How Americans Are Paying For Vacation

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  • Опубліковано 24 гру 2024

КОМЕНТАРІ • 1,8 тис.

  • @yeah_right88
    @yeah_right88 5 місяців тому +2207

    Never in my life would I go into debt for vacation

    • @KNRS927
      @KNRS927 5 місяців тому +82

      People go into debt for all sorts of things. Vacations, time sharing, weddings, you name it. They follow YOLO, and just want to enjoy life. I'm not that extreme, but I do get where these folks would be coming from.

    • @macmiller1678
      @macmiller1678 5 місяців тому +43

      @@KNRS927yeah I think social media and “fomo” leads people to make a lot of stupid decisions

    • @justSTUMBLEDupon
      @justSTUMBLEDupon 5 місяців тому +6

      Most do, definitely in 2023 and more so now.

    • @KNRS927
      @KNRS927 5 місяців тому +8

      @@macmiller1678 Some folks just have different priorities. Not everyone prioritizes retirement, planning for the future and FIRE as some others do. I prioritize tangible items or assets that I intend to keep for a long time, but others prioritize experiences and what not.

    • @dquan731
      @dquan731 5 місяців тому +23

      It’s absolutely insane to use credit cards with 20%+ interest. You think your life sucks now, you’ll have a fun time paying off your high interest debts.

  • @jeffcmo1957
    @jeffcmo1957 5 місяців тому +760

    Couple things here
    1. Vacations are Luxury not mandatory
    2. Taking Time off from work is necessary and extremely beneficial but not if it cost you and makes you going into debt
    3. Staycations are highly underrated, don’t travel but take time to enjoy the place you live.

    • @mocheen4837
      @mocheen4837 5 місяців тому +36

      People think they are entitled to a luxurious vacation. My coworkers take lavish vacations spending $10,000-15,000 each trip. This does not include the shopping while on vacation.

    • @diegolara4202
      @diegolara4202 5 місяців тому +56

      Staycations are my favorite. Free, and you just relax. Some vacations are more overwhelming than fun.

    • @dquan731
      @dquan731 5 місяців тому +14

      Yup. I’ve lived in my area for all of my life and I feel I’ve only scratched the surface of all the things I could be doing right here at home. It’s interesting people never try to plan a staycation and explore their hometown more. I’m guilty of that myself.

    • @nishaplustwo
      @nishaplustwo 5 місяців тому +10

      My family is doing a staycation this year, and my children are just as excited

    • @sp3357
      @sp3357 5 місяців тому +5

      @@diegolara4202 you know what you are exactly right I was gonna to New Orleans for a little vacation getaway but hearing stories and all of that I rather stay at home and save my money ❤

  • @dwoolf7019
    @dwoolf7019 5 місяців тому +2494

    The credit card debt can last longer than the memories of the trip.

    • @1Nynja
      @1Nynja 5 місяців тому +246

      The debt will help them remember.

    • @maestrovso
      @maestrovso 5 місяців тому +31

      Best comment of this video. Sadly it is too true to be funny.

    • @IbrahimMohamud-zf6xm
      @IbrahimMohamud-zf6xm 5 місяців тому +20

      😂​@@1Nynja

    • @robertgworek2497
      @robertgworek2497 5 місяців тому +41

      Debt can destroy the whole family. With debt stress and tensions come.

    • @shaunmc013
      @shaunmc013 5 місяців тому +8

      lol 😂 yeah but life is all about memories and sometimes you have to fund those memories. But I definitely wouldn’t do it lol 😅

  • @DonJulio4649
    @DonJulio4649 5 місяців тому +222

    Social media got to be one of the biggest contributors. People want to look rich and impress people online that can careless about them than to actually be rich by saving and investing

    • @helena3631
      @helena3631 5 місяців тому +7

      the average american makes less 50k and or less if your black how everyone is rich on the internet is beyond me

    • @Narutocoolcat
      @Narutocoolcat 5 місяців тому

      @@helena3631almost all internet “rich” people are fake

    • @RK-cj4oc
      @RK-cj4oc 4 місяці тому

      Debt.​@@helena3631

    • @leighsimmons2663
      @leighsimmons2663 2 місяці тому

      Yep. Keeping up with jones’ got amplified to keeping up with everyone, and social media really has amplified the desire to travel also, as it’s full of people posting their vacations at any given time so you feel everyone is living the dream apart from you.

    • @BenjaminKeller
      @BenjaminKeller 2 місяці тому +1

      I don't think most people actually care that much about looking rich, but Social media made it look like everyone you know is always on vacation and you feel like you deserve the same.

  • @markthompson1796
    @markthompson1796 5 місяців тому +2112

    If you can't pay cash, you can't afford it.

    • @liko098
      @liko098 5 місяців тому +23

      Amen.

    • @breannajones2161
      @breannajones2161 5 місяців тому +1

      🗣️

    • @isaiahdurenrealestate
      @isaiahdurenrealestate 5 місяців тому +9

      💯

    • @JomerTB
      @JomerTB 5 місяців тому +74

      A better rule is if you can't pay for it twice over, you can't afford it.

    • @Friedrich687
      @Friedrich687 5 місяців тому +6

      Normies when you tell them to control their impulses:

  • @bonky221
    @bonky221 5 місяців тому +332

    I plan my vacation 6 months in advance and go during non peak season. You'll save up to 50%.

    • @HighPriestessK
      @HighPriestessK 5 місяців тому +4

      👍🏿! Yes! I do too.

    • @erickn7985
      @erickn7985 5 місяців тому +16

      Facts I purchased my plane ticket to Barcelona in December for my trip next week. Roundtrip economy ticket from the Midwest to Barcelona, Spain $496.

    • @tayjones8552
      @tayjones8552 5 місяців тому +8

      Exactly, some people don't plan right.

    • @scottysteadman5063
      @scottysteadman5063 5 місяців тому +2

      💯

    • @Basquesi68
      @Basquesi68 5 місяців тому +1

      Exactly what we do

  • @ewrock7635
    @ewrock7635 5 місяців тому +585

    I do a "staycation" every time I get a week off of work. I have a modest salary and yet I'm able to max out my Roth IRA every year due to my simple lifestyle. Go hiking, go to your local zoo, or just catch up on reading. Plenty of affordable ways to enjoy time off.

    • @skeetrix5577
      @skeetrix5577 5 місяців тому +31

      one word-BORING rofl

    • @beepboopbeepp
      @beepboopbeepp 5 місяців тому +91

      @@skeetrix5577 if he enjoys it it’s not boring if you wanna go broke to have a little fun thats your choice this guy would rather chill and save.

    • @PelosiStockPortfolio
      @PelosiStockPortfolio 5 місяців тому +32

      @@skeetrix5577 you sound like every woman Ive ever known

    • @felixpope6073
      @felixpope6073 5 місяців тому +10

      We deserve to see more than our local zoo

    • @momomama2510
      @momomama2510 5 місяців тому +6

      That’s no way of living. Sorry! America should be considered a 3rd world country in 2024z

  • @latrinemarine826
    @latrinemarine826 5 місяців тому +59

    My wife and I have two kids, a mortgage, car payment, student loans, and making close to $150,000. After the bills are paid, there is nothing left over to save up for vacation. But never in my wildest dreams would I ever take out a loan with interest for a vacation. The mindset of living for today is going to wreck a lot of people’s tomorrow.

    • @stephenc2481
      @stephenc2481 5 місяців тому +1

      Understand finance is good thing. you know to not add on more unnecessary debt.

    • @thedude5040
      @thedude5040 3 місяці тому +3

      My wife and I don't have kids yet, but at $180k income we no longer have any loans and only 10 years left on our 5bed house mortgage we had built in 2021. You must live in a much higher cost of living than me. I graduated undergrad in 2018 and since then have paid off $100k of debt (student loans and car loans)

    • @latrinemarine826
      @latrinemarine826 3 місяці тому +1

      @@thedude5040 yeah dude you make $30,000 more than we do. A lot you can do with an extra $2500 a month.

