Summer is in full gear and for many, that means traveling the country and taking some much-needed time off. But if you’re like many Americans, there’s a good chance you’ll also be taking on some debt in order to take your trip. According to a new survey, 74% of people polled say they’ve gone into debt to pay for a vacation (the average vacation debt is $1,108).
Taking on this sort of debt can have a serious impact on your bottom line and if you take vacations year after year, can ultimately lead to you saving less money for your future. And northwest Indiana financial advisor Greg Hammer offered five tips to avoid this debt, when he was on "Regionally Speaking" on Wednesday.