Most millennials, struggling with bills, simply can’t afford vacations, observes Grumpy Editor after noting findings of a recent Deloitte study.
The study finds allocating more money toward vacations may not be possible for millennials when they are facing large expenses.
Millennials are mired in student loan debt, saving for down payments on mortgages while working to increase salaries. This combination of factors contributes to millennials’ struggle to afford vacations.
And millennials are not happy about it: 74% of them wish they could save more money to spend on vacations.
Millennials, points out Deloitte, also are the least likely generation to fund vacations by using credit cards.
Compare that to nearly 28% of those in the 54 to 72 age range, otherwise known as baby boomers, who are more likely to use credit cards as the primary source of vacation funding.
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