Easy ways 'to cut down on costs' from traveler who's visited every country

Global travel expert Lee Abbamonte has visited every country in the world, including the North and South Poles.

Sound pricey? Maybe not — since he did it all via maximizing his credit card rewards.

“[Traveling] is expensive, but there are ways to cut down on costs,” Abbamonte told Yahoo Finance during a recent interview.

The 40 year old, who became the youngest American to travel to every country at just 32 years old, pays for the majority of his trips with “points, miles and rewards.” He also says he travels on the cheap by creating realistic budgets, and setting long-term goals.

Lee Abbamonte has traveled to every country in the world, including the North & South Poles (Courtesy: Lee Abbamonte)

new study by Allianz predicted Americans will spend over $100 billion on summer vacations this year — with travelers expected to shell out a record $2,037, on average.

Abbamonte, who teamed up with Bank of America (BAC) to help travelers spend less and maximize rewards points, said layering a wide variety of loyalty programs can assist in slashing travel costs.

“I get two points for every dollar spent on travel and dining, and if I pair that with being a Bank of America Preferred Rewards member I can earn up to three point five points per dollar spent on travel and dining,” he explained.

“You’re earning maximum amount of points on things you’re going to be doing anyway,” he continued.

Some other helpful travel tips include frequenting travel blogs, learning key words in the native tongue and carrying credit cards with no foreign transaction fees, Abbamonte added.

Alexandra Canal is a Producer at Yahoo Finance. Follow her on Twitter:

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