How Americans Are Paying For Vacation

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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

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1 июл 2024

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Комментарии : 1,3 тыс.

@dwoolf7019 2 дня назад

The credit card debt can last longer than the memories of the trip.

@1Nynja 2 дня назад

The debt will help them remember.

@maestrovso 2 дня назад

Best comment of this video. Sadly it is too true to be funny.

@IbrahimMohamud-zf6xm 2 дня назад

😂@@1Nynja

@robertgworek2497 2 дня назад

Debt can destroy the whole family. With debt stress and tensions come.

@shaunmc013 2 дня назад

lol 😂 yeah but life is all about memories and sometimes you have to fund those memories. But I definitely wouldn’t do it lol 😅

@yeah_right88 2 дня назад

Never in my life would I go into debt for vacation

@KNRS927 2 дня назад

People go into debt for all sorts of things. Vacations, time sharing, weddings, you name it. They follow YOLO, and just want to enjoy life. I'm not that extreme, but I do get where these folks would be coming from.

@macmiller1678 2 дня назад

@@KNRS927yeah I think social media and “fomo” leads people to make a lot of stupid decisions

@justSTUMBLEDupon 2 дня назад

Most do, definitely in 2023 and more so now.

@KNRS927 2 дня назад

@@macmiller1678 Some folks just have different priorities. Not everyone prioritizes retirement, planning for the future and FIRE as some others do. I prioritize tangible items or assets that I intend to keep for a long time, but others prioritize experiences and what not.

@dquan731 2 дня назад

It’s absolutely insane to use credit cards with 20%+ interest. You think your life sucks now, you’ll have a fun time paying off your high interest debts.

@markthompson1796 2 дня назад

If you can't pay cash, you can't afford it.

@liko098 2 дня назад

Amen.

@breannajones2161 2 дня назад

🗣️

@isaiahdurenrealestate 2 дня назад

💯

@JomerTB 2 дня назад

A better rule is if you can't pay for it twice over, you can't afford it.

@Friedrich687 2 дня назад

Normies when you tell them to control their impulses:

@jeffcmo1957 2 дня назад

Couple things here 1. Vacations are Luxury not mandatory 2. Taking Time off from work is necessary and extremely beneficial but not if it cost you and makes you going into debt 3. Staycations are highly underrated, don’t travel but take time to enjoy the place you live.

@mocheen4837 2 дня назад

People think they are entitled to a luxurious vacation. My coworkers take lavish vacations spending $10,000-15,000 each trip. This does not include the shopping while on vacation.

@diegolara4202 2 дня назад

Staycations are my favorite. Free, and you just relax. Some vacations are more overwhelming than fun.

@dquan731 2 дня назад

Yup. I’ve lived in my area for all of my life and I feel I’ve only scratched the surface of all the things I could be doing right here at home. It’s interesting people never try to plan a staycation and explore their hometown more. I’m guilty of that myself.

@nishaplustwo 2 дня назад

My family is doing a staycation this year, and my children are just as excited

@sp3357 2 дня назад

@@diegolara4202 you know what you are exactly right I was gonna to New Orleans for a little vacation getaway but hearing stories and all of that I rather stay at home and save my money ❤

@liko098 2 дня назад

People that go to vacation with a loan are the prime example of morons. Vacation is a luxury not a neccesity.

@mikea5745 2 дня назад

Really depends on your financial situation. I can take a loan against my 401k at 4% interest that I pay to myself. If I can take a 12-month, $4,000 loan @4%, against my 401k for a vacation, it would be financially irresponsible not to do it. I would be getting stock market gains for the money I didn't spend over those 12 months, in addition to effectively paying nothing for the loan (since I'll get the money back at retirement)

@rahundsigma 2 дня назад

@@mikea5745quit yapping. Debt for vacation is dumb af

@jordane813 2 дня назад

Time off is a necessity, I agree that expensive vacation aren't though

@IAmEric85 2 дня назад

@@jordane813 but that's not what liko098 wrote... taking on debt for vacation is financially unwise and frankly stupid. Cause you will end up spending more of your limited lifetime to pay teh debt off.

@Lawliet734 2 дня назад

@liko "...luxury not a neccesity [necessity]." Correct spelling and grammar are a necessity, not luxury.

@Mr.Boring_Man 2 дня назад

Americans have another option... wait and save. Also, live below your means so it's easier to wait, save and pay.

@longbeach225 2 дня назад

With this level of inflation people really can't save anything. Some jobs are now lower paying to make it worse. Its overall a bad situation.

@bilo6832 2 дня назад

Agree, and stop comparing yourself to people on social media. Most of those people are broke.

@mistervo8185 2 дня назад

@@longbeach225but still, people don't need to make the situation worse by going into more debt for something they don't need to do.

@leealex24 2 дня назад

I thought americans have very high nw

@shawnlassiter5274 2 дня назад

I couldn't agree more, people don't have patience anymore. Wait and save so you don't have to worry

@ewrock7635 2 дня назад

I do a "staycation" every time I get a week off of work. I have a modest salary and yet I'm able to max out my Roth IRA every year due to my simple lifestyle. Go hiking, go to your local zoo, or just catch up on reading. Plenty of affordable ways to enjoy time off.

@skeetrix5577 2 дня назад

one word-BORING rofl

@beepboopbeepp 2 дня назад

@@skeetrix5577 if he enjoys it it’s not boring if you wanna go broke to have a little fun thats your choice this guy would rather chill and save.

