6 Ways to Save Money in Banff National Park

If you’re looking for a budget-friendly vacation, Banff unfortunately is not it. It’s the most visited National Park in Canada so accommodations, food, and parking will all cost you a pretty looney (which is what Canadians call the $1 coin!). However, there are plenty of ways to cut costs and save your bottom line from getting out of control. Here are 6 ways to save money in Banff!

Travel in the Shoulder Season

One of the easiest way to cut costs is to travel outside of peak tourism season. Banff booms in the summer, and even the winter has a good deal of tourists who flock to the mountains for snow activities. Traveling to Banff in the spring and fall “shoulder” seasons is the easiest way to save on accommodations, car rentals, and tickets. The spring shoulder season is May and June, and in the fall it is September and October.

There are some tradeoffs for traveling during this time, but it’s also the best time to save money in Banff.

Eat Out One Meal/Day

While on my travels, this is a rule I try to apply to every trip. This is especially true in expensive destinations, and Banff is no exception! Everything, including food, is pricy here. Try to eat out only one large meal per day and it will really help to cut down your expenses. Take advantage if your hotel offers free breakfast, or grab something small like a granola bar or banana. This usually held me over until the early afternoon where I would sit down for my bigger meal in between lunch and dinner. As an added bonus, you can take advantage of lunch menu pricing at this time, too! This larger meal would hold me over almost all day. If I needed to, I’d just grab a snack later in the evening.

The towns of Banff and Canmore have a ton of restaurants, but options in Lake Louise are very limited. If my college economics class taught me anything, I know this creates supply and demand. Thus, the restaurant prices were sky high in Lake Louise. This all adds up very fast if you’re eating out 3 meals a day!

Free Parking

For the most part, parking in designated lots throughout the national park are free to the public. Once you’re in the town of Banff or at other top tourist locations such as Lake Louise, there is a fee to park. Keep in mind that this fee is in addition to the park entrance fee.

At Lake Louise, you are required to pay for parking between 7 am and 7 pm. When you think about it, the free times are actually the better times to visit! In the summer, the sun rises and sets well outside of these hours. That gives you plenty of time to explore and enjoy the lake without the daytime crowds. So long as you don’t mind sacrificing a few hours of sleep, it’s an easy way to take in the spectacular views for free! You will, however, need a valid Parks Canada pass visible on your car (which applies to everywhere within Banff National Park).

The town of Banff has plenty of public parking lots, but they are all metered. I tried to park in one for just a few minutes while I quickly ran into a store, and was welcomed back with a parking ticket on my windshield. Officers are constantly policing the lots so if you do choose to park there, make sure to pay at the meter. If you want to park for free, there is free parking at the train station in town. It’s located just outside the Banff Visitors Center. It’s about a 10 minute walk from the lot to the center of town, but there is also a free shuttle that runs throughout the day. If you’re not paying attention, it’s easy to miss this lot – I did!

Renting a Canoe

If you’ve looked up pictures of the Banff lakes, chances are you’ve seen shots of people canoeing on the lakes. It’s iconic, but can also be incredibly expensive. Lake Louise and Moraine Lake will run you $125 and $115 per hour, respectively. That’s a lot of cash for very little time!

Instead, make your way about 30 minutes west of Lake Louise to Emerald Lake in Yoho National Park. Here, you can rent canoes for $70/hour and get similar mountain lake views. The water here isn’t the same bright milky blue as at Lake Louise and Moraine Lake, but (as the name would suggest), it’s more of a teal-green color. I loved Emerald Lake because it had it’s own unique character and was far less trafficked than the other two lakes.

Buy Tickets in Advance

Buying tickets in advance is one of the easiest ways to save money in Banff! During my planning, I looked up how much certain attractions like the Banff Gondola or the Golden Skybridge would cost. I was content with the prices and figured I’d just buy them day-of so I could keep my plans a bit more fluid.

Don’t do that! I was floored when the price for the gondola was $70 at the door, and only $48 on the website a few days prior. Ouch! I asked the ticket agent if they’d match the rate I saw and she said that was for advance purchases only. Such a silly way to lose $22! The Golden Skybridge was only about $10 more at the door, which is a little easier to stomach. I still was angry that I unnecessarily overpaid twice!

Take Advantage of Free Activities

The best part about nature? It’s free! Take advantage of all the trails that Banff National Park has to offer by either going for a hike or bike ride. They have hikes for all levels from beginner (like me) to expert. I was able to find a few short, flat hikes (which were actually more like walks) that were perfect for me. Driving to scenic viewpoints is also one of my favorite activities, and there is no shortage of those in Banff along the Trans-Canada Highway and Bow Valley Parkway!

During my stay at the Lake Louise Inn, they also offered complimentary bike rentals. You could rent them for as long as you wanted and ride into town or along the roads. Banff was a very bike-friendly area and cyclists are well protected here!

Traveling soon? Check out my Travel Tips page to help you score good deals on flights, packing tips, tools to help you plan, and more!