How is inflation changing your holiday plans?
According to a new Bankrate study, 83% of Americans are changing holiday plans due to inflation. 32% decided to travel for fewer days to save money.
Bankrate Industry Analyst Ted Rossman says Millennials and Gen Z are the most likely to change their plans to save money.
“Much of that is because they’re less likely to be traveling,” Rossman said. “A lot of times it’s the Gen Zers and Millennials who are going home for the holidays and often bringing their own families in tow, and that can be really expensive. So, and that’s just one more thing on top of childcare and housing and food and other costs. So it’s really people in their 20s and 30s that are most strained by this.”
The average expense to fly for Thanksgiving is $925. It more than $1,100 for Christmas.
