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Summer Vacation Will Cost $2249 This Year

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    Summer Vacation Will Cost $2249 This Year

    Travelers across the United States taking a vacation this summer may be paying a similar amount as they did in 2004. According to the annual Summer Vacation Survey conducted by Myvesta, a nonprofit consumer education organization, the average American plans to spend $2,249 on their summer vacation this year, a small decrease from $2,252 in 2004.

    “While consumer confidence has risen over the past year, that confidence hasn’t translated into a vastly different financial situation for the average American,” said Steve Rhode, president of Myvesta. “Concerns about the future economy and stagnant wage increases have kept those who are taking vacations this year from spending more on their summer trips.”

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    According to the Myvesta survey, of those taking a vacation, 75.1 percent plan to pay for all, or part, of their trip with a credit card. 30.3 percent of those paying with plastic planning to take three or more months to pay off the balance.

    “Using a credit card is a great way to travel safe and keep track of your expenses, just make sure you’re not using borrowed money to finance a vacation you truly can’t afford,” said Rhode. “The best way to stay out of vacation debt is to plan ahead, research your trip, and save in advance for your expenses.”

    People in the Midwest plan to spend the most on their summer getaways in 2005 with an average of $2,510. Northeast residents plan to spend $2,282. Those in the West plan to spend $2,141 and people in the South plan to spend $2,139.

    #2
    Re: Summer Vacation Will Cost $2249 This Year

    We just got back from vacation, took 4 kids and went to Pigeon Forge for 5 nights. We spent approximately $2000. (and the cabin was over $700). That included gifts for 7 nephews and nieces, friends, family, etc. we took them to the aquarium, go cart rides, goofy golfing (everyone made a hole in one!!!) went on a scenic trip (free!) and lots of other stuff. We ate out no more than once a day, (brought food for cabin) and generally had a blast. The cabin had a pool table and a hot tub. Vacation is expensive but I came back so relaxed it was worth it. We spent cash for the whole thing between saving up for the past 7 months and what we could take. No credit cards used. one small step for smith family!

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