@PelosiStockPortfolio 2 дня назад

@@skeetrix5577 you sound like every woman Ive ever known

@felixpope6073 2 дня назад

We deserve to see more than our local zoo

@momomama2510 2 дня назад

That’s no way of living. Sorry! America should be considered a 3rd world country in 2024z

@containedhurricane 2 дня назад

Borrowing money for vacation is stupid

@nata3467 2 дня назад

go camping , not Disney- teach your kids responsible use of money and consumption

@SivalinPuthery День назад

Tell that to the US government and its trillion dollar debt binging program

@containedhurricane День назад

@@SivalinPuthery The US government borrowed a lot of money because they could just print it out without being backed by gold, to fund the US' world domination projects

@bicgohill8756 День назад

“Don’t be a dumb butt” Dave Ramsey.

@rg7729 День назад

I was literally gonna post taking a trip to disney is stupid @nata3467

@kk4649k 2 дня назад

Social media got to be one of the biggest contributors. People want to look rich and impress people online that can careless about them than to actually be rich by saving and investing

@jesse2576 2 дня назад

When you go on vacation and have no debt the vacation hits different more enjoyable not worrying about debt

@martinezjames83 17 часов назад

Just not everyone is willing to wait a few years

@bonky221 2 дня назад

I plan my vacation 6 months in advance and go during non peak season. You'll save up to 50%.

@HighPriestessK 2 дня назад

👍🏿! Yes! I do too.

@erickn7985 2 дня назад

Facts I purchased my plane ticket to Barcelona in December for my trip next week. Roundtrip economy ticket from the Midwest to Barcelona, Spain $496.

@tayjones8552 2 дня назад

Exactly, some people don't plan right.

@scottysteadman5063 2 дня назад

💯

@Basquesi68 2 дня назад

Exactly what we do

@fieryelf 2 дня назад

If you can't afford the trip now, you most definitely can't afford to pay your credit card afterwards.

@zacquelinebaldwin2555 2 дня назад

This is where budgeting and fiscal responsibility is very important. This is literally what my partner and I did. The credit card is the travel budget. We spent 4,000$. We pay it off 300$ a month. We can afford it so no big deal. We’ll take another vacation in two years. This is the “good debt” they talked about that boosts your credit score, if you have discipline and self control

@tylerhair9067 2 дня назад

@@zacquelinebaldwin2555lol! Good debt 😅😂

@nicholasselke5214 2 дня назад

@zacquelinebaldwin2555 you just fell for the FICO scam. It’s cyclical. I have to go into debt, so I can build my credit, so I can go into debt, so I can build my credit, so I can go into debt, basically it’s a dog chasing it’s tail Also, it’s NEVER fiscally responsible to borrow money (yes, credit cards are borrowed money) for anything that is not a necessity. If you’re paying monthly on a credit card because you used it for a vacation, you shouldn’t have gone on that vacation. That would’ve been the fiscally responsible thing to do There is no such thing as good debt. Some debt is worse than others, but no debt is the only good debt

@Olav3D День назад

@@zacquelinebaldwin2555 20%+ interest is not good debt lmao. Good debt is for assets, a trip is not an asset. Keep rationalizing bad choices...

@keybraker 2 дня назад

That woman talking about how important a Disney land trip is and how worth, it is to go into debt for it, sure is on the creditors pay roll.

@orichinal. 2 дня назад

If I can’t afford it, I simply do not go. Self control.

@tuphdc8779 2 дня назад

I can afford it but it's still a waste of time and money lol 😂

@orichinal. 2 дня назад

lol I hear ya! 😂

@zacquelinebaldwin2555 2 дня назад

THEY ARE NOT STUPID. This is where budgeting and fiscal responsibility is very important. This is literally what my partner and I did. The credit card is the travel budget. We spent 4,000$. We pay it off 300$ a month. We can afford it so no big deal. We’ll take another vacation in two years. This is the “good debt” they talked about that boosts your credit score, if you have discipline and self control

@ramstrong1961 2 дня назад

2008 is long forgotten...Americans are about to get a reminder.

@rjb 2 дня назад

...and this time it will be wider spread.

@TravelTechie415 2 дня назад

I hope so, but I think this time around things will continue getting more expensive

@thorsrensen3162 8 часов назад

I will rather buy an american built RV and travel around in USA than going to europa every year.

@craigemmett2425 2 дня назад

Lifelong memories: I remember my dad taking me camping and teaching me to fish.

@lil----lil 2 дня назад

Your dad paid the vacation from his savings (just ask him). 100% he didn't take out a loan for it.

@jorgeayala6310 2 дня назад

Boring as #$##

@VendieSolde День назад

@@jorgeayala6310 Like ya mammy

@thorsrensen3162 8 часов назад

Today kids have to go to vacation, otherwise they will not have anything to tell in their school to the other kids. The teachers always ask the kids after the summer where they has been staying in the summer holliday,

@callieco_ 2 дня назад

I just hear Caleb Hammer screaming "You can't AFFORD a vacation!!!!!!!"

@George_consol_log 2 дня назад

I can't believe people needed an analyst to tell them to save money and then go on a trip. Isn't that common sense.

@christophermarin8033 День назад

Common sense it’s not so common nowadays.

@randomguy7175 17 часов назад

The Democrats have taken over education system, dumbness is the new normal 😅

@Bob-yh7ir 16 часов назад

Not in America. Too many people have their heads stuck in the sand ( or up you know where ) to accept reality.

@2MANYCARS 2 дня назад

Yup, I use credit card for many things including vacations, BUT, I clear those charges out every month, bank sees me as "dead meat" and I love it! hahahaha

@HighlordFrancis 2 дня назад

Points baby!!!

@doujinflip День назад

For interest charges anyway. They still have your spending habits and all the transaction fees that the merchant usually pays for.

