How to save 40 pct off your travel budget

ABS-CBN News

Posted at Feb 08 2014 01:02 PM | Updated as of Feb 08 2014 09:02 PM

MANILA, Philippines - Are you now planning your summer vacation? Or thinking of short trips on long weekends?

ANC On The Money's financial adviser Salve Duplito shared some tips on how to save 40% off your travel budget.

"When you travel, you spend on memories... If you plan well, travel does not have to be expensive," she said.

Duplito said planning early allows you to book flights and hotels at huge discounts, or allow you to stay with friends or relatives. Overall, you may spend 40% less on your trip, compared to sudden trip decisions.

It's easy to plan early since the government already showed a list of official holidays. One should take advantage by booking your flights in advance in preparation for long weekends and holidays.

Duplito said one should keep a close eye on airlines' seat sales and piso fares.

Amid a highly competitive environment, airline companies are now fighting for passengers by offering low fares.

A review of Philippine Airlines and Cebu Pacific's sale history from 2008 to 2013 showed they give the juiciest seat sales at the start of the year (January to February) or end of the year (November to December).

However, compare budget airline tickets with regular airlines. No frills doesn't necessarily mean cheaper. You may choose not to have any add-ons to make your fare cheaper, but if there are delays at the airport, you may be forced to buy food on the plane at higher rates.

Also, make sure you also check your flight schedule in advance. Some airlines have changed flight schedules without informing its passengers.

Duplito said planning your trip in advance saves money.

"It’s simple. Planning saves money. Convenience costs money.By diligence, watchfulness , smart budgeting and early planning, you could now load up on beautiful memories through spending your long weekend traveling without giving up too much money," she said.