Banff on a Budget - How to Visit Banff without Breaking the Bank

If you asked friends or family to describe me in a few words, I’m sure one of them would be frugal. When it comes to travel, I’m not much different. I recognize that there are experiences worth a splurge, but I love a good deal and I’m sure you do too!

I'll be the first one to admit - Banff is expensive! It's a bucket list destination for so many people, and it definitely comes with a high price tag. While there are some costs that are hard to avoid, I'm here to help you decide which costs are worth it, which aren't, and how you can enjoy your trip without breaking the bank.

The good news? Most of our beautiful attractions are entirely free.

Initial Money-Saving Tips

1. Travel During Off-Season

   This seems obvious, but you’ll be surprised at how much you can save by avoiding peak months. June-September are the busiest and most expensive, with hotels sometimes charging more than six times their off season rates. 

   BAA Tip: If you want to be able to see the stunning blue lakes, including Moraine Lake, while snagging off season prices, book in the first two weeks of October. Moraine Lake is open until Oct 12th, the lakes won’t be frozen yet and you’ll get to experience our beautiful fall colours.

2. Set your priorities

   Decide what your non-negotiables are. If you’re a foodie, plan to spend extra money at local restaurants. If you don’t want to drive far every day, plan to spend extra to stay closer to town. If you value learning about the history and getting local advice, maybe a tour is worth it for you! Know yourself and your group because sometimes it’s not worth saving a few extra bucks at the expense of your enjoyment.

How to Save on Accomodation

This ends up being where most visitors spend all of their budget! Depending on your comfort level and willingness to drive, there are a few ways to lower this cost.

Option 1: Stay Outside of Banff Town

The town of Banff is often the most expensive option for hotels. A 5-night stay for a family of 4 averages around $4,500CAD. Here are some other options for places to stay, costs for a similar time frame & driving distances to Banff Town and Lake Louise.

1. Canmore - another small mountain town with gorgeous views and lots of amenities. Average cost $3500CAD. 15 minutes from Banff, 1h from Lake Louise

2. Cochrane - a bigger town on the outskirts of the mountains. Average cost $2000. 1h from Banff, 1h 45min from Lake Louise

3. Calgary - the biggest city in the area and likely where you flew into! Average cost $1200. 1h 15min from Banff, 2h from Lake Louise

Both Cochrane and Calgary are great options for a large group. The drive is beautiful, but can be tiring after a long day of exploring the park.

BAA Tip: Stay in Golden, BC. It’s a quieter mountain town that still has access to restaurants and other attractions. While it’s far (1h30min) from Banff town, it’s an equal distance to sites like Lake Louise, Moraine Lake, Peyto Lake and Columbia Icefield. Bonus - it’s even closer to Yoho NP! A 5 night accommodation averages $2000 and it’s only 1h from Lake Louise.

Option 2: Give up typical comforts

At the end of the day, a hotel doesn't need to be more than a place you sleep. While there are incredible hotels in the area, you will spend most of your time outside - hiking, walking, swimming, dining out, etc! All of the hotels will provide your basic needs and if you don't need the fanicest hotel, you might as well take the budget option.

Option 3: Camping

Remember what I said about comfort? If you're up for an adventure, I'd highly recommend camping for your accommodation!

Camping in Banff is 25% off for the summer and campsites range from $20-40 a night. A 5-night stay at Tunnel Mountain Campground is $199 and includes firewood.

If you can bring your own camping gear, you'll be set! If not, you could consider purchasing a tent, air mattress, sleeping bags and other gear. Doing the

math, it would be around $700CAD, making the total to camp for 5 nights under $1000. At the end of your trip, you could donate your camping supplies, post them on a local facebook group or sell them at Switching Gear.

Baa Tip: Consider a Camper Van or RV Rental! This saves money by combining your rental car and accomodation into one. A 4-person camper van will be around $1700CAD for 5 nights, and an RV is around $2000CAD.

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How to Save Money on Food

There really is something for every budget in Banff! Unless you're into fine dining, you don't need to spend all your money to enjoy our food scene.

Option 1: Cook for yourself

If you have an airbnb or kitchenette, making meals for yourself is a great way to save money, especially for a family. If you’re in a hotel with a microwave, there are lots of ways you can skip at least one meal eating out! 

Some ideas for breakfasts, lunches & snacks: fresh fruit, vegetables, hummus, crackers, microwave popcorn, pastries, sandwiches (ex. Pb & j), protein shakes, etc.

BAA Tip: Pack a Picnic! When visiting Moraine, Lake Louise, Yoho, Icefields Parkway, etc., options are limited and very much overpriced! Think of paying $15 for a croissant. By packing snacks, you’ll be able to make it between meals without blowing the budget.

Option 2: Grab an Affordable Lunch

We understand not wanting to cook while on vacation. There are some amazing places that aren't too expensive!

1. Grocery Stores - most stores in Banff and Canmore offer delis with premade sandwiches and other grab and go or hot food.