@hsingholee1058 23 часа назад

And getting 2% back while doing it, nice.

@djm2189 4 часа назад

@@doujinflip yeah but that happens with everything digital minus cash. There's a point where fckck it you can have it. It's not an issue if you have any self control lol

@djm2189 4 часа назад

Yup. I've been using my Credit card like a debit card. Accumulated $2k in points over 2.5 years.

@user-xo4xd1vk8z 2 дня назад

No money = No spending. Y’all don’t need a Ph.D. to figured this out. Lifelong memories, I remember I grew up poor and nothing wrong with it. I still have peace and happiness.

@djm2189 4 часа назад

Same grew up poor. I find happiness in such little things. I'm now 29, earn $120k, no debt and $150k in net worth. I'll splurge on a modest cruise or other things but I can also drive 1hr to the mountains and just find peace and amazement at the night sky. Being able to appreciate everything while also appreciating the very exotic trips fulfills lives.

@chessmaster1115 2 дня назад

Rice and beans for me staying home because i am too broke for a vacation.

@cutenobi 2 дня назад

You’re smart. American’s using loans for vacations are lot more broke than you…they’ll continue to stay broke by doing so.

@skyak4493 2 дня назад

Spluge and put some sausage in the beans. It really makes the meal. If you want to do even better and cheap, my favorite is black beans with taco seasoning (chili powder) a breakfast sausage, and some foraged stinging nettles and garlic mustard! With freash chips this will beat 20% of vacation meals.

@abdiganiaden 2 дня назад

You’ll get old and wonder what you did with your young and productive life

@SeiyaSoiya-un4jj 2 дня назад

@@abdiganiaden Nope. He’ll get older and have financial freedom because he sacrificed a little now for enhanced gratification later. Foreign concept to young Americans, I know.

@sp3357 2 дня назад

@@SeiyaSoiya-un4jj❤ yep

@Diverse0725 2 дня назад

The irony of having to work EXTRA hours to pay for time off is insane....

@1stTnetix 2 дня назад

UNDERRATED COMMENT!

@bubba842 День назад

So you never take time off work?? That's pretty sad.

@Diverse0725 День назад

@@bubba842 I take time off work. The video is about people going into debt to take time off work. That I will never do. If I can't pay for vacation, I will spend my days off at home. If I want to take a vacation, I will save up for one, not use a credit card.

@jeanah685 2 дня назад

That's exactly the type of priority problems that keep people poor.

@patrickking9600 2 дня назад

The worst thing is that our constant borrowing really just drives the cost of everything up even more.

@jstar3943 2 дня назад

100% Inflation is sticky largely because people are comfortable spending more. Folks will say they don’t like inflation, but then go into debt for vacations anyway lol

@mikea5745 2 дня назад

That's by design. Our economy is intentionally designed to have higher than necessary inflation. When consumers are spending more money, it increases the profits of large companies. The rich that own companies and stocks profit more with those higher margins

@ricardodelacrvz1400 2 дня назад

isnt it amazing when it crashes for people who actually save money

@SeiyaSoiya-un4jj 2 дня назад

@@mikea5745 Knowing that, you’d like to think people would prioritize savings. But they don’t, because they want instant gratification.

@1stTnetix 2 дня назад

@@SeiyaSoiya-un4jjyou are people don’t forget this when you absolve yourself… what is your flaw, none I presume?

@Restorationshopyt 2 дня назад

Taking out a loan to go on a vacation is INSANE. So is paying credit card interest to pay for it. What on earth are people thinking??

@DamianBadalamenti 2 дня назад

They need those insta or Facebook pictures to look successful or like they live a fantastic life for all those people they actually don't like..

@ledheaded12 2 дня назад

That’s the problem… no thought just want… crazy misstate to be in

@DrBeauHightower 2 дня назад

This @@DamianBadalamenti

@ungluedmom 2 дня назад

They "earned" it.

@Olav3D День назад

@@ungluedmom The funny thing is that did not even earn it considering they are going into debt to pay for it lol

@pmarcusb 2 дня назад

This is why I didn't feel bad when people on social media complain about having no money. They waste money in so many different ways and don't live within their means.

@momomama2510 2 дня назад

That’s just not true. Millions of people don’t have any money to spend.

@SmartDew 2 дня назад

@@momomama2510doesn't change the fact that in general, there is a large proportion of the population that is moronic with their spending.

@momomama2510 2 дня назад

@@SmartDew I don’t think you understand what I’m saying. There is a big difference between when the economy is decent and people go into debt for stupid reasons. And when the economy is very bad and people can’t pay rent. There was and there will always be stu pid people. That’s probably never going to change. But the number of people putting their vacation on their CC has definitely shrunk in % because people use their CC for food now instead and can’t even think of vacationing.

@SmartDew 2 дня назад

@@momomama2510 did you just not watch the video at all? Over a third of people are funding their vacations with debt which is probably the second stupidest financial decision you can make behind "investing" into crypto.

@pmarcusb 2 дня назад

@@momomama2510 majority of people are stupid with money. People that are smart with money are doing well. Using Uber, ordering Uber eats, music and streaming subscriptions, wanting to live alone, have a 30k+ car, be able to go out and enjoy nightlife, plus take vacations doesn't make financial sense if you make the average 40-50k annually. So many people have the, you only live once and tomorrow's not promise mindset. That mindset has consequences.

@joefunk76 2 дня назад

Corporations figured out long ago a simple yet powerful characteristic of most Americans: They are willing to enter into deal that is terrible for themselves and great for the corporation so long as the benefit is received immediately and fully but the detriment can be realized over time. 💀

@summaryjudgment День назад

No kid "dreams of going to Disney World". Parents just want the acknowledgment that they were able to take their kid to Disney.

