Bankrate reposted this
With rising temperatures have come rising costs — and a willingness to take on debt for the sake of summer fun. "Funflation" isn't slowing folks down this season. According to the Bankrate surveys I covered in April, more than 1 in 3 Americans (38 percent) said they would take on debt for travel, dining out or live entertainment in 2024: https://lnkd.in/gX4ugNfN And of the roughly half of Americans (53 percent) planning a vacation this summer, more than 1 in 3 (36 percent) plan to go into debt to pay for it: https://lnkd.in/gDfYXkQc Even if money is tight, we still want to make memories with friends and family. But there are ways to find fun this summer without going into debt. Building a budget, saving for a sinking fund and using credit card rewards could help you go further with less. And by the way: sprinklers, hikes, libraries, playgrounds, lemonade stands, running clubs, public lakes and beaches, campfires and game nights are free! (ish.)
>Looks at Methodology >YouGov >Tosses survey in trash
Senior Insurance Writer at Bankrate
2moOne of the most interesting findings of this study for me is the data linking parenthood to willingness to go into debt for fun. I guess it's easier to sacrifice your own fun vs. your kids' childhood memories!