Yahoo Finance Ramit Sethi Swears By These 5 Money Rules for Travelers
New York Times bestselling author and personal finance expert Ramit Sethi is known for his advice and guidance on living a “rich life” — one in which you ideally spend your money on what you love and minimize expenses for the things you don’t. Part of Sethi’s process involves setting rules tailored to your life. These rules will help you to optimize the use of your incoming and outgoing money and the way you think about your income. Sethi shared his own rules as they apply to travel, with the goal of encouraging others to think about their own travel rules.
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His five travel rules are:
A minimum of 4 nights per stay;
Fly business class if the flight is longer than 4 hours;
Arrive at a city to begin, and have the last bulk of your time come from a resort;
Leave a $20 tip for housekeeping each night;
Add 50% on top of the hotel sticker price for a true rate.
It isn’t so much about following these rules to the letter as it is about being inspired to do what works for you. You can see that none of these rules necessarily result in less money spent.
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Instead, you’re actually benefiting yourself with a longer, more pleasant vacation, not to mention showing appreciation to the staff members. Staying for at least four nights allows you to have plenty of luxury time surrounded by loved ones. Naturally, a longer stay costs more, but this is about spending money on what you love, making this among the best occasions to make the most of the stay. And, if you’re saving well otherwise through following Sethi’s guidance, you’ll have no reason to feel guilty about the cost of travel — guilt is the opposite of what he wants you to feel.
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