Flight delays, grumpy kids and harsh weather can buzzkill the holidays. Add inflation to the travel equation, and most of us find new ways to visit family or travel abroad, at least according to a new Bankrate survey. More than four in five travelers, or 83%, are changing their holiday travel plans this year to save money, according to the survey. And almost a quarter of respondents are racking up travel expenses on credit cards or through a buy now pay later service.
“Although inflation has come down significantly, it continues to strain holiday travelers in a big way,” says Ted Rossman, Bankrate Senior Industry Analyst. “The cumulative effect is the problem. Multiple years of paying more for everything from housing to food, gas and discretionary items has eroded savings and increased debt. And prices are still rising; they’re just rising more slowly.”