@kni9ght День назад

Especially not these days

@AquAcid 12 часов назад

Idk I'll never forget the time my family took me to universal when I was a child, generalizing everyone's experience to justify not taking your own kids there is ridiculous.

@appliedengineering4001 11 часов назад

I was gonna say. Disney world today just absolute sucks, compared to what it was just 30 years ago. Today, we go to Pigeon Forge, Tennessee instead. It's 5 times cheaper and less crowded the Disney world. Plus, the kids like it a whole lot better then Disney. When your kids are telling you that Disney sucks, then you know that something is wrong.

@LaTericeallover 2 дня назад

What’s a vacation? You mean the week I stay at home, do chores:repairs and watch several seasons worth TV shows I’ve missed?

@HavocRLJ 2 дня назад

😂😂😂😂😂😂😂😂 that sounds about right!

@ingothitrust5248 День назад

I love Europe, but most of the time, I'd rather stay home, play computer games, and pig out on fast food. That often brings me a lot of peace, more so than any exotic vacation.

@ladhkay 2 дня назад

Am I the only one who doesn't need instant gratification and can wait to save up for my trips and other wants in my life??

@ZakiSalem-zh5gr 2 дня назад

Most people are using credit cards to pay for essentials these days, not just vacations

@darinherrick9224 2 дня назад

Try paying medical debts on a credit card.

@GovmntLacky 2 дня назад

I found this very interesting. I just looked to book a hotel for a vacation recently. For a 3-night stay at an Oceanside hotel, the range was from $2,000 to $2750! And they were almost fully booked!! Just for the hotel!! How are Americans hurting so bad if they can afford this? I make pretty good money and even I said NO WAY!! Insane!!

@MrLakers92 2 дня назад

Well, because they actually cannot afford it.

@liahlove8297 2 дня назад

Same. I have a very good job but I have been checking out islands I wanted to visit and decided I'll do it next year and yes I have a good savings and can afford it. And I know of people I earn more than that have traveled at least twice so far this year. Lol guess we have our priorities straight 😂

@kittymeowski 2 дня назад

Google how many millionaires there are in America.

@nicholasselke5214 2 дня назад

@kittymeowski look up what “millionaire” means. The vast majority of millionaires don’t have anywhere close to a million dollars in their bank accounts. Most tend to be tied up in the value of their homes (which are almost always paid off) and their 401k’s. Usually not much liquid cash except for their emergency funds

@MPPG663 2 дня назад

Why do you assume they're all Americans? And even if they are American, why do you assume they didn't save to afford those rates? People have to stop trying to count other people's money.

@ss-fc2fh 2 дня назад

It is possible to take a vacation and not spend thousands of dollars. Staycation, drive to a neighboring city, etc. These people are ridiculous. If the vacation is not affordable then they are not taking an appropriate vacation. No one is entitled to a vacation they can't afford.

@proudantiguan6897 2 дня назад

Miles sounds fun until you understand you need to spend thousands to get the needed miles

@TheCloveart 2 дня назад

The best way to accumulate value is intro bonuses on multiple cards. I have around $6K in pts and miles and I know others online that have way more.

@JomerTB 2 дня назад

Still worth it though versus spending the thousands you do normally on groceries and everyday expenses throughout the year. Might as well get a free trip out of it at the end of the year with those accumulated points.

@tommyatkinson7312 День назад

True, you should only try accumulating miles if you’re buying stuff on the card that you’d buy anyway AND if you pay it off in full every month. For a large number of people who do not adhere to those guidelines, miles are a total ripoff.

@shawyonsharifi3394 День назад

But u spend thousands anyways so might as well put it on a mileage card.

@ReddingRed 2 дня назад

Buying money at an interest for a vacation is why Americans have no retirement savings. Well done...teach your kids about money by being honest about what you can afford. It will serve them well.

@PelosiStockPortfolio 2 дня назад

People are taking their retirement vacations during their younger years. They will then be forced to keep working during old age. In 50 years we will see many videos about people who cant afford to retire and have to work into their 80's... they probably will put the blame on something else though

@pappadudat 2 дня назад

Noooooooo the reason most Americans have no retirement savings is because the “social security” they take out that THEY don’t have to pay us back, raising cost of food and jobs not paying. I own my own business and I see the hit it’s taking. I rather go on vacation and deal with the problems after instead of dealing with problems now and problems later

@mikea5745 2 дня назад

America incentivizes not saving. Money is practically free here. In many cases it's financially irresponsible NOT to finance things with debt. I could have bought my house in cash, but the interest rates and incentives made the effective mortgage rate just under 4%. I took the mortgage and left my cash in the stock market. Stock returns are double the mortgage payment. By the time my house is paid off I'll have never paid a cent for it, and had far more starting capital than when I started. Terrible system that only advantages those who already have money

@ReddingRed 2 дня назад

@@mikea5745 Just how many Americans can pay cash for a house? Are you claiming that a $735 monthly payment at an average rate of 7.18% and a loan term of 67.62 months is financially RESPONSIBLE?

@user-hm1dm6tf7u 2 дня назад

@@pappadudatuhh government is financing your social security okay. U think we actually pay a Pugh for ss

@Erintii 2 дня назад

For me, as a European, it makes no sense to tale a loan for a holidays. It happens here too, but for me this is absolutely insane to go into debt for a holiday. I will be starting a mortgage soon, no holidays, staycations only, unless my apartment is truly mine. Staycations are cheap way to get to know surroundings, maybe start new hobby or restart old one? The only loans I take into account are mortgages for car, property or to start a new business. Can't afford holidays? Stay at home. Play with kids there are options.

