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Saving Summer Brunch Money Leads to Weekend Getaways

Saving Summer Brunch Money Leads to Weekend Getaways

By Friday, 20 July 2018 04:48 PM Current | Bio | Archive

Forget biscuits, pancakes, bacon and mimosa drinks on Sunday mornings. Dream on instead because sleeping in on the weekends can lead to a fully funded short vacation.

HomeAway’sBrunch Index helps potential travelers determine just how many dinners out they have to skip to go on a vacation.

The index compares the average cost of brunch ($34) to the average per person cost of renting a vacation home for a 2-night stay in various destinations.

For example, a weekend trip to San Diego or the Hamptons would require skipping four brunches, which costs about $121 and $217 respectively.

A two-day trip to the Poconos and Breckenridge, Colorado would require saying “no” to two brunches, which amounts to $70 and $71 person.

Some 93 percent of millennials would skip out on brunch if it meant they could vacation with friends, according to HomeAway, and 72 percent are planning to go on a trip with friends in the next 12 months.

The austerity of skipping lunch out would be worth it, says Richard Gonzalez, who feels left behind when his friends post photos of their vacations on Instagram, Snapchat and other social media sites.

“I’d like to travel but I don’t have enough money so when I see friends on Facebook dancing at music or film festivals, I feel a little jealous.”

The 30-year-old production assistant is among the 55% of millennials who report experiencing Fear of Missing Out (FOMO), according to a study released by Allianz Life Insurance Company of North America.

“Millennials are finding innovative ways to build their financial strength and are becoming more confident because of these actions,” said Paul Kelash, vice president of Consumer Insights for Allianz Life. “But, more than any other generation, social media and the allure to spend beyond their means could have long-term negative effects on their finances if they’re not careful.”

Some 57% of millennials say they spend money they hadn’t planned because of what they see on their social media feeds.

Instead, recognize and admit that the urge to spent may be merely the onset of FOMO, according to Joel Barcalow, a psychiatric counselor at Ohio State University Wexner Medical Center.

“Take an honest look at your behaviors and emotions to determine if they are consistent with FOMO,” Barcalow said “It can be helpful to realize that you're not the only one who struggles with this issue.”

Self-Diagnosing FOMO on Social Media

  • You cannot accept that things are going to happen without you.
  • You have too many options and not enough time or resources to do them all.
  • Constantly accessing social media.
  • Refusing to turn off your smart phone while dining out or visiting with family or friends.
  • Constant multitasking.

Juliette Fairley is an author, lecturer and TV host based in New York.

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Saving Summer Brunch Money Leads to Weekend Getaway
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Friday, 20 July 2018 04:48 PM
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