Big Trips, Smart Budgets: Traveling Well Without Overspending with Erin Budmayr
Travel is one of life’s most meaningful investments. It creates memories, broadens perspectives, and brings families and friends together in ways few other experiences can. But planning a trip can also feel overwhelming—especially when trying to balance dreams with a realistic budget.
In this episode of Tips for Change, we sat down with Erin Budmayr, founder of Life of Travel Company, to talk about how travelers can plan incredible trips without overspending. From budgeting strategies to knowing when to splurge (and when not to), Erin shared practical insights for making travel both memorable and financially smart.
If you enjoy conversations about balancing life goals with smart financial decisions, you might also enjoy our article, Investing in Yourself: Where Wellness and Financial Health Meet w/ Bri Fiedler, which explores how intentional spending can support both personal growth and long-term financial health.
How One Trip Changed Everything
Erin’s journey into the travel industry started with a life-changing experience studying abroad in Spain during college. Before that trip, travel hadn’t been a major part of her life. Living in another country, learning a new language, and experiencing different cultures opened her eyes to travel's power.
That experience sparked a passion that eventually led her to launch Life of Travel Company in 2017, where she now helps clients plan meaningful, customized travel experiences around the world.
Luxury Travel Isn’t Always About Spending More
One of the biggest misconceptions Erin sees is the idea that luxury travel simply means spending more money. In reality, luxury often comes down to intentional spending.
Instead of focusing only on five-star hotels, luxury might mean:
A private airport transfer that removes travel-day stress
A knowledgeable guide who offers deeper cultural insights
Exclusive experiences not available to the public
Ultimately, it’s about convenience, access, and efficiency—creating a smoother and more meaningful travel experience.
Start Planning Earlier Than You Think
For families dreaming of an expensive, once-in-a-lifetime trip, planning early can save a lot of money. This includes trips to Europe, Disney, or an all-inclusive resort.
Flights are typically released about 11 months in advance, and Erin recommends starting planning 9–11 months ahead, especially for high-demand travel seasons like summer in Europe.
Planning early helps travelers:
Lock in better availability
Spread out payments over time
Secure popular room types like family suites or connecting rooms
The earlier you start, the more flexibility you’ll have.
A Common Travel Budgeting Mistake
One of the most common mistakes Erin sees is travelers waiting too long to book key trip details. This is especially true for flights and experiences.
Another oversight Erin noticed was that many travelers don't factor airfare properly into the overall budget. For example, travelers might estimate airfare at $3,000 when premium flights could actually cost $6,000 or more.
Thinking about total trip investment early can help avoid surprises later.
If you’re looking for ways to build stronger money habits before planning a trip, check out our Financial Fitness Challenge, which focuses on creating better budgeting habits and financial organization.
Where It’s Worth the Splurge
While smart budgeting matters, Erin believes some travel elements are worth investing in.
These often include:
Hotel location and comfort
A well-located hotel can save time, reduce transportation costs, and make exploring easier.
Unique experiences
Special activities, like a private museum tour or a cooking class with locals, create lasting memories. Travelers rarely regret them.
These moments often become the highlights people remember most.
Where Travelers Often Overspend
On the flip side, Erin says travelers sometimes try to fit too many destinations into one trip.
While visiting multiple countries might look exciting on paper, it often means spending excessive time (and money) on trains, flights, and logistics instead of actually enjoying each place.
A better approach is to focus on fewer destinations and explore them more deeply.
Consider Traveling During Shoulder Season
Timing can have a major impact on both costs and the overall experience.
For example, Europe’s busiest and most expensive months are typically June through August. But traveling in May, September, or early October can offer:
Lower prices
Fewer crowds
Comfortable temperatures
Even shifting travel dates slightly—like visiting just before Christmas instead of during the holiday week—can significantly reduce costs.
If you’re looking for more ways to stretch your travel budget, our guide on How to Save on Summer Travel Without Sacrificing Fun offers additional tips for making your vacation dollars go further.
Why Working with a Travel Advisor Can Help
Travel advisors bring industry knowledge and firsthand experience that can help travelers make smarter decisions.
Advisors can help answer questions like:
Is this hotel upgrade worth it?
Which tours offer the best value?
Where should you invest more for a better experience?
Just as importantly, they save travelers hours of research and planning time.
A Smart Traveler’s Mindset
According to Erin, financially savvy travelers tend to treat travel as an investment rather than an impulse purchase.
Some families even create multi-year travel plans, mapping out trips over the next three to five years. This approach helps them prioritize experiences and plan financially for the adventures they want most.
Another helpful strategy is treating travel like any other monthly expense—setting aside money regularly so trips become a planned priority rather than a last-minute splurge.
If you're working toward larger life goals alongside travel plans, our article Major Milestones, Smart Money Moves: Loan Tips for Life’s Big Moments explores how thoughtful financial planning can support the experiences and milestones that matter most.
Planning Leads to Better Travel Experiences
If there’s one takeaway Erin hopes travelers remember, it’s this: planning early and prioritizing what matters most can transform your travel experience.
By matching your budget to your travel goals, and focusing on what matters most, you can enjoy great trips without extra money stress.
Because the best trips aren’t always the most expensive ones—they’re the ones you plan thoughtfully.
Want to hear the full conversation with Erin Budmayr? Tune in to the latest episode of Tips for Change to learn more travel tips and budgeting strategies for your next adventure.
Episode Mentions:
About the Guest
Erin Budmayr is the founder of Life of Travel Company, a travel planning agency dedicated to helping clients create meaningful, customized travel experiences around the world. After studying abroad in Spain during college, Erin discovered a passion for travel that inspired her to pursue a career in the industry. She launched Life of Travel Company in 2017 and now works with travelers to design thoughtfully planned trips that balance unforgettable experiences with smart budgeting. Erin specializes in helping families and individuals plan trips that prioritize convenience, unique cultural experiences, and intentional spending.
