Local financial advisor talks ways to save during summer travel 💸💰

MILWAUKEE (CBS 58) -- Amongst economic uncertainty, summer travelers are looking to cut costs. 

Founder and CEO Tony Drake from Drake and Associates talks tips on how to save this summer season. 

"Budget is important," said Drake. "When we think about inflation, it's a hot topic in finances, and we're still feeling it. Travel prices are still about 13% higher than before COVID." 

He said that restaurants are up almost 50% since 2015 and that 90% of travelers plan on putting those expenses on credit cards. While fewer than half of Americans planning to travel this summer say they can't afford it. 

Some tips to help save this summer consists of - 

• Staying within the budget. 
• Packing and preparing meals and food instead of eating out at restaurants. 
• Assigning fixed dollar amounts to lodging, food, transportation, entertainment, etc.
• Avoid putting expenses on credit cards if possible.