One-Quarter of Americans to Ditch Summer Vacations

A recent study by Bankrate.com found that 26% of Americans are foregoing their summer vacation plans for this year, with an additional 22% still debating the decision to skip their summer vacation or not. The survey gathered information from 2,500 respondents across the country and found these to be the most popular reasons why Americans plan to forgo the vacation this year:

  • Can’t afford it—60%

  • Family obligations—13%

  • Health/age—15%

  • Can’t take time off work—9%

  • Vacationing another time—6%

For those citing affordability, 44% attributed this to day-to-day bills while another 22% attributed it to debt. Bankrate discovered that 29% of American households have more credit card debt than they do savings, and 40% of Americans have less than $1,000 in savings. These problems are more pressing for younger generations, while only 20% of the baby boomer generation claim to deal with this problem. (Fox Business, 04.26.19)