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Travelers are changing holiday plans to save money. Tell us how you’re traveling this year

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Travelers are changing holiday plans to save money. Tell us how you’re traveling this year

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More than four in five — or 83% — of holiday travelers in the U.S. are adjusting their vacation plans to save money, according to a recent survey from Bankrate.

Bankrate Senior Credit Card Analyst Ted Rossman said the issue lies with the “cumulative effect” of inflation.

“Multiple years of paying more for everything from housing to food, gas and discretionary items has eroded savings and increased debt,” Rossman said. “And prices are still rising, they’re just rising more slowly.”

This October, prices were 2.6% higher than the year prior, according to the U.S. Bureau of Labor Statistics’ latest Consumer Price Index.  That figure is also up by 0.2% — from 2.4% — in September.

What are some ways holiday travelers are changing their plans year, according to Bankrate?

One way that travelers are looking to save money is by shortening their trips, with 32% of respondents indicating plans to do so in the financial website’s Oct. 21 survey.

The survey also found 28% of travelers are opting to drive instead of fly — and 23% are flying instead of driving.

Plus, 32% of respondents said they’re choosing less expensive accommodations and 25% are picking cheaper activities.

Despite some travelers’ plans to cut costs, 17% of the survey’s respondents indicated inflation has not changed their holiday travels.

To read Bankrate’s full survey, click here.

How are Wisconsinites traveling for the holidays this year?

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