you want is to be stuck in the airport without options.
Jennifer Streaks is Senior Personal Finance Reporter and Spokesperson at Business Insider and a financial contributor at The Grio. A nationally-recognized expert on money and affordable lifestyle living, Jennifer is an established financial columnist who has been featured on CNBC, Forbes, ABC, MSNBC, CBS, and more.
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