Five Gen Zs and millennials explained to BI how they pay for travel . Some say they've gone into debt or used "buy now, pay later" services like Affirm for their vacations. A survey found that one in three Americans who planned to travel this summer said they'd be willing to incur debt for it.
Money can't buy happiness — but it can buy a weeklong vacation to the Amalfi Coast. And if you don't have the cash, you can just fake it 'till you make it — or at least put the trip on a credit card and worry about it later. Would you go into debt to fund your dream vacation? More than one in three Americans who said they planned to travel this summer would — either by borrowing money, using credit cards, or a buy now pay later service like Klarna and Affirm — according to an online Bankrate survey of about 2,300 adults in March.
According to the survey, millennials and Gen Z were the most willing to take on debt, with 47% and 42% of them, respectively, saying so. That's a stark comparison to Gen X and boomers, of whom 31% and 22%, respectively, said they're willing to do the same. Why not, when, as one young globetrotter, 24-year-old India Roby, put it, "There's biggest fish to fry," she told Business Insider, pointing to general attitudes about the economy and global conflict.
'Fuck it — we ball.' Family vacations weren't a staple of Roby's childhood, she said. Instead, she recalls growing up "super poor" with a "tumultuous upbringing, especially when it came to finances.
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