2. Sandwich Shops - our favourite grab and go is Rusticana in Canmore. They offer sandwiches for under $10 and other affordable soups, salads and pastries. In Banff, try Bear Bistro.

3. Happy Hours - most restaurants in Banff offer happy hours for food and drinks. Check out Taxi Mike’s Banff Happy Hour guide for up to date deals! In Canmore, I highly recommend Bridgette Bar from 2-5 for 50% off pizza and drinks.

   
   

BAA Tip - Flip your schedule! Eat out during happy hour and use your evening to do more exploring. The sun sets around 10:30pm in summer, so there is lots of time to fit in another activity. While most people are lined up for restaurants around 7pm, you’ll be able to enjoy a much smaller crowd AND have a discounted restaurant meal. 

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How to Save Money on Attractions

We’re lucky, most of our best attractions are free. Check out this blog post on Free Things to do in Banff.

You can spend days hiking, driving and exploring in the mountains. While some lakes have paid access, our favourite free lakes include Emerald Lake, Takakkaw Falls, Peyto Lake, Bow Lake, Lake Minnewanka and Two Jack Lake. In future blogs, we’ll break down our favourite hikes too. For now, here’s what we think of paid attractions and if they’re worth it. I just want to note: these are simply my opinions! If you want to try one of these activities or you love it, then that is great too.

Moraine Lake & Lake Louise

YES

Price for a family of 4: $50-500

There are many ways to visit Moraine Lake and Lake Louise, with varying difficulty levels and budget. Moraine Lake is not open to public vehicles, so you can’t drive yourself. Lake Louise is open, with parking filling up quickly in the morning and costing $40/car.

The most affordable option is the Parks Canada shuttle. While getting tickets can be as difficult as concert tickets, this is the only way to visit Moraine Lake for under $100. 

Other options:

Private Tours: Tours like ours are a more convenient but less budget-friendly way to visit Moraine Lake and Lake Louise. If you’re looking for one area to splurge, taking a private tour is worth it to skip the headaches of ticket queues, driving yourself and finding parking. Look for tours that include extras, such as hot beverages, snacks and blankets! 

Bonus - most tour companies allow you to store your bags in the car, and often bring a cooler on board. You can save some money by packing a lunch and not having to carry it around with you all day! 

Banff Hot Springs

SKIP Price for family of 4: $74 ($19.75/adults, $17.25/youth)

Why I think this: While the Banff Hot Springs is a cool part of the Park's History, it is very crowded and is essentially a giant hottub. We recommend using the hottub at your hotel instead. If a natural hot spring is important to you, head into British Columbia!

Banff Gondola

SKIP - with a better option in mind

Price for family of 4: $309.12 CAD ($88/adult, $57.20/child)

My opinion: There is no denying that the views from the gondola are incredible. However, if you are physically able to hike up a mountain, we recommend that instead. You will be rewarded with similar views and much less of a crowd.

If you really want to experience a gondola, I recommend the Sunshine Village Gondola instead. This locally owned gondola brings you far into a backcountry valley where you are surrounded by mountains. There is a viewing deck for those who don’t hike, and a beautiful 1-2 hour trail for those who do. In late July, you will be fully surrounded by wildflowers!

Cost for a family of 4:  $180 (Family rate for 2 adults, 2 kids)

BAA Tip: Mt. Norquay Lookout. If you aren’t much of a hiker but still want a low-cost birds-eye view, head to Mt. Norquay Lookout. Only 15 minutes from the town of Banff, you’ll have a panoramic view of the town and surrounding mountains. Park, walk behind the garbage cans and enjoy the sunset from one of our favourite spots. You might even see some Big Horn Sheep up here! 

Icefields Parkway

YES YES YES

The Icefields Parkway is a full-day, once in a lifetime drive. There are numerous free stops for lookouts, viewpoints, waterfalls and more.  You'll visit free sites like Peyto Lake and Bow Lake, some of the most beautiful lakes in Banff.

What about the Columbia Icefield Explorer/Skywalk? SKIP

Price for a family of 4: $250 (kids go free promotion)

My opinion: the Athabasca Glacier is a stunning piece of history and it’s worth driving there to see it. I recommend doing the free walk as close as you can to the glacier instead of the tour onto it. The tour itself takes around 3 hours, and we find your time would be better spent in other places, such as hiking Mistaya Canyon. Remember, this is a budget guide! You can experience similar views to the Skywalk without having to pay for access.

If walking on the glacier is on your bucket list, consider booking with IceWalks, a family-run business offering smaller tours that bring you right onto the glacier.

BAA Tip: Hike Wilcox Pass to experience breathtaking views over the Athabasca Glacier and surrounding peaks. You'll experience some of the tallest mountains in the rockies!

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There it is - BAA tips for saving money on accommodation, food and attractions. For a full list of free Banff attractions, head here: Free Things to do in Banff

Did I miss anything? Let me know in the comments if you want advice on other aspects of visiting Banff!