@Siethon1 2 дня назад

It might also be important to note that for a European, you could visit completely different countries, landscapes, and cultures in a relatively short period of time versus Americans for relatively low cost as well. In Europe, you can catch a very cheap flight / high-speed rail for less than 200 euros, stay in a relatively nice hostel for 40 euro a night at the high-end, and use public transportation to get around conveniently. Not to mention the cheap food options, if you stay away from tourist areas. In the US, you may have to pay upwards of 300 dollars for the flight (especially at the right time of day), another 500 dollars (at least) to rent a car for a week (excluding gas), stay in a decent hotel for usually over 80 dollars a night, and eat meals well over 20 dollars a person. As a side note, I was able to rent a car for 3 weeks in Spain for about the same price as a rental car in Atlanta for 3 days! :( Of course there is something to be said about staycations and staying on budget, but in such a broad market, I think the barrier to entry for a holiday in the US is high enough to where more people are willing to go into debt in order to have a vacation for a week once a year in the first place. The "big squeeze" of capitalism here is very real everywhere you go. Sure, there are much cheaper ways to have a vacation, but in terms of overall "experience", the bang for the buck in Europe is much better if you know what you're doing.

@Erintii 2 дня назад

@@Siethon1 I know it is different, I used to live in Canada so I know it is different. However I will still argue, that taking a loan for a holiday is reckless. Travelling is not needed for life and I prefer to stay in my own town and walk around the surroundings for two weeks than have 10 dollars in debt due to travel.

@VeraciusYT 2 дня назад

These days we have an offer, cross the country on train for like 8€. I could visit the Sagrada familia and the Alhambra in the same day for 8 bucks. As much as going abroad can be tempting, I still have so much to see at home.

@Erintii 2 дня назад

@@VeraciusYT I agree 100%. There are many interesting places to see locally, wherever we are living in. It is cheaper, places are less crowded and still can be interesting to see. My dislike for a international travel stated few years ago: crowded and overbooked planes with poor service, over crowded places. Then I learned how this affects local housing market and decided to stop travelling far away.

@unlimitedpower4101 2 дня назад

Mortgages are specifically loans for any liveable spaces. A loan for a car is just a car loan, and I would suggest also never borrowing for that either since cars are a liability and not an asset.

@Diverse0725 2 дня назад

"I can't afford it" the more someone says this, the more responsible they are with their money

@GenerationTech День назад

2000$ a week is the problem, you can easily travel overseas for under $2000 a month

@tpp4007 2 дня назад

Me and my wife plan well in advance for vacation, typically about 6 months or so knowing the summer time will be coming. So we save enough to buy certain aspects like airplanes tickets first when we have enough, then pay for airbnb later when we have enough, then car rentals when we have enough, then so on and so on. I think that’s the best way to plan a vacation is to save well in advance.

@lataviaharris8836 День назад

I do the same thing, and I also catch deals in the off season.

@miamivicefanatic9736 2 дня назад

Residing in a tourist city makes staycations easy.

@trevorross1311 2 дня назад

Just do a staycation, and still watch what u spend.

@marcushennings9513 2 дня назад

Gate off a section of the house and do a Bundy Vacay.

@JBoy340a 2 дня назад

If money is tight that is the way to go.

@gabrieljosue2451 2 дня назад

Debt addiction gives you an illusion of happiness while destroying your life and future. No different than a drug or alcohol addiction but with the added bonus of taking your family with you. People call it lack of financial education but most go into debt knowing very well the damage that it is doing , again…… addiction

@MalevolentBite 2 дня назад

Watching this while on vacation lol 😆

@xiphoid2011 2 дня назад

I'm an Asian American. Almost laughed out loud that some people are willing to go into debt to take a vacation. I mean, I am really tired of hearing people complaining about inflation when we Asian Americans have no problem saving double digit % of pay every month. The same people complaining about inflation are eating out and taking out loans for vacations. Gota love these first world problems, only in America.

@blackmantravel6954 2 дня назад

Asian Americans, on average, make higher incomes than the average American. Which means you have a higher saving rate and higher disposable income.

@wastingtime6211 2 дня назад

Yeah same.. my gf is Asian American but is min wage and literally just took on debt to go on a vacation. I knew I couldn't tell her no but it just sucked to see the hole get dug deeper esp after taking debt last year for a dif vacation and etc. She said I can look at her finances after and maybe I can encourage her to pay off the debt once she sees how it's possible, but yeah it's like when ur at the bottom of the barrel like that they don't see a reason why to care. Hard to break through

@yvonnewong364 2 дня назад

@@blackmantravel6954that’s b/c as an Asian, we pay more emphasis in our education.

@KaioshinAemi 2 дня назад

I’m Asian too, I worked 12 hours a day and 6 or 7 days a for many years. I don’t take vacation unless visiting my family in California. I don’t earn much but I paid off my $350K home, I paid off all my 3 cars. I have and saved enough money to retire early at 55 years of age. Vacation means taking time off work to stay at home relaxing, getting things done, enjoying free beach, playing ball at the park., riding bikes around town for fun. I don’t rental cars, hotels or expensive restaurants.

@duerf5826 2 дня назад

Preach. I contribute to Roth IRA and 401k to their maximum allowable limit every year and still have some leftovers to put into a HYSA while colleagues with comparable salary are constantly broke. Excessive consumerism is built into Americans’ DNA.

@Cballin 2 дня назад

I always put my vacation on my credit card but i also pay that balance off before the end of the month.

