TULSA, Okla. — Nearly 94% of Americans spend more money on vacation than they originally planned, and for more than half, that overspending comes with a side of guilt.
Those are the findings of a new survey by TopCashback.com, which polled more than 2,000 U.S. adults ages 18 and older through Prolific, an online research platform.
Elisabella Ricca, personal finance and consumer analyst at TopCashback, said the results reveal a gap between good intentions and real-world spending.
"We conducted a survey to look at people's spending habits on vacation, and we did find that nearly 60% of people did feel guilty at least a little bit after vacation due to their spending," Ricca said.
Even travelers who plan aren't immune.
"Many respondents said that they set a budget beforehand, about 60%, yet they still overspent," Ricca said.
She said the problem may be in how those budgets are built.
"Cause there's one thing to set a budget, but maybe it's a little more stringent than what we're actually gonna spend," Ricca said.
The survey found that the most common amount Americans overspend on vacation falls between $25 and $499, reported by 35% of respondents. Another 27% said they overspend between %100 and $249, while 22% said they go over by $500 to $999. About 8% said they overspend by $1,000 or more.
The financial ripple effects extend beyond the trip itself. Nearly 2 in 3 respondents said they have experienced financial stress or anxiety after returning from vacation. Nearly 1 in 4 said they have opened a new credit card specifically to fund a trip.
Rising travel costs are also changing behavior. About 3 in 4 respondents said higher costs have changed the way they vacation. Of those, more than 82% said they travel less often, and more than half said they spend less while traveling.
Taylor Rebollar lives in Tulsa. She recently returned from a family trip to Gulf Shores, Alabama. Rebollar says she budgets carefully before hitting the road.
"I use Chat GPT a lot to help with my spending to allocate because there's food, there's groceries, because they're bottomless pits, my kids, gas, because we do drive down there," Rebollar said.
She also went over budget on the trip, but used a work bonus to cover the difference rather than adding to credit card debt. She said she also plans fuel stops strategically.
"I'm even pretty stingy about my gas, so I plan where to stop and where I can get discounts on gas because that's a good way to save a little bit of cash," Rebollar said.
The TopCashback survey found the most common strategies travelers use to keep costs in check include comparing prices before purchasing:
- 71% Compare prices before purchasing
- 66% Book flights/hotels in advance
- 59% Set a vacation budget
- 48% Track spending during the trip
- 43% Travel during off-peak times
- 35% Use travel rewards
- 27% Use cash back
Ricca said a little extra research before a trip can go a long way.
"There's so many sites out there these days that compare and, you know, you can stack cashback rewards on credit cards with other cashback, you can use loyalty programs to, you know, even get a free night sometimes at a hotel. You can compare Airbnbs versus hotels. There's really a lot of different ways that if you spend a little bit extra time, you can save hundreds of dollars," Ricca said.
Her bottom line: a realistic spending plan before you leave can protect both your wallet and your memories when you get home.
"Vacations should create memories, not money stress," Ricca said. "Giving yourself a spending plan before you travel can make it easier to enjoy the experience in the moment and avoid feeling guilty about the cost afterward."
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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