    • @thedude5040
      @thedude5040 3 місяці тому +1

      @latrinemarine826 I live in small town near wichita kansas. Our property tax is horrible. $1000/mo for taxes and insurance on our 2800sq ft house, mind you the insurance is only $1200/yr.

    • @traildisc155
      @traildisc155 2 місяці тому +1

      You live above your means bro

  • @jesse2576
    @jesse2576 5 місяців тому +281

    When you go on vacation and have no debt the vacation hits different more enjoyable not worrying about debt

    • @martinezjames83
      @martinezjames83 5 місяців тому

      Just not everyone is willing to wait a few years

  • @containedhurricane
    @containedhurricane 5 місяців тому +359

    Borrowing money for vacation is stupid

    • @nata3467
      @nata3467 5 місяців тому +10

      go camping , not Disney- teach your kids responsible use of money and consumption

    • @containedhurricane
      @containedhurricane 5 місяців тому

      @SivalinPuthery The US government borrowed a lot of money because they could just print it out without being backed by gold, to fund the US' world domination projects

    • @bicgohill8756
      @bicgohill8756 5 місяців тому +3

      “Don’t be a dumb butt” Dave Ramsey.

    • @rg7729
      @rg7729 5 місяців тому

      I was literally gonna post taking a trip to disney is stupid ​@nata3467

    • @BRBallin1
      @BRBallin1 5 місяців тому +4

      You only have 1 life and 25 years of youth. It’s better to make the most out of your youth than get older and enjoy your mid to late 30s on those things when your friends are no longer able to socialize as bachelors

  • @Mr.Boring_Man
    @Mr.Boring_Man 5 місяців тому +765

    Americans have another option... wait and save. Also, live below your means so it's easier to wait, save and pay.

    • @longbeach225
      @longbeach225 5 місяців тому +63

      With this level of inflation people really can't save anything. Some jobs are now lower paying to make it worse. Its overall a bad situation.

    • @bilo6832
      @bilo6832 5 місяців тому +43

      Agree, and stop comparing yourself to people on social media. Most of those people are broke.

    • @mistervo8185
      @mistervo8185 5 місяців тому +31

      ​@@longbeach225but still, people don't need to make the situation worse by going into more debt for something they don't need to do.

    • @leealex24
      @leealex24 5 місяців тому

      I thought americans have very high nw

    • @shawnlassiter5274
      @shawnlassiter5274 5 місяців тому +20

      I couldn't agree more, people don't have patience anymore. Wait and save so you don't have to worry

  • @Republican4ever
    @Republican4ever 5 місяців тому +67

    No money = No spending.
    Y’all don’t need a Ph.D. to figured this out.
    Lifelong memories, I remember I grew up poor and nothing wrong with it.
    I still have peace and happiness.

    • @djm2189
      @djm2189 5 місяців тому +6

      Same grew up poor. I find happiness in such little things. I'm now 29, earn $120k, no debt and $150k in net worth. I'll splurge on a modest cruise or other things but I can also drive 1hr to the mountains and just find peace and amazement at the night sky. Being able to appreciate everything while also appreciating the very exotic trips fulfills lives.

  • @liko098
    @liko098 5 місяців тому +912

    People that go to vacation with a loan are the prime example of morons.
    Vacation is a luxury not a neccesity.

    • @mikea5745
      @mikea5745 5 місяців тому +10

      Really depends on your financial situation. I can take a loan against my 401k at 4% interest that I pay to myself. If I can take a 12-month, $4,000 loan @4%, against my 401k for a vacation, it would be financially irresponsible not to do it. I would be getting stock market gains for the money I didn't spend over those 12 months, in addition to effectively paying nothing for the loan (since I'll get the money back at retirement)

    • @rahundsigma
      @rahundsigma 5 місяців тому +94

      ​@@mikea5745quit yapping. Debt for vacation is dumb af

    • @jordane813
      @jordane813 5 місяців тому +47

      Time off is a necessity, I agree that expensive vacation aren't though

    • @AirNorthOne
      @AirNorthOne 5 місяців тому +7

      @@jordane813 but that's not what liko098 wrote... taking on debt for vacation is financially unwise and frankly stupid. Cause you will end up spending more of your limited lifetime to pay teh debt off.

    • @Lawliet734
      @Lawliet734 5 місяців тому +9

      @liko "...luxury not a neccesity [necessity]." Correct spelling and grammar are a necessity, not luxury.

  • @callieco_
    @callieco_ 5 місяців тому +151

    I just hear Caleb Hammer screaming "You can't AFFORD a vacation!!!!!!!"

  • @Thfcpwinner
    @Thfcpwinner 2 місяці тому +156

    Success ❤ is not built on success.. It's built on failure, It's built on fraustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in life...❤ 🇺🇸

    • @DanielEdward550
      @DanielEdward550 2 місяці тому +1

      This year I made $300,000 in bitcoin ETFs, S&P500 and other dividend funds and I still get up at 5 in the morning to continue growing." Those words and that discipline are what motivate me to move forward, thanks for the continuous updates on the financial markets.

    • @BNCacademy553
      @BNCacademy553 2 місяці тому

      How did you do this please? I am new to cryptocurrency investing, can you guide me on how to do this?

    • @JibrinJamcham
      @JibrinJamcham 2 місяці тому

      What is the best strategy to make profits from cryptocurrency investment?

    • @KalvinHill907
      @KalvinHill907 2 місяці тому

      😊😊😊

    • @KalvinHill907
      @KalvinHill907 2 місяці тому

      I'm a little perplexed to see her mentioned here too, I didn't know he was also good with so many people, this is wonderful, l'm on my fifth negotiation with her and it's been great.

  • @fieryelf
    @fieryelf 5 місяців тому +223

    If you can't afford the trip now, you most definitely can't afford to pay your credit card afterwards.

    • @zacquelinebaldwin2555
      @zacquelinebaldwin2555 5 місяців тому +4

      This is where budgeting and fiscal responsibility is very important. This is literally what my partner and I did. The credit card is the travel budget. We spent 4,000$. We pay it off 300$ a month. We can afford it so no big deal. We’ll take another vacation in two years. This is the “good debt” they talked about that boosts your credit score, if you have discipline and self control

    • @tylerhair9067
      @tylerhair9067 5 місяців тому

      @@zacquelinebaldwin2555lol! Good debt 😅😂

    • @nicholasselke5214
      @nicholasselke5214 5 місяців тому

      @zacquelinebaldwin2555 you just fell for the FICO scam. It’s cyclical. I have to go into debt, so I can build my credit, so I can go into debt, so I can build my credit, so I can go into debt, basically it’s a dog chasing it’s tail
      Also, it’s NEVER fiscally responsible to borrow money (yes, credit cards are borrowed money) for anything that is not a necessity. If you’re paying monthly on a credit card because you used it for a vacation, you shouldn’t have gone on that vacation. That would’ve been the fiscally responsible thing to do
      There is no such thing as good debt. Some debt is worse than others, but no debt is the only good debt

    • @Olav3D
      @Olav3D 5 місяців тому +16

      @@zacquelinebaldwin2555 20%+ interest is not good debt lmao. Good debt is for assets, a trip is not an asset. Keep rationalizing bad choices...

    • @TwistIsFly
      @TwistIsFly 5 місяців тому

      ⁠@@zacquelinebaldwin2555lol if you can’t pay it today then you literally by definition cannot afford it…there is no such thing of “good debt” when it is consumer debt. Actually insane reading this comment section and seeing how banks have absolutely brainwashed people like you to think this.

  • @patrickking9600
    @patrickking9600 5 місяців тому +113

    The worst thing is that our constant borrowing really just drives the cost of everything up even more.

