As we begin a new year, consider these sobering numbers.
Americans’ household debt has soared to a record high of $14.3 trillion.
Our mortgage debt has hit a new high of nearly $10 trillion.
And at the same time, our consumer borrowing has risen to a whopping $4.1 trillion.
What does all this mean to your travels? It’s entirely possible that at the very moment we’re ready to get back out and travel, we might not have the money needed to support it. This has now created a number of new financial models that are offering to directly finance your travels with so-called easy payments over time.
But you’ve got to read the fine print.
These monthly payments can extend for three years and can often incur huge double digit interest.
So travel and tread carefully when it comes to the real affordability of your trips.