If you’re still working out your summer vacation plans — and like many of us, watching your costs — it could be a good year for a road trip. Gas prices are lower than they’ve been in years heading into summer. They’re averaging about 40 cents a gallon cheaper than this time last year and are forecast to stay low for the season. Hotel prices are also on the decline, and averaged 2.4% less in April than a year earlier, according to the latest Consumer Price Index. That may not sound like much, but given the trajectory of inflation generally, it’s actually pretty good news for travelers, according to the U.S. Travel Association. In fact, the open road seems to be calling more Americans as economic uncertainty makes them more careful about their travel spending, according to a survey by Deloitte. Between late March and early April, the percentage of travelers planning a road trip rose from 64% to 71% while the share who were planning to fly went down. At the same time, travelers’ budgets for summer trips fell 7.8% to $4,606, on average. Experiences like travel “remain non-negotiable, even if it means trading restaurants, shopping, and second trips for one meaningful getaway,” analysts at KPMG, the big consulting firm, wrote in a recent report on consumer spending. “We’re seeing a more selective and cost-conscious summer travel season.” If you do plan to fly, there’s some good news there too. Fewer flyers means lower prices. Airfares are about 8% less expensive than a year ago and the cheapest they’ve been since 2022, according to the CPI. So what? A road trip is one way to make affordable travel plans without a lot of lead time. But even if you have your heart set on a wheels-up destination, you may be able to find some good deals this year. Here are a few travel tips to help you keep your costs down no matter where you’re going:

•   Consider traveling in June or September to avoid peak rates.

•   Set a daily spending limit for food, activities and any extras.

•   Look for discounts on last-minute trips on the SoFi app.¹

•   Book hotels that include breakfast.

•   Look for free walking tours to save money and avoid crowds.

•   Bring your own reusable water bottles.

Related Reading

•   25 Ways to Cut Costs on a Road Trip (SoFi)

•   How to Calculate the Cost of Gas for a Road Trip (TripSavvy)

•   Summer 2025 Is a 'Perfect Storm for Cheap Flights,' Expert Says: 5 Destinations That Won't Break the Bank (CNBC)

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¹ Terms, and conditions apply: This SoFi member benefit is provided by Expedia, not by SoFi or its affiliates. SoFi may be compensated by the benefit provider. Offers are subject to change and may have restrictions, please review the benefit provider's terms: Travel Services Terms & Conditions.

The SoFi Travel Portal is operated by Expedia. To learn more about Expedia, click https://www.expediagroup.com/home/default.aspx

When you use your SoFi Credit Card to make a purchase on the SoFi Travel Portal, you will earn a number of rewards points equal to 3% of the total amount you spend on the SoFi Travel Portal. Members can save up to 10% or more on eligible bookings.

Eligibility: You must be a SoFi registered user. You must agree to SoFi’s privacy consent agreement. You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia's website or app, or any other site operated or powered by Expedia is not eligible. You must pay using your SoFi Credit Card. SoFi Member Rewards: All terms applicable to the use of SoFi Member Rewards apply. To learn more please see: https://www.sofi.com/rewards/ Terms applicable to SoFi Member Rewards: https://www.sofi.com/terms-of-use/#rewards

Additional Terms: Changes to your bookings will affect the rewards points balance for the purchase. Any canceled bookings or fraud will cause rewards points to be rescinded. Rewards points can be delayed by up to 7 business days after a transaction posts on members’ SoFi Credit Card ledger. SoFi reserves the right to withhold rewards points for suspected fraud, misuse, or suspicious activities.

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