    • @jstar3943
      @jstar3943 5 місяців тому +16

      100%
      Inflation is sticky largely because people are comfortable spending more. Folks will say they don’t like inflation, but then go into debt for vacations anyway lol

    • @mikea5745
      @mikea5745 5 місяців тому +5

      That's by design. Our economy is intentionally designed to have higher than necessary inflation. When consumers are spending more money, it increases the profits of large companies. The rich that own companies and stocks profit more with those higher margins

    • @ricardomartinhodacruz
      @ricardomartinhodacruz 5 місяців тому

      isnt it amazing when it crashes for people who actually save money

    • @SeiyaSoiya-un4jj
      @SeiyaSoiya-un4jj 5 місяців тому +2

      @@mikea5745
      Knowing that, you’d like to think people would prioritize savings. But they don’t, because they want instant gratification.

    • @1stTnetix
      @1stTnetix 5 місяців тому +1

      @@SeiyaSoiya-un4jjyou are people don’t forget this when you absolve yourself… what is your flaw, none I presume?

  • @SlowDriver2024
    @SlowDriver2024 5 місяців тому +121

    Yup, I use credit card for many things including vacations, BUT, I clear those charges out every month, bank sees me as "dead meat" and I love it! hahahaha

    • @HighlordFrancis
      @HighlordFrancis 5 місяців тому +14

      Points baby!!!

    • @doujinflip
      @doujinflip 5 місяців тому +4

      For interest charges anyway. They still have your spending habits and all the transaction fees that the merchant usually pays for.

    • @hsingholee1058
      @hsingholee1058 5 місяців тому +1

      And getting 2% back while doing it, nice.

    • @djm2189
      @djm2189 5 місяців тому

      ​@@doujinflip yeah but that happens with everything digital minus cash. There's a point where fckck it you can have it. It's not an issue if you have any self control lol

    • @djm2189
      @djm2189 5 місяців тому +1

      Yup. I've been using my Credit card like a debit card. Accumulated $2k in points over 2.5 years.

  • @craigemmett2425
    @craigemmett2425 5 місяців тому +203

    Lifelong memories: I remember my dad taking me camping and teaching me to fish.

    • @lil----lil
      @lil----lil 5 місяців тому +11

      Your dad paid the vacation from his savings (just ask him). 100% he didn't take out a loan for it.

    • @jorgeayala6310
      @jorgeayala6310 5 місяців тому +4

      Boring as #$##

    • @VendieSolde
      @VendieSolde 5 місяців тому +5

      ​@@jorgeayala6310 Like ya mammy

    • @thorsrensen3162
      @thorsrensen3162 5 місяців тому

      Today kids have to go to vacation, otherwise they will not have anything to tell in their school to the other kids. The teachers always ask the kids after the summer where they has been staying in the summer holliday,

    • @justinandout
      @justinandout Місяць тому

      that's toxic masculinity and following gender roles. Huge no-no nowadays. Shame on you and your dad!

  • @orichinal.
    @orichinal. 5 місяців тому +143

    If I can’t afford it, I simply do not go. Self control.

    • @tuphdc8779
      @tuphdc8779 5 місяців тому +6

      I can afford it but it's still a waste of time and money lol 😂

    • @orichinal.
      @orichinal. 5 місяців тому +1

      lol I hear ya! 😂

    • @zacquelinebaldwin2555
      @zacquelinebaldwin2555 5 місяців тому +1

      THEY ARE NOT STUPID. This is where budgeting and fiscal responsibility is very important. This is literally what my partner and I did. The credit card is the travel budget. We spent 4,000$. We pay it off 300$ a month. We can afford it so no big deal. We’ll take another vacation in two years. This is the “good debt” they talked about that boosts your credit score, if you have discipline and self control

  • @GovmntLacky
    @GovmntLacky 5 місяців тому +49

    I found this very interesting. I just looked to book a hotel for a vacation recently. For a 3-night stay at an Oceanside hotel, the range was from $2,000 to $2750! And they were almost fully booked!! Just for the hotel!! How are Americans hurting so bad if they can afford this? I make pretty good money and even I said NO WAY!! Insane!!

    • @MrLakers92
      @MrLakers92 5 місяців тому +11

      Well, because they actually cannot afford it.

    • @liahlove8297
      @liahlove8297 5 місяців тому +2

      Same. I have a very good job but I have been checking out islands I wanted to visit and decided I'll do it next year and yes I have a good savings and can afford it. And I know of people I earn more than that have traveled at least twice so far this year. Lol guess we have our priorities straight 😂

    • @kittymeowski
      @kittymeowski 5 місяців тому +2

      Google how many millionaires there are in America.

    • @nicholasselke5214
      @nicholasselke5214 5 місяців тому +1

      @kittymeowski look up what “millionaire” means. The vast majority of millionaires don’t have anywhere close to a million dollars in their bank accounts. Most tend to be tied up in the value of their homes (which are almost always paid off) and their 401k’s. Usually not much liquid cash except for their emergency funds

    • @MPPG663
      @MPPG663 5 місяців тому +1

      Why do you assume they're all Americans? And even if they are American, why do you assume they didn't save to afford those rates?
      People have to stop trying to count other people's money.

  • @tpp4007
    @tpp4007 5 місяців тому +13

    Me and my wife plan well in advance for vacation, typically about 6 months or so knowing the summer time will be coming. So we save enough to buy certain aspects like airplanes tickets first when we have enough, then pay for airbnb later when we have enough, then car rentals when we have enough, then so on and so on. I think that’s the best way to plan a vacation is to save well in advance.

    • @lataviaharris8836
      @lataviaharris8836 5 місяців тому

      I do the same thing, and I also catch deals in the off season.

  • @LaTericeallover
    @LaTericeallover 5 місяців тому +66

    What’s a vacation? You mean the week I stay at home, do chores:repairs and watch several seasons worth TV shows I’ve missed?

    • @HavocRLJ
      @HavocRLJ 5 місяців тому +4

      😂😂😂😂😂😂😂😂 that sounds about right!

    • @ingothitrust5248
      @ingothitrust5248 5 місяців тому +9

      I love Europe, but most of the time, I'd rather stay home, play computer games, and pig out on fast food. That often brings me a lot of peace, more so than any exotic vacation.

  • @George_consol_log
    @George_consol_log 5 місяців тому +113

    I can't believe people needed an analyst to tell them to save money and then go on a trip. Isn't that common sense.

    • @christophermarin8033
      @christophermarin8033 5 місяців тому +8

      Common sense it’s not so common nowadays.

    • @randomguy7175
      @randomguy7175 5 місяців тому

      The Democrats have taken over education system, dumbness is the new normal 😅

    • @Bob-yh7ir
      @Bob-yh7ir 5 місяців тому

      Not in America. Too many people have their heads stuck in the sand ( or up you know where ) to accept reality.

    • @stephenc2481
      @stephenc2481 5 місяців тому +2

      lol. don't you see how far society has fallen? No morality. No discipline. No accountability.

  • @Cballin
    @Cballin 5 місяців тому +36

    I always put my vacation on my credit card but i also pay that balance off before the end of the month.

    • @JBoy340a
      @JBoy340a 5 місяців тому +6

      That is smart. You got an interest free 30-day loan.

    • @Cballin
      @Cballin 5 місяців тому

      @@JBoy340a i guess, i only spend what i can pay off, i really only put it through the CC for the rewards

    • @zacquelinebaldwin2555
      @zacquelinebaldwin2555 5 місяців тому +5

      This is where budgeting and fiscal responsibility is very important. This is literally what my partner and I did. The credit card is the travel budget. We spent 4,000$. We pay it off 300$ a month. We can afford it so no big deal. We’ll take another vacation in two years. This is the “good debt” they talked about that boosts your credit score, if you have discipline and self control

    • @stephenc2481
      @stephenc2481 5 місяців тому +1

      That means you can afford it.

  • @keybraker
    @keybraker 5 місяців тому +50

    That woman talking about how important a Disney land trip is and how worth, it is to go into debt for it, sure is on the creditors pay roll.