@JBoy340a 2 дня назад

That is smart. You got an interest free 30-day loan.

@Cballin 2 дня назад

@@JBoy340a i guess, i only spend what i can pay off, i really only put it through the CC for the rewards

@zacquelinebaldwin2555 2 дня назад

@Danny-cs2hm День назад

Bottom line… don’t put your vacation on a credit card… don’t take a loan to vacation. Forget what people on social media are doing. Social media is not realistic.

@DR-cu2fl 2 дня назад

Going into debt for vacation is crazy.

@MuchachoCarracho 2 дня назад

Love putting expensive trips abroad on Amex. Not only is it a temporary cash management tool, racking those air miles is sweet. Then we pay it all up before interest kicks in and voila. No balance, no instalments. I would never go somewhere I couldn’t pay in cash, but a I’ll milk those rewards if I can.

@pushslice 2 дня назад

Exactly true, but …I’m getting the impression in this video that …not everybody does this?? wtf? Credit card spiffs/rebates are awesome. It’s like a nice bonus discount, that makes the memories just that tiny bit sweeter when you see them roll into your account a couple of weeks after I get back from the travels.

@danielwoolman8969 2 дня назад

I have a 800 score with 100 percent on time payment and most my cards have 29 percent interest rates.

@FloriDUH_JBot 2 дня назад

Pre-2008, that credit would have gotten you a low, fixed single-digit interest rate. Something most would have considered reasonable. Times have certainly changed.

@doujinflip День назад

If you pay off your balance every cycle, it doesn't matter what interest rate they charge.

@dtrain-uwu 2 дня назад

Damn. I won't even take debt to buy taco bell and people are putting on debt for vacations? WTF

@laqueatabrown9916 День назад

LOL true that

@NYCGemini2000 2 дня назад

maxing out credit cards, and not having any savings lol. my friend went on vacation and had no savings when he came back. Also they by flights using buy now pay later methods

@mad2barxhst 2 дня назад

Taking out a mortgage on a home to pay for a vacation trip. There’s gotta be something better than “robbing Peter to pay Paul. Such false economic growth when everything is based on getting into debt and deeper debt.

@HavocRLJ 2 дня назад

I have friends who prioritize going on vacation and travel. They have no savings what so ever living paycheck to paycheck. I just sit back and watch 👀.

@shanishine38 2 дня назад

Make sure to look broke so they don't come to you looking to hold a dollar. @HavocRLJ

@MPPG663 2 дня назад

@@HavocRLJ Sounds like they're having a ball!

@latrinemarine826 День назад

My wife and I have two kids, a mortgage, car payment, student loans, and making close to $150,000. After the bills are paid, there is nothing left over to save up for vacation. But never in my wildest dreams would I ever take out a loan with interest for a vacation. The mindset of living for today is going to wreck a lot of people’s tomorrow.

@mad2barxhst 2 дня назад

Vacation on debt is becoming the norm in the US. The devil is in that credit card.

@Lovelyinspo 2 дня назад

🎯

@KNRS927 2 дня назад

The devil is peer pressure, more than anything. Credit card is just a fuel to that peer pressure.

@DamianBadalamenti 2 дня назад

The comparison networks made keeping up with Jones more important than retirement.

@robert8311 2 дня назад

People being stupid is the problem not necessarily the credit card If you smart and do what you can afford to later do what you wouldn’t want to spend later is up to the consumer not the credit card

@nicholasselke5214 2 дня назад

@robert8311 Dave Ramsey said it best. The credit card is a symptom

@Sherona1111 2 дня назад

I turned 30 this year and in my 20s I was living the highlife. I don't have a lot of debt just 29,000 in Student Loans. But for the next decade, my goal is to be as frugal as possible In all aspects . Especially no vacations, I can't wait to see you what fruits that bear. So happy for the information age🙌🏾

@HavocRLJ 2 дня назад

Kudos to you. You get it. Pay off your debts. Spend a little and save a lot. Having long-term and short-term goals will help you for the rest of your life.

@MPPG663 2 дня назад

@HavocRLJ Assuming you get to live it. Chronic alignments and terminal illnesses are on the rise amongst younger demographics. Much more than in times past... I don't advocate being irresponsible, but this idea that everyone should hustle, grind, and burn the candle at both ends because "you can enjoy things later in life" is slightly unsettling.

@1stTnetix 2 дня назад

Momento morí 😊

@LiamRappaport День назад

Sounds like a crash diet. Don’t push it too far or you may burn out. You need to still have fun while you’re young, it doesn’t have to be expensive. Find good deals, use air miles, stay with friends that live in cool places. I can do a month long trip for $2k.

@tjbellah349 2 дня назад

Take a day trip, go to national park, don’t ruin your finances paying interest on something that isn’t even an asset.

@OnThatNoteWithPenelope 2 дня назад

I don’t know why I like videos that speak about how to manage money but yeah…… I do 😂

@Luxetveritas11 2 дня назад

It’s not hard to save $166/month. Forget financing $2,000 at 20%.

@shwanflake День назад

This segment truly a PRIDE video, 90% of the couples representative of the pride month. The younger generation learned that waiting to have money for a vacation may not happen if it does either the kids are grown up or they are too old to enjoy the vacation. Money you can borrow and earn, but you can not borrow time.

@luckygurl70 День назад

Social media & FOMO is 100% to blame for the insanity of going into debt for the sake of vacation.

@TStark-vj2wo 2 дня назад

One of our favorite vacations was a staycation. Living in the northeast, we decided to hike the highest peaks in each state (MA, NH, ME, VT, RI & CT). It was a week filled with camping, hotels, road trip and some lasting humor as RI mountain was... a bump a few 100 feet of a road.

