With summer travel season approaching, a new survey reveals most Americans report they can't afford to take a vacation this year.
Less than half of U.S. adults (46%) plan to travel this summer, according to a survey from Bankrate.com.
Nearly a quarter of U.S. adults (24%) are not planning any kind of vacation this summer. Roughly another quarter (23%) aren’t yet sure of their summer vacation plans, and 10% are planning a staycation.
Among those not traveling nearly two-thirds (65%) say they simply can't afford a vacation this summer.
When breaking down the numbers further, these same people report that everyday life is already too expensive, let alone adding travel costs.
The financial strain doesn't stop with those staying home. Among Americans who do plan to travel this summer, nearly a third say they'll have to go into debt to make their trips happen.
But vacation doesn't have to mean financial strain. Bankrate suggests considering a staycation instead, especially for Florida residents who have plenty of local attractions to explore without the high costs of long-distance travel.
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