    • @pomiform
      @pomiform 4 місяці тому

      She is such an airhead...probably in a ton of debt herself, that's why she needs to justify ridiculous expenses that are turning into debt slaves.

  • @Erintii
    @Erintii 5 місяців тому +105

    For me, as a European, it makes no sense to tale a loan for a holidays. It happens here too, but for me this is absolutely insane to go into debt for a holiday. I will be starting a mortgage soon, no holidays, staycations only, unless my apartment is truly mine. Staycations are cheap way to get to know surroundings, maybe start new hobby or restart old one? The only loans I take into account are mortgages for car, property or to start a new business. Can't afford holidays? Stay at home. Play with kids there are options.

    • @Siethon1
      @Siethon1 5 місяців тому +8

      It might also be important to note that for a European, you could visit completely different countries, landscapes, and cultures in a relatively short period of time versus Americans for relatively low cost as well. In Europe, you can catch a very cheap flight / high-speed rail for less than 200 euros, stay in a relatively nice hostel for 40 euro a night at the high-end, and use public transportation to get around conveniently. Not to mention the cheap food options, if you stay away from tourist areas. In the US, you may have to pay upwards of 300 dollars for the flight (especially at the right time of day), another 500 dollars (at least) to rent a car for a week (excluding gas), stay in a decent hotel for usually over 80 dollars a night, and eat meals well over 20 dollars a person.
      As a side note, I was able to rent a car for 3 weeks in Spain for about the same price as a rental car in Atlanta for 3 days! :(
      Of course there is something to be said about staycations and staying on budget, but in such a broad market, I think the barrier to entry for a holiday in the US is high enough to where more people are willing to go into debt in order to have a vacation for a week once a year in the first place. The "big squeeze" of capitalism here is very real everywhere you go. Sure, there are much cheaper ways to have a vacation, but in terms of overall "experience", the bang for the buck in Europe is much better if you know what you're doing.

    • @Erintii
      @Erintii 5 місяців тому +4

      @@Siethon1 I know it is different, I used to live in Canada so I know it is different. However I will still argue, that taking a loan for a holiday is reckless. Travelling is not needed for life and I prefer to stay in my own town and walk around the surroundings for two weeks than have 10 dollars in debt due to travel.

    • @VeraciusYT
      @VeraciusYT 5 місяців тому +2

      These days we have an offer, cross the country on train for like 8€. I could visit the Sagrada familia and the Alhambra in the same day for 8 bucks. As much as going abroad can be tempting, I still have so much to see at home.

    • @Erintii
      @Erintii 5 місяців тому +1

      @@VeraciusYT I agree 100%. There are many interesting places to see locally, wherever we are living in. It is cheaper, places are less crowded and still can be interesting to see. My dislike for a international travel stated few years ago: crowded and overbooked planes with poor service, over crowded places. Then I learned how this affects local housing market and decided to stop travelling far away.

    • @unlimitedpower4101
      @unlimitedpower4101 5 місяців тому +2

      Mortgages are specifically loans for any liveable spaces. A loan for a car is just a car loan, and I would suggest also never borrowing for that either since cars are a liability and not an asset.

  • @GenerationTech
    @GenerationTech 5 місяців тому +17

    2000$ a week is the problem, you can easily travel overseas for under $2000 a month

  • @ramstrong1961
    @ramstrong1961 5 місяців тому +106

    2008 is long forgotten...Americans are about to get a reminder.

    • @RJB
      @RJB 5 місяців тому +10

      ...and this time it will be wider spread.

    • @TravelTechie415
      @TravelTechie415 5 місяців тому +7

      I hope so, but I think this time around things will continue getting more expensive

    • @thorsrensen3162
      @thorsrensen3162 5 місяців тому

      I will rather buy an american built RV and travel around in USA than going to europa every year.

    • @USA-GreedyMenOfNoIntegrity
      @USA-GreedyMenOfNoIntegrity 4 місяці тому

      I’ve got my popcorn ready for Israelis and Americans.

  • @Diverse0725
    @Diverse0725 5 місяців тому +103

    The irony of having to work EXTRA hours to pay for time off is insane....

    • @1stTnetix
      @1stTnetix 5 місяців тому

      UNDERRATED COMMENT!

    • @bubba842
      @bubba842 5 місяців тому +1

      So you never take time off work??
      That's pretty sad.

    • @Diverse0725
      @Diverse0725 5 місяців тому +5

      @@bubba842 I take time off work. The video is about people going into debt to take time off work. That I will never do. If I can't pay for vacation, I will spend my days off at home. If I want to take a vacation, I will save up for one, not use a credit card.

  • @pmarcusb
    @pmarcusb 5 місяців тому +137

    This is why I didn't feel bad when people on social media complain about having no money. They waste money in so many different ways and don't live within their means.

    • @momomama2510
      @momomama2510 5 місяців тому +7

      That’s just not true. Millions of people don’t have any money to spend.

    • @SmartDew
      @SmartDew 5 місяців тому +11

      ​@@momomama2510doesn't change the fact that in general, there is a large proportion of the population that is moronic with their spending.

    • @momomama2510
      @momomama2510 5 місяців тому +5

      @@SmartDew I don’t think you understand what I’m saying.
      There is a big difference between when the economy is decent and people go into debt for stupid reasons.
      And when the economy is very bad and people can’t pay rent.
      There was and there will always be stu pid people. That’s probably never going to change. But the number of people putting their vacation on their CC has definitely shrunk in % because people use their CC for food now instead and can’t even think of vacationing.

    • @SmartDew
      @SmartDew 5 місяців тому +5

      @@momomama2510 did you just not watch the video at all? Over a third of people are funding their vacations with debt which is probably the second stupidest financial decision you can make behind "investing" into crypto.

    • @pmarcusb
      @pmarcusb 5 місяців тому +8

      @@momomama2510 majority of people are stupid with money. People that are smart with money are doing well. Using Uber, ordering Uber eats, music and streaming subscriptions, wanting to live alone, have a 30k+ car, be able to go out and enjoy nightlife, plus take vacations doesn't make financial sense if you make the average 40-50k annually. So many people have the, you only live once and tomorrow's not promise mindset. That mindset has consequences.

  • @jimv77
    @jimv77 5 місяців тому +14

    We saved up for two years to go to Honolulu Hawaii for for the first time for 8 nights earlier this month. Total cost for family of four was $7,800. Our budget was probably $9-10k. Our tip to Europe in 2022 was ~$13,000. That took us four years to save up for.
    We did A LOT of driving vacations to National Parks when the kids were younger.

    • @RJB
      @RJB 5 місяців тому

      Did you book your trip to Hawaii through anywhere or do it piece by piece?

    • @jimv77
      @jimv77 5 місяців тому +1

      @@RJB Piece by piece. Southwest airlines. AirB&B. Priceline-Hertz.

    • @RJB
      @RJB 5 місяців тому

      @@jimv77 thanks. We are looking to go through Costco Travel, they have some pretty decent deals. Just need to decide on one and head on out.

  • @chessmaster1115
    @chessmaster1115 5 місяців тому +128

    Rice and beans for me staying home because i am too broke for a vacation.

    • @cutenobi
      @cutenobi 5 місяців тому

      You’re smart. American’s using loans for vacations are lot more broke than you…they’ll continue to stay broke by doing so.

    • @skyak4493
      @skyak4493 5 місяців тому +9

      Splurge and put some sausage in the beans. It really makes the meal. If you want to do even better and cheap, my favorite is black beans with taco seasoning (chili powder) a breakfast sausage, and some foraged stinging nettles and garlic mustard! With freash chips this will beat 80% of vacation meals.

    • @abdiganiaden
      @abdiganiaden 5 місяців тому +6

      You’ll get old and wonder what you did with your young and productive life

    • @SeiyaSoiya-un4jj
      @SeiyaSoiya-un4jj 5 місяців тому +14

      @@abdiganiaden
      Nope. He’ll get older and have financial freedom because he sacrificed a little now for enhanced gratification later. Foreign concept to young Americans, I know.

