Speaker 1: Hello, Brian Kelly here with The Point. Today I'm going up against Chat GPT-4 to give you my best tips on how to travel on a budget. Budget. Traveling isn't about staying in hostels and flying on the cheapest airline. It's about mindset. It's about winning at the system you book with. It's not always about flying on the cheapest option, whether it's a hotel or an airline, because when you consider all the rates out there, cheap can end up being expensive. So here are my best tips for traveling on a budget. [00:00:30] It's important to be flexible. The biggest money saver when traveling is flexibility. Also, when possible, take advantage of points to save big. Personally, I don't think there is a best budget travel destination. You can go to the most expensive city in the world, but if the hotel and flight are free, you can go eat street food. So I don't like to be pressured into thinking that I have to go to this date and this place because there are amazing deals all the time. So, [00:01:00] We encourage you to use technology, flight alerts, and vast datasets to determine the best time to buy a flight. Now let's listen to Chat GPT-4. I'll take away 1 point for misleading information and give 1 point for very insightful information. I'm a points guy, so I promise to be fair. Speaker 2: These tips will make your budget trip more fulfilling and enjoyable. Plan ahead. Booking early can help you secure cheaper flights and accommodations. Speaker 1: Plan far in advance [00:01:30] You can usually get the highest airfares, which is why airlines love to take advantage of the Nervous Nellies who book far in advance. We call it the Goldilocks rule. Avoid making two last minute bookings because that's when fares and prices go up. If you're a business traveler, arriving too early actually costs you more. On average, there's a sweet spot. Domestic flights have the lowest fares around 8 weeks before the flight, and international flights 3-4 months before. And last minute bookings are great. [00:02:00] Last minute deals work well, especially if you have frequent flyer miles. What most people don't realize is that last minute airlines release a ton of super cheap points. They want to fill every last seat, so they sell tickets. Speaker 2: Travel in the off-season and avoid peak times for lower prices and less crowded accommodations. Consider hostels, budget hotels, and vacation rentals. Speaker 1: Budget means different things to different people. Staying in a hostel will certainly save you money. [00:02:30] There are ways to save money, but also ways to stay in nice hotels that have free breakfast, are safe, and don't smell like corporate codes or points. So I don't think this is the best advice for everyone. Not many people want to stay in young people's hotels. They're generally young people's hotels. So I think this advice was narrowly focused and basic. So I'm going to knock half a point off. Speaker 2: Eat like a local Opt for street food and local eateries [00:03:00] Use public transportation instead of tourist spots. Save money by taking advantage of free activities on buses, trains, and subways. Explore free attractions like parks, museums, and historical sites. Pack smart and avoid extra fees by traveling light and bringing only the essentials. Use travel apps. Apps can help you find discounts and navigate foreign areas efficiently. Set a daily budget and track your spending to avoid overspending. A local SIM card. [00:03:30] Use a local SIM card for data and calls to reduce roaming charges. Speaker 1: Unless you need super high speeds. The time it takes to change your SIM card and get a different phone number, and all the hassle that comes with it, is probably not worth it. Speaker 3: In 5 words or less, what is the cheapest day of the week to fly? Speaker 1: Generally speaking? Tuesday, Speaker 2: Tuesday, or Wednesday. Speaker 1: Tuesday is cheaper. Speaker 3: What is the cheapest time of day to fly? Speaker 1: Generally speaking, [00:04:00] Midday, Speaker 2: Early morning or late night? Speaker 1: Night? From my experience traveling the world, airports are quietest during the day and airfares are generally driven by demand. So I don't think this is good advice. Speaker 3: Which credit card offers the most travel perks? Speaker 1: American Express Platinum Speaker 2: Chase Sapphire Reserve Speaker 1: If you look at perks alone, American Express Platinum trumps Sapphire for lounge access. And when it comes to purchase protection, which is a perk that many people underestimate American Express for, they'll appreciate American Express. [00:04:30] If you buy something while traveling and lose it, you get a discount on your purchase. The Chase Sapphire Reserve has certain parts, like coverage for flight delays and cancellations. I see the edge with Chase Sapphire. But how often do flights get canceled? It's a small percentage. In addition to Global Entry and PreCheck that the Reserve offers, the American Express Platinum has Clear, which helps you at the airport. Chase. The Sapphire Reserve doesn't win on points, but that's inarguable. Amex Platinum does Speaker 3: win on perks. What are the best international destinations for travelers on a budget? Speaker 1: [00:05:00] Southeast Asia, Latin America, Speaker 2: Mexico City, Bangkok, Lisbon. Speaker 3: What are the best destinations within the country for travelers on a budget? Speaker 1: Road trip? Florida, Georgia, Texas, Speaker 2: New Orleans, Austin, Las Vegas. Speaker 1: New Orleans can be very expensive, as can Las Vegas, especially at peak times. Speaker 3: What's the best part about traveling on a budget? Speaker 1: Save money. Travel more. Speaker 2: Discover hidden gems at affordable prices. Speaker 3: [00:05:30] What is the hardest thing about traveling on a budget? Speaker 1: Turning down cool experiences, Speaker 2: Limited options, meticulous planning, Speaker 1: Chat, GPT-4, So you're not giving good advice to budget travelers because they have so many options. Speaker 3: What is the most important thing when traveling on a budget? Speaker 1: Keep an open mind, meet friends, Speaker 2: Plan carefully and budget, Speaker 1: It's an experience, it's a lifestyle, and it's uplifting if you do it right. Two negative points [00:06:00] Speaker 3: What is the most common misconception about traveling on a budget? Speaker 1: That it's about making sacrifices. Speaker 2: That it's lower quality or has a lot of limitations. Speaker 3: Why should people travel? Speaker 1: To change your mindset? Speaker 2: Because it broadens your horizons and creates memories. Speaker 1: That's the first point I'm going to tell the AI today. Great job. We've asked a lot of questions. Let's ask the AI what questions we should ask when traveling on a budget. [00:06:30] What's available? Speaker 2: What's affordable accommodation? What activities are available for free? How can I save money on food? Speaker 1: It's basic, but it's not wrong. Speaker 1: The biggest problem with asking an expert a question or chatting about GPT tips is that you don't get the full picture. And I hate to say the cheapest day of the week to fly is Tuesday. That's common, but you'll find super deals on Fridays. Deals come and go. [00:07:00] The key is to know the value of a deal, know when to take advantage of it, and use technology to your advantage. These days, there are many tools you can set to notify you when a flight drops below a certain price, so you can buy it right then and there. And there are tips: even after you've bought your flight, many airlines will allow you to change the price if the flight drops. That's cheap travel. I hope today's tips were good, but I encourage anyone who wants to travel more and spend less to learn about the system. [00:07:30] The best value travel comes from being flexible, smart, and knowing how to navigate the different systems of each country you visit. I recommend going to countries where the US Dollar is strong. Some countries offer better exchange rates on the black or grey market, but ultimately this means your dollar will last longer. So think of budget travel as maximizing your budget to save money and travel more.
