It has been reported that 12 percent of Americans sacrifice their savings in order to go on vacation. Tripping.com discovered these numbers after they took a consumer survey.
“It definitely surprised us to hear that people would skip out on important financial responsibilities, such as a mortgage, in order to finance their vacations,” says founder and CEO of Tripping.com, Jen O’Neal.
The survey demonstrated that those in the age group of 18-24 reported in the survey that they were OK with lying to their bosses in order to get time off of work. Older survey takers admitted that they would sacrifice payments on mortgages and rent in order to get away. While these numbers all vary based on the customer’s age, there are plenty of Americans that would put vacation before their debts and responsibilities.
Traveling and seeing the world is beyond just a cultural experience and something that everyone should do, though is it really worth risking your current status and life when you return home?
O’Neill, expresses the mentality of many Americans and people in general stating, “Human nature tends to favor immediate pleasures over long-term gains. So it’s understandable that some people may choose to make an extravagant purchase over taking care of their financial responsibilities. Unfortunately, they don’t always realize that doing so may risk their credit and can seriously impact their ability in the future to buy a home, get a loan, and so on.”
O’Neill expresses that although it is ideal to put money aside and save for vacations, many do not have the opportunity to do so because sometimes life and other unexpected financial issues get in the way. She expresses that if you are going to go on vacation regardless of your current situation, make sure to look around for the best traveling options that would save you the most money.
Photo By: ThinkStock
