Back in April I took a trip from San Diego, California to Playa Del Carmen in Mexico. The trip was phenomenal and the coastline and beaches of Playa del Carmen are gorgeous. I would highly recommend it. The problem is, according to financial research, most American vacations result in debt.
The Average American Vacation Ends In Debt
Playa Del Carmen was absolutely stunning. The waters of the Mexican coastline along the Yucatan are lined with turquoise colored water, bright white sand beaches, and tropical breezes. I saved for my vacation so I had nothing to worry about. Yet, a study by LearnVest conducted a voluntary survey about their financial habits.
According to the study, the average person’s debt for a trip totaled $1,108 dollars.
Also in the survey, 32% of participants said that saving money for vacations is a priority. Yet, less than half of them are able to do so.
Now there is one issue I have with this study, it only included one thousand people. That’ a very small sample size for the population of this country. But given the debt crisis that this country is in, it’s not surprising that something like a vacation will add to a person’s debt.
Travel Is Can Lead To A Lot Of Debt
As evidenced by this study, travel can lead to a lot of debt if you’re not careful. I myself have added to my debt over paying for traveling expenses because of some poor saving habits.
The Saddest Part Of This Survey:
Thirty-two percent of participants said that saving for vacations were a top priority yet only seven percent of those who took the survey said saving for retirement was a top priority.
Has anyone here added to their debt by their travel purchases? What are some ways that you save for traveling expenses so you don’t incur debt?
Liu, J. “Most Americans Go Into Debt to Pay For Vacations – But You Don’t Have To.” Learnvest. 22 June 2017. Web. 9 July 2017.