Survey: Most U.S. consumers to curb summer spending — except this group
With summer around the corner, consumers are weighing leisure against financial stress.
Roughly two-thirds (65%) of Americans say they will have to choose more budget-friendly activities this summer, according to new survey data from Intuit Credit Karma. More than half (52%) say they will be traveling less than in previous summers or will skip vacations altogether due to financial stress (43%).
To get their travel fix, 56% are choosing more affordable options like camping, visiting national parks, or taking “staycations” instead, a trend especially common among millennials (63%).
[READ MORE: Survey: Travelers to plan more short, local road trips this summer]
The survey revealed that nearly half of respondents (46%) said they are already feeling anxious about affording their summer plans. One-third (34%) said they expect to spend less on non-essentials this summer compared to previous years, primarily due to the rising cost of living (70%), economic uncertainty (46%) and concerns over tariffs (36%).
Despite the spending concerns from consumers at large, younger crowds appear to be less phased by rising prices. Nearly six-in-10 (58%) millennials and nearly half (48%) of Gen Z plan to prioritize experiences over saving money this summer, pointing to travel and vacations (65% of millennials, 52% of Gen Z) and dining out (70% of Gen Z, 58% of millennials) as expenses they plan to spend more on this year than in previous summers.
Roughly half (49%) of Gen Z respondents claim that planning for the future feels “pointless,” so they would rather spend their money freely this summer.
Additional insights from the survey include the following:
- More than a quarter (27%) of Americans have used, or plan to use a payment plan or a “buy now, pay later” service in order to afford a summer purchase, activity or event, rising to 45% of Gen Z and 38% of millennials.
- A large majority of Gen Z buy now, pay later users (77%) say that the payment system has encouraged them to spend more than they can afford, with 59% seeing their credit scores decline as a result of missing payments.
- More than one-third (42%) of Americans who expect to take on debt say that number could range anywhere north of $1,000 to $4,000, which is also the case for 40% of Gen Z.
“The pressure to make the most of summer can often lead to justifying overspending, even if it’s not in your best interest long-term,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma. “The best approach is to make plans that bring you joy, but only if they won’t add financial stress. If you’re going to spend the whole experience worrying about how to pay for it, it’s likely not worth it. Take time now to review your financial situation and decide what’s within your means. Advanced planning is the best way to make sure you stick to a budget while still filling the calendar with fun summer activities that won’t cause financial regret.”
Credit Karma’s survey was conducted online within the United States by Qualtrics between May 13-18, 2025, among 1,015 adults ages 18 and older.
