CHARLOTTE, N.C. — A Bankrate study found 53% of Americans are planning to take a summer vacation this year. More notable -- of those who plan to travel, more than a third said they are willing to go into debt to pay for it.
The survey also found that 62% of those traveling will pay for at least part of a summer trip using a credit card.
There is good news, though. More than half of travelers said they would pay for the travel expenses in full. Still, others will opt for carrying the balance over multiple billing cycles.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
The study also found willingness to go into debt for vacations may depend on which generation you fall in.
While 47% of millennials said they were willing to go into debt to pay for a summer trip, just 22% of baby boomers said the same.
Not everyone is leaning into the summer of spending, however.
Nearly 28% of adults said they would skip a vacation this year due to the cost.
Contact Kia Murray at kmurray@wcnc.com and follow her on Facebook, X and Instagram.
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