How to Stretch Your Travel Budget When Costs Rise in 2019
*By Carlo Versano*
If you're eyeing the coming year for that big vacation you've been meaning to take, gird yourself for higher prices.
Flight and hotel prices are edging up around three percent on average, according to Mark Ellwood of Condé Nast Traveler, due in part to higher fuel and labor costs, more long-haul trips, and good old-fashioned supply and demand.
"When you're booking that big bucket-list trip, you gotta plan ahead," Ellwood told Cheddar.
To save money on flights, Ellwood stands by his favorite booking sites: Airfarewatchdog.comand Scottscheapflights.com, which allow users to plug in routes and timeframes and sit back and wait for alerts about sales. This year, he's also adding nextvacay.com to his recommendations, a relatively new member-only site that allows users to put in their home airport and gets deals to far-flung places.
Those big-ticket vacations are becoming more popular among millennials, who tend to spend money on experiences over products.
When booking hotels, Ellwood said the industry is paying more attention to personalized service ー remembering that you like a room far from the elevator, for instance. That's why he always recommends guests sign up for hotel loyalty programs, even if they don't know if they will ever stay at that hotel again. "It indicates to them that you might be a long-term loyalist, and they'll start learning what you like."
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
Sheryl Palmer, CEO of Taylor Morrison, talks tariff uncertainty, being a female leader in a male dominated industry and what homebuyers need to know. Watch!
