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According to Singh, putting yourfinancial goalson hold for a fun vacation is a horrible decision for your future.
So is it really that bad to prioritize fun over finances?
And can you still travel in your 20s without going broke?
Heres what you oughta know.
Also seenine frugal money habits that are helping Gen Z save money.
Summer Fun vs. At the same time, Gen Z has reported feeling more financial stress than any other generation.
Thats not surprising, considering young people today face a high cost of living and asteep housing market.
So why are people in their 20s choosing vacations over savings?
One answer might be an eagerness to travel after a tough few years.
The influence of social media could be another factor.
Twenty-somethings arent exactly known forsmart financial decisionmaking thats as true today as it has been in the past.
The main difference is that todays financial stressors make saving from a young age even more important than ever.
The True Cost of Vacations
Theres nothing wrong with wanting to have a fun summer.
However, putting off your financial goals can come with long-term consequences.
Neglecting your savings and, worse, taking on more debt to travel means neglecting your future financial freedom.
How To Travel Responsibly
Traveling in your 20s can be a life-changing experience.
You may feel like travel is a worthwhile expense and thats okay.
Its possible to have that experience without putting your financial goals on hold.
If travel is a necessary expense for you, treat it like a necessary expense.
Budget accordingly and make sacrifices in other areas.
Look for good deals, share the cost with your friends and avoidluxury tourist trapswhile youre abroad.
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