A staggering 42% of Americans surveyed by Bankrate say they chose to skip taking a vacation over the past year due to finances, while around a third reported that they are less able to afford one now versus five years ago (though 26% reported just the opposite), according to Bloomberg.
More than two-thirds of U.S. adults opted out of a recreational activity due to the cost at some point in the past year, the study found.
You can’t blame them. Trade tensions have economists projecting the likelihood of a recession in the next 12 months at 35 per cent. U.S. student debt is over $1.5 trillion. Almost 40 per cent of Americans think the economy is “not so good” or “poor.” -Bloomberg
Half of those surveyed said that the activities they skipped were too expensive to begin with or not a good value, 41% said they wanted to save money for other things, and 43% reported not having enough money in general after basic expenses were paid.
Suffering the most? Parents – over three quarters of whom with children under the age of 18 reporting that they’ve skipped leisure time vs. 66% of non-parents.
The survey of 2500 adults was conducted online in July.