Many Avoiding Vacations Because of Cost

By:
Chris Gaetano
Published Date:
Aug 14, 2019
jakob-owens-LaDAwnGqOGo-unsplash

While much attention has been paid to people avoiding vacations due to time pressures at work, another factor is just plain budget: A recent survey has found that many Americans aren't taking vacations simply because they can't afford to, according to Bloomberg. The survey, conducted by Bankrate, used a sample of 2,500 Americans. It found that 42 percent decided to forgo a vacation over the past year because it would have been too expensive. More than two-thirds cited cost as the reason for not pursing a leisure activity at some point in the past year. It's particularly bad for parents, at more than 75 percent. 

This could be another reason why another recent survey found that people prefer three-day weekends to vacations. It's unlikely that workers will spend the same amount of money over a long weekend than they would over a long vacation (excepting, perhaps, a day trip to a casino or something). 

Click here to see more of the latest news from the NYSSCPA.