Revenge travel: What is it and how can you navigate it?
With the Fourth of July weekend here, record-breaking numbers of travelers are expected to hit the road and fly for the holiday weekend.
Roger Reynolds, CEO of Reynolds Financial Group, says now, more than ever, there's an incentive to do that.
"A lot of trips were canceled due to the pandemic, so it's a chance to get out and travel again without the worry," said Reynolds.
Experts are calling it "revenge travel," and people aren't just vacationing domestically.
"Global travel is about 80-95% of where it was before the pandemic so it's coming back to par," Reynolds told CBS News Colorado's Mekialaya White.
So, Reynolds says it's crucial to give it some thought before you do so. "Kind of like building a home, you need a blueprint. You need a blueprint for your vacation."
It starts with creating a daily budget for your itinerary: things like your hotel, car rental, and food.
"We recommend using cash for that. Your credit card is more for the emergency expenses but give yourself a cash budget and when that money is gone, you're done. That way you're not going to overspend," he said. "Once we have those, we want to add 10-50% more for the unexpected."
But he says there are practical ways to save money.
"Maybe we have to cut our trip a day short, maybe we travel on non-peak days, maybe we don't go out to eat at the nicest restaurants, maybe we use a discount website to bundle our trip."
It's all a matter of planning ahead.
"Have a plan, stick to the plan and it'll be a success," Reynolds assured.
