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5 Money Moves To Prepare Your Finances for Summer Travel Season

April 24, 2025

4 min Read

Written by Kerra Bolton

Edited by Levi Leidy

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According to Squaremouth, a travel insurance comparison service, the average cost of a summer trip, especially to Europe, is expected to increase by 38% this year to $10,346.¹

Instead of scrambling to reduce costs while traveling or dipping too deeply into savings, some financial prep now can allow travelers to enjoy the summer travel season without regret.

Here are five money moves to prepare your finances for the summer travel season.

Set an Intention

It helps to define what matters most during one’s summer travel plans before allocating money or making travel decisions.

“Before you book anything, ask yourself what you want from this trip,” said Stoy Hall, CEO and founder of the financial planning firm Black Mammoth.² “Is it relaxation, family bonding, exploration, self-reflection? That answer drives your budget and priorities.”

Hall explained, “You don’t need a five-star hotel to make memories. You need presence, peace of mind and maybe a little paella.”

Once travelers set an intention, they should brainstorm their top three desired experiences for the trip.

“Not destinations or things to buy, but emotions or outcomes,” Hall said. “Then allocate your budget toward those. Want more quality time with your kids? Spend on a spacious Airbnb, not theme park merch. Want cultural immersion? Skip the resort. Book a cooking class or local guide.”

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Map Summer Spending

Before summer travel begins, it’s important to establish a clear spending framework that outlines how much will be used and when. A defined pre-trip budget helps maintain financial control, prevent overspending and preserve a post-vacation savings buffer.

“Evaluate your finances and make sure that going on a vacation is the right move for you at this point in time and how much you have to allocate toward the trip,” said Adem Selita, co-founder of The Debt Relief Company.³

Selita explained, “Set a realistic budget by accounting for almost everything you’ll do throughout the course of the trip. Although it’s next to impossible to account for everything, we can at least try to estimate how much money we’ll spend on food and daytime activities.”

Move Money Where It Matters

Relocating funds with intention can ease the strain of higher seasonal summer expenses. Whether it’s setting aside money regularly or shifting money from discretionary, a proactive approach helps ensure that resources are available for summer travel.

For example, Isheeta Borkar, co-owner and author of Travelicious Couple,⁴ recommended establishing a dedicated, high-yield savings account dedicated for travel.

“Automate small weekly transfers (even $25 or $50) a few months in advance,” Borkar said. “You’ll be surprised how fast it adds up.”

Travelers should look to their current subscriptions and discretionary spending as places to reallocate or save money.

“Pausing a few unused memberships or cutting back on takeout for a month can reallocate hundreds toward your trip,” Borkar said.

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Use Travel Rewards Cards Wisely

Payment methods can shape spending habits and post-trip financial health. When using travel rewards cards, the goal is to stay in control — prioritizing value, minimizing risk and avoiding spending beyond set limits.

“Travel rewards credit cards offer a lot of great perks that make travel less expensive,” said Jeremy Murchland, president and CEO at Seven Corners Travel Insurance.⁵ “Before you open one and perhaps pay an annual fee, make sure it’s really worth it.”

Prospective summer travelers should also research travel rewards credit cards and evaluate whether the offered perks will be used often enough to justify the fees.

“Figure out if you can completely pay off your balance each month,” Murchland said. “The interest you’ll pay is likely more than you’ll ever save in rewards if you carry debt, and you’ll end up spending more in the long run.”

Boost Passive Income

Small streams of passive income can help offset seasonal expenses without tapping into long-term savings. From cash-back apps to rental income or interest-earning accounts, even modest returns can provide a helpful financial buffer during high-spend months.

“For example, some people have a stream of passive income that they use solely to pay for traveling and other ‘fun’ things,” said Adam Hamilton, CEO of REI Hub.⁶ “Maybe you have a finished basement that could be turned into a short-term rental that generates a lot money for you, and those funds could help you afford your summer travel spending.”

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