@wannabe41 2 дня назад

I was fortunate that during the height of the pandemic, my finances were stable. I was working from home and saved a lot of money on gas and other expenses related to going into the office. So I put what I saved into a second savings account and one of the things I would use those savings for would be a vacation.

@selfridgesforever4399 2 дня назад

This year will be my first holiday in 3 years becauae I can finally afford it. Taking our debt to go on holiday doesn't make sense to me.

@darinherrick9224 2 дня назад

I haven't been on a vacation in 7 years because I'm poor and have medical debt. What should I do? Just die without ever going anywhere?

@selfridgesforever4399 День назад

@@darinherrick9224 if you want to go on vacation using debt then go ahead

@jamespn 2 дня назад

If you don’t have the money, stay home, fill a kiddy pool, make a picture of ice tea and read a good book.

@GG89262 2 дня назад

I sold my kidney to go to Disneyland this summer.

@jimv77 2 дня назад

We saved up for two years to go to Honolulu Hawaii for for the first time for 8 nights earlier this month. Total cost for family of four was $7,800. Our budget was probably $9-10k. Our tip to Europe in 2022 was ~$13,000. That took us four years to save up for. We did A LOT of driving vacations to National Parks when the kids were younger.

@rjb 2 дня назад

Did you book your trip to Hawaii through anywhere or do it piece by piece?

@jimv77 2 дня назад

@@rjb Piece by piece. Southwest airlines. AirB&B. Priceline-Hertz.

@rjb 2 дня назад

@@jimv77 thanks. We are looking to go through Costco Travel, they have some pretty decent deals. Just need to decide on one and head on out.

@dissident112 2 дня назад

The problem is because they want people consuming that they will bail out these reckless spenders rather than worrying about the deflation Boogeyman they are always screaming about they don't reward responsible people in this economy.

@jon6309 2 дня назад

I live in Hawaii and vacations are something I don’t really spend money on but would love to do it more often. The last time I went on a trip was around 2018-2019. I visited Seattle and Vancouver, Canada. I am a disciplined saver with no debts so I didn’t have to take out a loan for the trip but it did cost me several thousands of dollars in savings for the experience. I really want to visit Japan since the dollar is so strong compared to the yen right now. I notice for my generation (millennials) many have accumulated too much debt. I have no student loans but I don’t have a high paying job and just save. My sister has a better job than me but she spent a lot of time and money pursuing her post graduate education and is now $150,000 in student debt. Even with this in mind she still spends lavishly on vacations and will fly first class to places. I honestly would just fly economy since it’s just the ride to the destination and would rather spend more money on the experience itself!

@waressecurityconsulting2806 2 дня назад

I went to Disney World as a kid, but as a 34-year-old man I only remember the long bus ride and the fact that we went

@attattatt 2 дня назад

Wife and i did 10 days in spain for under 5k. We did 10 days in mexico for under 3k. These were nice vacations. It can be done "cheaply".

@brockjennings 2 дня назад

It's stressful being at home and pretending to be working. You deserve to splurge and go on vacation!

@mik7652 2 дня назад

All the vacations I’ve been on so far, I paid out of pocket, I would never finance my vacation using debt

@wesleykawakami8563 2 дня назад

You don't need to spend a lot of money on an expensive vacation to have lifelong memories. That's just what the travel industry tries to sell you. The best memories my kids have are going to the petting zoo, parks, beach, etc. They hardly remember the trips to Disneyland.

@TaureanBaby 2 дня назад

And people say that Disneyland is unbearable now. Nothing like the 80s or 90s.

@neilmckay8649 2 дня назад

2 week staycation without Internet would create life long memories and bonding

@Lalo-ik4zg 2 дня назад

I'm 29 now and have never been on vacation. My family grew up poor, so that was never a thought when food and housing were the main focus. I have lasting and warm memories with my family that go as simple as a trip to the park. It's mind-boggling to me how people will splurge 2k or 3k on an experience that is easily forgotten.

@tmsupreme7763 21 час назад

Taking on debt might not always be irresponsible, but going into debt for a vacation definetly is.

@TheAlchemistZero1 2 дня назад

Civilization has entered late-stage capitalism. Capitalism is an insatiable hunger, one which is inherently incapable of expressing the concept of "enough" - it's a system that must chronically engorge (without pause). Poverty is the mother of necessity; the comfort of the rich, depends upon an abundant supply of the poor. the Alchemist -Ø1

@bwofficial1776 2 дня назад

And yet, capitalism is humanity's greatest invention. Capitalism built all of human history. Every other system has failed.

@doujinflip День назад

Capitalism built human productivity, but civilization requires investing and maintaining things that aren't themselves profitable. Left alone, capitalism would M&A and litigate away competition until untouchable monopolies form.

@inbracedefeat 2 дня назад

As a product manager at Expedia. I find this video very interesting. I want people to use our business but don’t want them to go into crippling debt to do so. Travel smart! Save while you plan. I hope the economy gets better :(

@shawyonsharifi3394 День назад

Just wanted to say, Expedia is by the best travel booking app I’ve ever used. I book every single vacation I take on Expedia, flights, hotels and excursions. Literally the best one to use and super easy to book things with. So yeah jsut wanted to say ur company is the best travel agency around.

@markmilitant 2 дня назад

I disagree Millennials and Gen Z want to show off on Instagram social media how they went on vacation living lavish instead of saving they don’t care.

@beachdweller3378 2 дня назад

We dont go on vacation unless its all paid for before we leave. Some vacations we start paying for up to two years out. We also do hustles. Doing a side hustle is better than putting the cost on credit cards.

