Not surprisingly (without passing judgment), it appears that Gen Z is prioritizing leisure and enjoyment over work, particularly during this upcoming summer season.
According to a recent study by Empower, a reputable organization specializing in financial planning, investing, and advice, 21% of Gen Z individuals said they plan to go on a “soul-searching” trip, 20% plan to travel internationally, and 24% planning a romantic getaway, all with the aim of self-discovery and rejuvenation.
Forget wanting to be like our older siblings; we want what Gen Z has! Interestingly, the survey found that 41% of Americans have decided not to travel this summer, with 20% attributing it to financial limitations (24% among women and 15% among men) and inflation. As a result, longer saving periods and reduced travel or shorter trips have become the norm.
How is Gen Z paying for these trips?
To fund their summer travels, Gen Z is cutting down on hair/nail appointments (24%) and ending streaming subscriptions (18%). Around one-third of Gen Zers and 26% of Millennials are taking up side gigs to save extra for their adventures.
How can I save for a trip in this economy?
To fund vacations, the study found that 30% of Americans who are traveling this summer emphasize the importance of planning ahead and creating a monthly budget. Saving doesn’t have to be hard. Follow these 4 easy ways to save and practically travel for free.
by travelers, for travelers.
