Do people prioritize vacations over financial obligations like credit card payments?
“Some people do prioritize vacations over financial obligations like credit card payments, and that group actually seems to be growing. A new WalletHub survey found that 41% more people would skip a credit card payment instead of a vacation this year compared to last year,” said Delaney Simchuk, WalletHub analyst. “After two-plus years of pandemic living, many Americans are clinging to the idea of making up for lost time, and if some interest charges and possibly a late fee are part of the price of making a long-awaited getaway happen, so be it. At least that’s where consumer sentiment seems to be right now.”
Should people consider traveling if it will get them into debt?
“You should really rethink your travel plans if they won’t be affordable without borrowing, since travel is a luxury and there are lots of inexpensive options and alternatives, like a staycation or a road trip somewhere close to home. Unfortunately, not everyone agrees. Thirty-two percent of people say travel usually gets them into debt, according to a new WalletHub survey,” said Delaney Simchuk, WalletHub analyst. “Having debt looming over your head while you’re trying to relax is no fun, so it’s best to save in advance.”