Tags: bankrate | survey | americans | cannot | afford | vacation

Americans Say They Can't Afford A Vacation

Americans Say They Can't Afford A Vacation
(AP)

Wednesday, 14 August 2019 03:15 PM

Americans, crippled by debt and seeing signs of a slowing economy, are sitting out on pricey vacations and everyday leisure activities.

A new Bankrate survey found 42% of Americans decided not to take a vacation over the past year because of the cost. Nearly a third said they can afford a vacation less now than they could have five years ago, though 26% said they can afford to do so more now. More than two-thirds of U.S. adults opted out of a recreational activity due to the cost at some point in the past year, the study found.

You can’t blame them. Trade tensions have economists projecting the likelihood of a recession in the next 12 months at 35%. U.S. student debt is over $1.5 trillion. Almost 40% of Americans think the economy is “not so good” or “poor.”

Half of respondents said the activities they passed on were too expensive to begin with or not a good value, while 43% said they didn’t have enough money left over after paying everyday bills and 41% said they wanted to save money for other things.

Parents missed out most of all. More than three-quarters of those with kids under the age of 18 reported missing out on activities, versus 66% of non-parents.

The survey encompassed over 2,500 American adults online in July with figures weighted to be representative of all U.S. adults.

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Americans, crippled by debt and seeing signs of a slowing economy, are sitting out on pricey vacations and everyday leisure activities.A new Bankrate survey found 42% of Americans decided not to take a vacation over the past year because of the cost. Nearly a third said...
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2019-15-14
Wednesday, 14 August 2019 03:15 PM
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