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Economy

“36% of Americans plan to take on debt for summer travel. Here’s why that worries financial experts”

“…

  • More than one-third of summer vacationers say they are willing to take on debt to pay for travel, according to a March 2024 report from Bankrate.
  • About a quarter (26%,) of summer travelers said they intend to use a credit card and pay for the vacation over multiple billing cycles.
  • “This represents a lot of people taking on expensive debt, and this is the kind of thing that can linger,” said Ted Rossman, a senior credit card industry analyst at Bankrate.

…”

https://www.cnbc.com/2024/06/29/some-american-plan-to-take-on-debt-for-summer-travel.html

This is a bad idea. Now is the time to reduce debt not stack it.

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