    • @sp3357
      @sp3357 5 місяців тому

      @@SeiyaSoiya-un4jj❤ yep

  • @TStark-vj2wo
    @TStark-vj2wo 5 місяців тому +9

    One of our favorite vacations was a staycation. Living in the northeast, we decided to hike the highest peaks in each state (MA, NH, ME, VT, RI & CT). It was a week filled with camping, hotels, road trip and some lasting humor as RI mountain was... a bump a few 100 feet of a road.

  • @Johnfisher12345
    @Johnfisher12345 5 місяців тому +80

    Taking out a loan to go on a vacation is INSANE. So is paying credit card interest to pay for it. What on earth are people thinking??

    • @DamianBadalamenti
      @DamianBadalamenti 5 місяців тому +10

      They need those insta or Facebook pictures to look successful or like they live a fantastic life for all those people they actually don't like..

    • @ledheaded12
      @ledheaded12 5 місяців тому +5

      That’s the problem… no thought just want… crazy misstate to be in

    • @DrBeauHightower
      @DrBeauHightower 5 місяців тому

      This ​@@DamianBadalamenti

    • @ungluedmom
      @ungluedmom 5 місяців тому +5

      They "earned" it.

    • @Olav3D
      @Olav3D 5 місяців тому +5

      @@ungluedmom The funny thing is that did not even earn it considering they are going into debt to pay for it lol

  • @xiphoid2011
    @xiphoid2011 5 місяців тому +110

    I'm an Asian American. Almost laughed out loud that some people are willing to go into debt to take a vacation. I mean, I am really tired of hearing people complaining about inflation when we Asian Americans have no problem saving double digit % of pay every month. The same people complaining about inflation are eating out and taking out loans for vacations. Gota love these first world problems, only in America.

    • @blackmantravel6954
      @blackmantravel6954 5 місяців тому +32

      Asian Americans, on average, make higher incomes than the average American. Which means you have a higher saving rate and higher disposable income.

    • @wastingtime6211
      @wastingtime6211 5 місяців тому +4

      Yeah same.. my gf is Asian American but is min wage and literally just took on debt to go on a vacation. I knew I couldn't tell her no but it just sucked to see the hole get dug deeper esp after taking debt last year for a dif vacation and etc.
      She said I can look at her finances after and maybe I can encourage her to pay off the debt once she sees how it's possible, but yeah it's like when ur at the bottom of the barrel like that they don't see a reason why to care. Hard to break through

    • @yvonnewong364
      @yvonnewong364 5 місяців тому +12

      @@blackmantravel6954that’s b/c as an Asian, we pay more emphasis in our education.

    • @KaioshinAemi
      @KaioshinAemi 5 місяців тому +7

      I’m Asian too, I worked 12 hours a day and 6 or 7 days a for many years. I don’t take vacation unless visiting my family in California. I don’t earn much but I paid off my $350K home, I paid off all my 3 cars. I have and saved enough money to retire early at 55 years of age. Vacation means taking time off work to stay at home relaxing, getting things done, enjoying free beach, playing ball at the park., riding bikes around town for fun. I don’t rental cars, hotels or expensive restaurants.

    • @duerf5826
      @duerf5826 5 місяців тому +7

      Preach. I contribute to Roth IRA and 401k to their maximum allowable limit every year and still have some leftovers to put into a HYSA while colleagues with comparable salary are constantly broke. Excessive consumerism is built into Americans’ DNA.

  • @MuchachoCarracho
    @MuchachoCarracho 5 місяців тому +19

    Love putting expensive trips abroad on Amex. Not only is it a temporary cash management tool, racking those air miles is sweet. Then we pay it all up before interest kicks in and voila. No balance, no instalments. I would never go somewhere I couldn’t pay in cash, but a I’ll milk those rewards if I can.

    • @pushslice
      @pushslice 5 місяців тому +1

      Exactly true, but …I’m getting the impression in this video that …not everybody does this??
      wtf?
      Credit card spiffs/rebates are awesome. It’s like a nice bonus discount, that makes the memories just that tiny bit sweeter when you see them roll into your account a couple of weeks after I get back from the travels.

  • @gabrieljosue2451
    @gabrieljosue2451 5 місяців тому +11

    Debt addiction gives you an illusion of happiness while destroying your life and future. No different than a drug or alcohol addiction but with the added bonus of taking your family with you.
    People call it lack of financial education but most go into debt knowing very well the damage that it is doing , again…… addiction

  • @proudantiguan6897
    @proudantiguan6897 5 місяців тому +86

    Miles sounds fun until you understand you need to spend thousands to get the needed miles

    • @TheCloveart
      @TheCloveart 5 місяців тому +8

      The best way to accumulate value is intro bonuses on multiple cards. I have around $6K in pts and miles and I know others online that have way more.

    • @JomerTB
      @JomerTB 5 місяців тому +16

      Still worth it though versus spending the thousands you do normally on groceries and everyday expenses throughout the year. Might as well get a free trip out of it at the end of the year with those accumulated points.

    • @tommyatkinson7312
      @tommyatkinson7312 5 місяців тому +4

      True, you should only try accumulating miles if you’re buying stuff on the card that you’d buy anyway AND if you pay it off in full every month. For a large number of people who do not adhere to those guidelines, miles are a total ripoff.

    • @shawyonsharifi3394
      @shawyonsharifi3394 5 місяців тому +3

      But u spend thousands anyways so might as well put it on a mileage card.

  • @jeanah685
    @jeanah685 5 місяців тому +5

    I take several mini vacations throufhout the year doing things I enjoy within 100 miles of my home. No debt and I spend very little of my vacation time traveling to and from my vacation destination. When it's over I'm refreshed and rested and not in debt for a vacation.

  • @ReddingRed
    @ReddingRed 5 місяців тому +70

    Buying money at an interest for a vacation is why Americans have no retirement savings.
    Well done...teach your kids about money by being honest about what you can afford. It will serve them well.

    • @PelosiStockPortfolio
      @PelosiStockPortfolio 5 місяців тому +11

      People are taking their retirement vacations during their younger years. They will then be forced to keep working during old age. In 50 years we will see many videos about people who cant afford to retire and have to work into their 80's... they probably will put the blame on something else though

    • @pappadudat
      @pappadudat 5 місяців тому +5

      Noooooooo the reason most Americans have no retirement savings is because the “social security” they take out that THEY don’t have to pay us back, raising cost of food and jobs not paying. I own my own business and I see the hit it’s taking. I rather go on vacation and deal with the problems after instead of dealing with problems now and problems later

    • @mikea5745
      @mikea5745 5 місяців тому +4

      America incentivizes not saving. Money is practically free here. In many cases it's financially irresponsible NOT to finance things with debt. I could have bought my house in cash, but the interest rates and incentives made the effective mortgage rate just under 4%. I took the mortgage and left my cash in the stock market. Stock returns are double the mortgage payment. By the time my house is paid off I'll have never paid a cent for it, and had far more starting capital than when I started. Terrible system that only advantages those who already have money

    • @ReddingRed
      @ReddingRed 5 місяців тому +2

      @@mikea5745 Just how many Americans can pay cash for a house? Are you claiming that a $735 monthly payment at an average rate of 7.18% and a loan term of 67.62 months is financially RESPONSIBLE?

    • @Incomeking-v4s
      @Incomeking-v4s 5 місяців тому

      @@pappadudatuhh government is financing your social security okay. U think we actually pay a Pugh for ss

  • @ladhkay
    @ladhkay 5 місяців тому +35

    Am I the only one who doesn't need instant gratification and can wait to save up for my trips and other wants in my life??

    • @stephenc2481
      @stephenc2481 5 місяців тому

      This is why only few people are successful, while lots are living paycheck-to-paycheck.

