How Americans Are Paying For Vacation

More than one-third of summer vacationers say they are willing to take on debt to pay for travel this season, according to a March 2024 report from Bankrate. The average vacation for one person in the U.S. costs nearly $2,000 per week, according to BudgetYourTrip.com. An analysis by Forbes Advisors found that 28% of Americans across all generations say they have less than $1,000 in personal savings as of May 2024. Watch the video above to learn about those vacation-spending practices and what financial experts think about them.

Chapters:
0:00 Introduction
1:16 Credit card debt
3:12 Taking out a loan
4:58 Economic consequences
6:54 Fun on a budget

Produced by: Charlotte Morabito
Edited by: Dain Evans
Animation: Jason Reginato
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images

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How Americans Are Paying For Vacation