How Americans Are Paying For Vacation

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