  • @Sherona1111
    @Sherona1111 5 місяців тому +31

    I turned 30 this year and in my 20s I was living the highlife. I don't have a lot of debt just 29,000 in Student Loans. But for the next decade, my goal is to be as frugal as possible In all aspects . Especially no vacations, I can't wait to see you what fruits that bear. So happy for the information age🙌🏾

    • @HavocRLJ
      @HavocRLJ 5 місяців тому +7

      Kudos to you. You get it. Pay off your debts. Spend a little and save a lot. Having long-term and short-term goals will help you for the rest of your life.

    • @MPPG663
      @MPPG663 5 місяців тому +1

      ​@HavocRLJ Assuming you get to live it.
      Chronic alignments and terminal illnesses are on the rise amongst younger demographics. Much more than in times past...
      I don't advocate being irresponsible, but this idea that everyone should hustle, grind, and burn the candle at both ends because "you can enjoy things later in life" is slightly unsettling.

    • @1stTnetix
      @1stTnetix 5 місяців тому +1

      Momento morí 😊

    • @LiamRappaport
      @LiamRappaport 5 місяців тому

      Sounds like a crash diet. Don’t push it too far or you may burn out. You need to still have fun while you’re young, it doesn’t have to be expensive. Find good deals, use air miles, stay with friends that live in cool places. I can do a month long trip for $2k.

    • @happycook6737
      @happycook6737 22 дні тому

      I like staycation vacays or day trips.

  • @DR-cu2fl
    @DR-cu2fl 5 місяців тому +15

    Going into debt for vacation is crazy.

  • @AdeleLaurie1
    @AdeleLaurie1 5 місяців тому +673

    The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

    • @CharleyHull-dn6nh
      @CharleyHull-dn6nh 5 місяців тому +2

      A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.

    • @fawnriverpuppyservices76
      @fawnriverpuppyservices76 5 місяців тому

      Very true. Despite having no prior investing knowledge, I started investing after the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.

    • @fawnriverpuppyservices76
      @fawnriverpuppyservices76 5 місяців тому

      the key is to take advantage of your savings and hedge it somewhere were you have a guaranteed return of investments like bonds, etfs stocks and may favorite digital assets

    • @WilliamsTyler5
      @WilliamsTyler5 5 місяців тому

      How do I find this financial counselor ?

    • @fawnriverpuppyservices76
      @fawnriverpuppyservices76 5 місяців тому +1

      Finding financial advisors like Melissa Jean Talingdan who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

  • @danielwoolman8969
    @danielwoolman8969 5 місяців тому +11

    I have a 800 score with 100 percent on time payment and most my cards have 29 percent interest rates.

    • @FloriDUH_JBot
      @FloriDUH_JBot 5 місяців тому +1

      Pre-2008, that credit would have gotten you a low, fixed single-digit interest rate. Something most would have considered reasonable. Times have certainly changed.

    • @doujinflip
      @doujinflip 5 місяців тому +2

      If you pay off your balance every cycle, it doesn't matter what interest rate they charge.

  • @jeanah685
    @jeanah685 5 місяців тому +19

    That's exactly the type of priority problems that keep people poor.

    • @stephenc2481
      @stephenc2481 5 місяців тому

      ...nowadays, people will be reckless and blame it on racism or the evil 1%.

  • @wannabe41
    @wannabe41 5 місяців тому +6

    I was fortunate that during the height of the pandemic, my finances were stable. I was working from home and saved a lot of money on gas and other expenses related to going into the office. So I put what I saved into a second savings account and one of the things I would use those savings for would be a vacation.

  • @NYCGemini2000
    @NYCGemini2000 5 місяців тому +70

    maxing out credit cards, and not having any savings lol. my friend went on vacation and had no savings when he came back. Also they by flights using buy now pay later methods

    • @mad2barxhst
      @mad2barxhst 5 місяців тому +9

      Taking out a mortgage on a home to pay for a vacation trip. There’s gotta be something better than “robbing Peter to pay Paul. Such false economic growth when everything is based on getting into debt and deeper debt.

    • @HavocRLJ
      @HavocRLJ 5 місяців тому +13

      I have friends who prioritize going on vacation and travel. They have no savings what so ever living paycheck to paycheck. I just sit back and watch 👀.

    • @shanishine38
      @shanishine38 5 місяців тому

      Make sure to look broke so they don't come to you looking to hold a dollar. ​@HavocRLJ

    • @MPPG663
      @MPPG663 5 місяців тому

      ​@@HavocRLJ Sounds like they're having a ball!

    • @stephenc2481
      @stephenc2481 5 місяців тому

      wow...

  • @brrr8995
    @brrr8995 Місяць тому +2

    I didn’t realize CNBC was part of the problem. The fact that you would put experts on here that even suggest going into debt for a vacation is diabolical. People that don’t know any better may listen to that.

  • @attattatt
    @attattatt 5 місяців тому +6

    Wife and i did 10 days in spain for under 5k. We did 10 days in mexico for under 3k. These were nice vacations. It can be done "cheaply".

    • @SkruffiRuffi
      @SkruffiRuffi 5 місяців тому +1

      I traveled through most of Europe for three months, costing me 3k. Did the same in the Balkans for the same budget, only for a third of the length. I think it depends on your perspective and standards. My American girlfriend also thinks that a 5 day cruise for 3k is cheap, lol.

  • @summaryjudgment
    @summaryjudgment 5 місяців тому +52

    No kid "dreams of going to Disney World". Parents just want the acknowledgment that they were able to take their kid to Disney.

    • @kni9ght
      @kni9ght 5 місяців тому +4

      Especially not these days

    • @AquAcid
      @AquAcid 5 місяців тому +5

      Idk I'll never forget the time my family took me to universal when I was a child, generalizing everyone's experience to justify not taking your own kids there is ridiculous.

    • @appliedengineering4001
      @appliedengineering4001 5 місяців тому

      I was gonna say. Disney world today just absolute sucks, compared to what it was just 30 years ago. Today, we go to Pigeon Forge, Tennessee instead. It's 5 times cheaper and less crowded the Disney world. Plus, the kids like it a whole lot better then Disney. When your kids are telling you that Disney sucks, then you know that something is wrong.

    • @r4ym1n13
      @r4ym1n13 5 місяців тому

      ​@appliedengineering4001 I am looking up Pigeon Forge right now. Looks like a fun mountain town. Thanks for the recommendation. I would love to take my little girl there

  • @inbracedefeat
    @inbracedefeat 5 місяців тому +9

    As a product manager at Expedia. I find this video very interesting. I want people to use our business but don’t want them to go into crippling debt to do so. Travel smart! Save while you plan. I hope the economy gets better :(

    • @shawyonsharifi3394
      @shawyonsharifi3394 5 місяців тому +1

      Just wanted to say, Expedia is by the best travel booking app I’ve ever used. I book every single vacation I take on Expedia, flights, hotels and excursions. Literally the best one to use and super easy to book things with. So yeah jsut wanted to say ur company is the best travel agency around.

  • @alexsteven.m6414
    @alexsteven.m6414 5 місяців тому +537

    Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

    • @belobelonce35
      @belobelonce35 5 місяців тому +1

      I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.

    • @edelineguillet2121
      @edelineguillet2121 5 місяців тому +1

      This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far

    • @yolanderiche7476
      @yolanderiche7476 5 місяців тому +1

      That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?

    • @valeriepierre9778
      @valeriepierre9778 5 місяців тому

      I found her page by searching for her entire name online. After that, I emailed her and we set up a meeting so we could talk; I'm currently waiting on her response.

  • @luckygurl70
    @luckygurl70 5 місяців тому +5

    Social media & FOMO is 100% to blame for the insanity of going into debt for the sake of vacation.

  • @laughingvampire7555
    @laughingvampire7555 5 місяців тому +2

    In Mexico we use loans to pay for vacations, but we don't use the credit cards, travel agencies offer credit with monthly payments without interest

  • @mad2barxhst
    @mad2barxhst 5 місяців тому +36

    Vacation on debt is becoming the norm in the US. The devil is in that credit card.

