More than half of Americans plan to spend less on travel
NEW YORK – As rising costs continue to weigh on Americans' wallets, a new Bankrate survey found that the majority of U.S. adults (54%) say they are planning to spend less on travel, dining or live entertainment this year, compared with last year. In 2024, 49% planned to spend less than they did in 2023.
Among all U.S. adults, 39% say they plan to spend less on dining out, 39% plan to cut back on live entertainment spending (i.e., concerts, sporting events and theater performances) and 38% intend to decrease their travel spending this year. This includes 26% who plan to spend much less on live entertainment, 24% who plan to spend much less on travel and 20% who plan to spend much less on dining out.
Only 33% are planning to spend more in at least one discretionary spending category this year, with 22% planning to spend more on travel, 19% on dining and 15% on live entertainment.*
'The cumulative effects of inflation and high interest rates have been straining households, contributing to record levels of credit card debt and causing consumer sentiment to plummet,' explained Bankrate senior industry analyst Ted Rossman. 'Despite those challenges, consumer spending has been more robust than anticipated. Many people have been complaining about economic conditions but continuing to spend anyway, including extras such as travel, dining and live entertainment.'
Older generations are more likely to say they plan to cut back on discretionary expenses, compared to younger generations.
Generations Spending less on travel Spending less on live entertainment Spending less on dining out Gen Zers (ages 18-28) 29% 27% 31% Millennials (ages 29-44) 36% 35% 39% Gen Xers (ages 45-60) 39% 42% 43% Baby boomers (ages 61-79) 43% 47% 42%
Lower-income households are also more likely to plan cutbacks on discretionary expenses than higher-income households.
Annual Household Income Spending less on travel Spending less on live entertainment Spending less on dining out Under $50,000 43% 45% 44% Between $50,000 and $79,999 39% 41% 40% Between $80,000 and $99,999 34% 34% 38% $100,000 or more 27% 28% 30%
About one-third of U.S. adults (31%) say they are willing to go into debt for at least one of these three discretionary purchases this year, down from 38% in 2024. This includes 22% willing to take on debt for travel, 11% for dining out and 9% for live entertainment.
Younger generations are more likely to take on debt for at least one of these discretionary expenses, with 39% of Gen Zers and 37% of millennials willing to do so, compared to 31% of Gen Xers and 21% of baby boomers.
Methodology: This survey has been conducted using an online interview administered to members of the YouGov Plc panel of individuals who have agreed to take part in surveys. All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 2,484 U.S. adults. Fieldwork was undertaken between April 2nd-4th, 2025. The survey was carried out online and meets rigorous quality standards. It gathered a non-probability-based sample and employed demographic quotas and weights to better align the survey sample with the broader U.S. population.
*Respondents could say much less, somewhat less, about the same, somewhat more or much more
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