Millennial Money: Young adults traveling on fiscal thin ice

KIFI

Published April 18, 2023 5:00 AM

By SAM KEMMIS of NerdWallet

Travel prices are high and young Americans remain eager to vacation. Yet looming economic and personal finance trends point to trouble ahead. Millennials and Generation Z are racking up credit card debt and falling behind on payments, and many are turning to “buy now, pay later” plans to fund travel. Student loan payments, long deferred after the pandemic, could resume this year, further draining young Americans’ wallets as the economy weakens. Travelers who choose to save up for their trips, rather than defer payments, are more likely to weather the storm.

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