People spend an average of $1,979 annually on summer vacations - here are 4 ways to save money on your next trip
- Americans report spending an average of $1,979 on summer vacations.
- Depending on which parts of the country you live in, you may be more likely to spend more or less - both the West and East coasts reported spending more on getaways than Midwesterners did.
- 48% of people won't take a summer vacation, and most of those people report it's due to not being able to afford it.
- However, there are a few ways to save money on your next trip.
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Everyone knows that summer vacations can cost you. Between airfare, hotel accommodations, spending money, and other added expenses, you could easily spend thousands on your annual getaway.
According to a study by Bankrate, the average amount Americans spend per year on summer vacations is $1,979.
The average amount of money people spend on summer vacations varies by geographical region. Respondents from Western states like California and Washington reported that they expected to spend an average of $2,265 on their vacations. People in the Northeast also expected to pay more than $2,000 on their trip expenses.
Midwesterners expected to pay the least on their summer vacations. They reported budgeting $1,607 for their summer vacation.
Costs may be preventing people across the nation from actually taking their summer vacations, however - just 52% of Americans said are planning to take a summer vacation. Of those who responded to Bankrate's survey saying that they weren't planning to travel, 26% said they explicitly weren't planning any summer travel, while 22% said they were still deciding whether they wanted to or not.
The most popular reason (60%) people said they weren't planning a summer vacation was because they couldn't afford it.
If you're worried about the costs associated with your next summer vacation, unsure of whether you can afford to get away, or simply want to know some tips and tricks to save on travel, we've got you covered.
Here are 4 ways to save on your next vacation:
1. Make a budget and stick to it
2. Book your trip well in advance
3. Start a savings account or "vacation fund"
4. Book your flights strategically
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