@Thats-a-fact-jack 2 дня назад

Many are putting them on credit cards and carrying a balance.

@Nighthawk-8050 2 дня назад

I personally know people who have max out there credits to go on expensive vacations with huge debt. They act like Elon Musk. One particular person I know have been going on vacations for years using credits cards. Now she's almost $400,000.00 in the hole I kid you not.

@JonesyTheFirst69 2 дня назад

I would cry if I had that much

@HavocRLJ 2 дня назад

😳 damn. I guess people will never learn.

@madmanhatter4819 2 дня назад

@@JonesyTheFirst69 😂 True!

@autumnislovely День назад

I don't know how one could rationalize going into debt for a vacation. I grew up low income and my parents would save for years just to go on one.

@guanxinated 2 дня назад

Two interesting insights: 1. Just under $2,000 per person is not that bad as it comes to $167 per month. 2. Taking on debt to go on vacation is insane.

@justicewilson7929 2 дня назад

I usually always travel in the off season or shoulder season. Less crowded and cheaper accommodations and flights.

@PG-tc6os 2 дня назад

I can’t believe that CNBC has to come up with a document like this to teach don’t people they can’t afford a vacation trip because these idiots are too broke 😂

@skyak4493 2 дня назад

What a proposition: tourist for a week=chump for 6 years paying it off @21% interest!

@lil----lil 2 дня назад

Why would you - _EVER_ - borrow money to go on a vacation? The pain & suffering will be 10x worse than whatever "fun" you'd get out of the vacation. If you REALLY wanted to go on a vacation...start saving! And when you finally saved enough, the urge suddenly "disappears" knowing how hard is it to save money and you're now taking a staycation. :D and you got a little richer!

@quit2quilt525 2 дня назад

This is stupid. Who goes into debt to take your kids to Disney World?? Those kids better wait and teach them to understand finances instead. You just can’t get everything in life at the moment just because you WANT it. Smh.. I’m glad I didn’t raise my children that way. I told them “go sit down some where”, then explained to them why we will save for what we want and HOW we will save for it. My children are young adults and 3 out of the 4 have excellent financial management skills. The lone one-my oldest son- just didn’t want to listen. And now he’s feeling the results of his poor decisions. It’s always that one…

@HauteHorizon 2 дня назад

With money they don't got

@icecold8974 2 дня назад

Just like America in general printing money we don’t got. 😂

@dumpsterbaby3155 2 дня назад

@@icecold8974 🤣 I don't got none neither

@tylerhair9067 2 дня назад

If you have to pay for it with a credit card, you cannot afford it and you should not do it. I guarantee you will regret it

@DieHard393 2 дня назад

If u loan for a vacation, u dont deserve a vacation

@Varo_95 2 дня назад

If I can’t afford a home might as well take a vacation around the world

@wt9653 2 дня назад

I take very simple vacations. I drive to where I want to go. My truck is packed with all the necessities of home living. My solar power system has plenty to light the dark nights. The battery is plenty large to run my refrigerator and cooking appliances. My average 1 week getaway costs me around 150 dollars.

@bookmarker7471 День назад

Im planning going on a cruise" next year". But how I'm going to do it is by paying monthly fees. I FINALLY FINALLY got some money saved in the bank and it's going to stay there.

@tuphdc8779 2 дня назад

Vacations aren't worth the effort. Nevermind the money

@Erinmills98 День назад

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are ridiculously high and Mortgage prices has been skyrocketing on a roll.i might just invest the 100k i have than waiting to buy a home

@BillAdamson-bp9ff День назад

The stock market will plummet further, so I advise you do critical analysis on companies you are going to buy. Even better, you could have an investment adviser guide you restructure your overall portfolio and offset the bad apples you’re holding, that strategy’s been working for me so far, saves me a whole lot of stress and continuous anxiety and also it’s very time efficient.

@AndrianWiener День назад

Very well said, who is this adviser that guides you and how did you find them? I don’t seem to find any locally and I’ve been having a terrible year.

@BillAdamson-bp9ff День назад

Kristin Amy Rose is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@RickMckee-nq4ni День назад

It matters not how much money you save, but how you handle it. Whether you work for a living or invest, it still boils down to revenue vs. expenses, so sure, you may look into financial consultants for a strategy that suits you

@AndrianWiener День назад

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

@drpandya 2 дня назад

Traveller here. I even traveled during COVId in 2020/2021/2022 for almost month each year. You cannot put price on memories or experiences in time while you can enjoy and you are capable physically. Old patients I spoke to, never regret their vacations or experience than material things. For people who are too thrifty or bashing people for going on vacation and not being able to afford it, there are ways to travel cheap. Traveling doesn’t mean business class flying or flying, staying in 5 star hotels/resorts or going to exotic destinations. It doesn’t have to be staycation either. You can take a bus or drive to few hours stay in budget but clean hotels. Stay in small towns/highly competitive areas. Don’t travel on peak season or days.

@MPPG663 2 дня назад

Exactly! It's those same people who are become narrow-minded because they've never seen how their fellow human lives outside of their city, state, or country.

@mocheen4837 2 дня назад

Watching this while on vacation in Paris.

@nickwinn 2 дня назад

Nobody should be allowed to go into debt for a trip to Disney, it's not worth it.

@DrBeauHightower 2 дня назад

Even if you can afford vacation, that is money you could have invested

@shawyonsharifi3394 День назад

But tbf a vacation is very important. Breaks from ur daily life and exploring new places and cultures meeting new people and making memories is an essential part of one’s life. So if u can comfortably afford it I highly recommend taking one.