    • @Lovelyinspo
      @Lovelyinspo 5 місяців тому

      🎯

    • @KNRS927
      @KNRS927 5 місяців тому +6

      The devil is peer pressure, more than anything. Credit card is just a fuel to that peer pressure.

    • @DamianBadalamenti
      @DamianBadalamenti 5 місяців тому +2

      The comparison networks made keeping up with Jones more important than retirement.

    • @robert8311
      @robert8311 5 місяців тому +4

      People being stupid is the problem not necessarily the credit card
      If you smart and do what you can afford to later do what you wouldn’t want to spend later is up to the consumer not the credit card

    • @nicholasselke5214
      @nicholasselke5214 5 місяців тому

      @robert8311 Dave Ramsey said it best. The credit card is a symptom

  • @morgangrant5180
    @morgangrant5180 5 місяців тому +2

    Right after college I had a bunch of expected and unexpected costs. Spent all my money before I started my first job and went into $4000 in credit card debt. It took me a year to pay it off. Not a good feeling having less than no money! Never again..

  • @justicewilson7929
    @justicewilson7929 5 місяців тому +6

    I usually always travel in the off season or shoulder season. Less crowded and cheaper accommodations and flights.

  • @jon6309
    @jon6309 5 місяців тому +4

    I live in Hawaii and vacations are something I don’t really spend money on but would love to do it more often. The last time I went on a trip was around 2018-2019. I visited Seattle and Vancouver, Canada. I am a disciplined saver with no debts so I didn’t have to take out a loan for the trip but it did cost me several thousands of dollars in savings for the experience. I really want to visit Japan since the dollar is so strong compared to the yen right now. I notice for my generation (millennials) many have accumulated too much debt. I have no student loans but I don’t have a high paying job and just save. My sister has a better job than me but she spent a lot of time and money pursuing her post graduate education and is now $150,000 in student debt. Even with this in mind she still spends lavishly on vacations and will fly first class to places. I honestly would just fly economy since it’s just the ride to the destination and would rather spend more money on the experience itself!

  • @Danny-cs2hm
    @Danny-cs2hm 5 місяців тому +5

    Bottom line… don’t put your vacation on a credit card… don’t take a loan to vacation. Forget what people on social media are doing. Social media is not realistic.

  • @Lalo-ik4zg
    @Lalo-ik4zg 5 місяців тому +1

    I'm 29 now and have never been on vacation. My family grew up poor, so that was never a thought when food and housing were the main focus. I have lasting and warm memories with my family that go as simple as a trip to the park. It's mind-boggling to me how people will splurge 2k or 3k on an experience that is easily forgotten.

  • @ss-fc2fh
    @ss-fc2fh 5 місяців тому +4

    It is possible to take a vacation and not spend thousands of dollars. Staycation, drive to a neighboring city, etc. These people are ridiculous. If the vacation is not affordable then they are not taking an appropriate vacation. No one is entitled to a vacation they can't afford.

  • @shwanflake
    @shwanflake 5 місяців тому +14

    This segment truly a PRIDE video, 90% of the couples representative of the pride month. The younger generation learned that waiting to have money for a vacation may not happen if it does either the kids are grown up or they are too old to enjoy the vacation. Money you can borrow and earn, but you can not borrow time.

  • @trevorross1311
    @trevorross1311 5 місяців тому +16

    Just do a staycation, and still watch what u spend.

    • @marcushennings9513
      @marcushennings9513 5 місяців тому +1

      Gate off a section of the house and do a Bundy Vacay.

    • @JBoy340a
      @JBoy340a 5 місяців тому +3

      If money is tight that is the way to go.

  • @Diverse0725
    @Diverse0725 5 місяців тому +7

    "I can't afford it" the more someone says this, the more responsible they are with their money

  • @Luxetveritas11
    @Luxetveritas11 5 місяців тому +18

    It’s not hard to save $166/month. Forget financing $2,000 at 20%.

  • @Jware2032
    @Jware2032 5 місяців тому +4

    I went to Disney World as a kid, but as a 34-year-old man I only remember the long bus ride and the fact that we went

    • @connordoyle502
      @connordoyle502 5 місяців тому

      I remember waiting 3 hours to ride that log ride (splash mountain...?) And a turkey leg

    • @warrenlewis3977
      @warrenlewis3977 2 місяці тому

      I went to Disney World in 1977, I only remember Mickey Mouse salt shakers my mother bought.

  • @reisyta
    @reisyta 5 місяців тому +3

    I save money to go for vacation, thats why i only go every 2 years to go abroad and just staycation the rest of the year. If you use credit card for vacay, it means you can’t afford it unless you will pay in full.

    • @darinherrick9224
      @darinherrick9224 5 місяців тому

      ONLY every 2 years? You're stinking RICH. I haven't been able to go in 7 years. And every vacation has been a drive somewhere.
      I could never even afford to travel to another country or even across the country.

  • @miamivicefanatic9736
    @miamivicefanatic9736 5 місяців тому +9

    Residing in a tourist city makes staycations easy.

  • @selfridgesforever4399
    @selfridgesforever4399 5 місяців тому +10

    This year will be my first holiday in 3 years becauae I can finally afford it. Taking our debt to go on holiday doesn't make sense to me.

    • @darinherrick9224
      @darinherrick9224 5 місяців тому +1

      I haven't been on a vacation in 7 years because I'm poor and have medical debt. What should I do? Just die without ever going anywhere?

    • @selfridgesforever4399
      @selfridgesforever4399 5 місяців тому

      @@darinherrick9224 if you want to go on vacation using debt then go ahead

  • @bookmarker7471
    @bookmarker7471 5 місяців тому +2

    Im planning going on a cruise" next year". But how I'm going to do it is by paying monthly fees. I FINALLY FINALLY got some money saved in the bank and it's going to stay there.

  • @Erinmills98
    @Erinmills98 5 місяців тому +9

    I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are ridiculously high and Mortgage prices has been skyrocketing on a roll.i might just invest the 100k i have than waiting to buy a home

    • @BillAdamson-bp9ff
      @BillAdamson-bp9ff 5 місяців тому +5

      The stock market will plummet further, so I advise you do critical analysis on companies you are going to buy. Even better, you could have an investment adviser guide you restructure your overall portfolio and offset the bad apples you’re holding, that strategy’s been working for me so far, saves me a whole lot of stress and continuous anxiety and also it’s very time efficient.

    • @AndrianWiener
      @AndrianWiener 5 місяців тому +3

      Very well said, who is this adviser that guides you and how did you find them? I don’t seem to find any locally and I’ve been having a terrible year.

    • @BillAdamson-bp9ff
      @BillAdamson-bp9ff 5 місяців тому +6

      Kristin Amy Rose is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

    • @RickMckee-nq4ni
      @RickMckee-nq4ni 5 місяців тому +2

      It matters not how much money you save, but how you handle it. Whether you work for a living or invest, it still boils down to revenue vs. expenses, so sure, you may look into financial consultants for a strategy that suits you

    • @AndrianWiener
      @AndrianWiener 5 місяців тому +2

      Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

  • @Darksh0t009
    @Darksh0t009 5 місяців тому +2

    Miles works great. All of my bills first go through my credit card and I immediately pay it off so by the end of the year I can go anywhere without extra spending❤.

  • @T.S.000
    @T.S.000 5 місяців тому +3

    Living in Hawai'i, I see so many tourists walking around on the streets of Waiki'ki. Now I wonder, how many of those people borrowed the money (and cannot pay off the debts), so they can come to walk around on the streets?

  • @jzjzjjz896
    @jzjzjjz896 5 місяців тому

    I don't understand the graph shown in 3:19. Why the numbers don't add up to 100%? Aren't those options mutual exclusive?

    • @noobicusmaximus5696
      @noobicusmaximus5696 5 місяців тому

      buddy its a percentage of americans who do those things they are overlapping statistics

  • @TheReallDonaldTrump
    @TheReallDonaldTrump 5 місяців тому +7

    Many are putting them on credit cards and carrying a balance.

  • @andoverwarren6392
    @andoverwarren6392 5 місяців тому +2

    Why did you not report on BNPL - like Klarna? Online ticket purchasing puts this option right in front of the consumer.

  • @skyscraperfan
    @skyscraperfan 5 місяців тому +3

    Why not just save the money BEFORE your trip? If you can't do that, what makes you think that you can do it AFTER your trip?

  • @joelcleare
    @joelcleare 5 місяців тому +1

    11 day vacation from Arizona to Rome, Manarola, and Florence. $15k for a family of 4. That’s an economy vacation too. But did not take on debt to do so. While there last month we noticed a ton of Americans. I was like …. See the economy is doing just fine.

    • @doujinflip
      @doujinflip 5 місяців тому

      That's not what politicians and media outlet sponsors want you to think though.

  • @wt9653
    @wt9653 5 місяців тому +7

    I take very simple vacations.
    I drive to where I want to go. My truck is packed with all the necessities of home living.
    My solar power system has plenty to light the dark nights. The battery is plenty large to run my refrigerator and cooking appliances.
    My average 1 week getaway costs me around 150 dollars.

  • @AMan7595
    @AMan7595 5 місяців тому +2

    I do use credit cards for vacation. I then proceed to pay off all balances immediately and pocket the cashback. If you cannot pay in cash, then you cannot afford it. The only exceptions are a house and absolute emergencies. Both of which are few and far between.

    • @KNRS927
      @KNRS927 5 місяців тому

      I do the exact same thing. I also have a travel credit card combined with my cash back card though so I might use some of my points to fund the flight on a future trip, and that helps me save a little bit on trips here and there.

  • @wesleykawakami8563
    @wesleykawakami8563 5 місяців тому +12

    You don't need to spend a lot of money on an expensive vacation to have lifelong memories. That's just what the travel industry tries to sell you. The best memories my kids have are going to the petting zoo, parks, beach, etc. They hardly remember the trips to Disneyland.

    • @TaureanBaby
      @TaureanBaby 5 місяців тому +2

      And people say that Disneyland is unbearable now. Nothing like the 80s or 90s.

  • @willjean1614
    @willjean1614 5 місяців тому +1

    I was in Montreal over the weekend, I wanted to extend my stay for another day, they told me $600 a night, while I paid $200 before, I told the kids we driving back to nyc today,

  • @ZakiSalem-zh5gr
    @ZakiSalem-zh5gr 5 місяців тому +11

    Most people are using credit cards to pay for essentials these days, not just vacations

    • @darinherrick9224
      @darinherrick9224 5 місяців тому

      Try paying medical debts on a credit card.

  • @Jon0387
    @Jon0387 5 місяців тому +1

    For the last two summers, rather than vacations I took that money and went to Home Depot and Lowe’s and have been renovating my backyard. The nice thing is, it last longer than the two weeks of vacation.

    • @imagrownassman1
      @imagrownassman1 5 місяців тому

      Renovating how? Because it's just your backyard in the long run and that's not experiencing much in the end

  • @neilmckay8649
    @neilmckay8649 5 місяців тому +18

    2 week staycation without Internet would create life long memories and bonding

  • @emsvergel
    @emsvergel 5 місяців тому +1

    Having vacations with my wife and kids helps me keep sane (& makes me happy ofc). But I plan it thoroughly and I make sure that it's within my budget, including expenses for food & miscellaneous.
    And knowing how banks have recently made their interest rates much higher, you'd be more miserable after that quick getaway!

  • @dtrain-uwu
    @dtrain-uwu 5 місяців тому +30

    Damn. I won't even take debt to buy taco bell and people are putting on debt for vacations? WTF

  • @douglasrau5094
    @douglasrau5094 5 місяців тому +5

    It sounds like the 2020s are becoming like the 1920s--Americans partying on credit like the party will never end. Reminder, everyone--the party ended and the resulting hangover was the worst ever.

    • @doujinflip
      @doujinflip 5 місяців тому

      Although that hangover was worsened by tariff reciprocations and the gold standard, which compelled people to hoard money exactly when the economy needs it spent.
      At least fiat currency provides the option to make a controlled devaluation and get money moving again without the invasive conquests for additional gold that resolved previous "panics".

  • @georgec.wilkerson
    @georgec.wilkerson 5 місяців тому +15

    If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you…prevent inflation

    • @marysakawa4628
      @marysakawa4628 5 місяців тому +14

      A wise person must know that in order to build success, they must invest wisely and have the proper knowledge or guidance in the financial market.

    • @eddiet.campbell
      @eddiet.campbell 5 місяців тому +11

      I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks..

    • @idowunoah
      @idowunoah 5 місяців тому +12

      I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.

    • @natashanile907
      @natashanile907 5 місяців тому +11

      Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people

    • @William.Mancini
      @William.Mancini 5 місяців тому +10

      *Obviously talking about successful investment, I know I am blessed if not I wouldn't have met someone who is as spectacular as mrs ava Kimberly*

  • @Truth-of-the-matter
    @Truth-of-the-matter 5 місяців тому +1

    Travel doesn't have to be expensive even if you decide to go abroad. I typically look at cities or countries that are generally cheaper (safe of course) and I'm content booking a modestly nice hotel or airbnb. Having those expensive hotels are nice but generally a waste of money considering your goal is to explore your surroundings. When I travelled in 2022 to Bangkok and Saigon I spent about $2500 for 45 days of travel including everything (airfare, food, lodging, travel insurance) and I was able to enjoy some clean/safe lodgings close to everything. I don't waste money on souvenirs or buying clothes/crap that I don't have room for. Spend your time visiting the local grocery stores and instead of eating out 2 or 3 times a day enjoy that 1 meal out and perhaps some coffee/tea.

  • @thrombolin
    @thrombolin 5 місяців тому +3

    The clinical psychologist compared spending on a vacation to buying a home and then called a vacation an investment. She should stay in her lane and not give financial advice. The concept of a vacation being an investment is absurd. She clearly doesn't understand what the word "investment" means.

  • @GratitudeGriot
    @GratitudeGriot 5 місяців тому +1

    Americans often undervalue neighboring cities. most of us live in driving distance of a major or secondary city in the US. A road trip and airbnb is a great budget-friendly way to travel. there's also so many free and inexpensive things to do from museums, hiking, beaches, lakes, local festivals and other cultural events.

  • @spicybrown3563
    @spicybrown3563 5 місяців тому +3

    How about don't go into debt for a vacation. You don't deserve one until you get your financial situation fixed. If you're already planning on just paying for the minimum, that's already your problem right there. 😅

  • @f.-j.j.5738
    @f.-j.j.5738 5 місяців тому +1

    I chase deals and pay cash well in advance... The only things I'm keeping from the vacation are the memories, no debt. We have a yearly budget and travel is included just like food and clothing.

  • @joefunk76
    @joefunk76 5 місяців тому +11

    Corporations figured out long ago a simple yet powerful characteristic of most Americans: They are willing to enter into deal that is terrible for themselves and great for the corporation so long as the benefit is received immediately and fully but the detriment can be realized over time. 💀

  • @Aubue
    @Aubue 5 місяців тому +1

    Wow, it's eye-opening to see how many people are willing to take on debt for vacations.

  • @OnThatNoteWithPenelope
    @OnThatNoteWithPenelope 5 місяців тому +11

    I don’t know why I like videos that speak about how to manage money but yeah…… I do 😂

  • @marcusfenix9534
    @marcusfenix9534 5 місяців тому

    I went to Italy with my woman for a week back in April. I never liked the idea of seeing so much deducted from my account at once so I put everything on my credit card. Entire trip, which was partly paid in advance, cost me over $6000. Paid off the balance within a couple of months while raising my FICO store. Moves like that are why my score is 813.
    I have found that people are not financially literate and/or fiscally irresponsible.