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75% of Americans have done this to pay for a vacation

If you’re like many Americans, a beach vacation won’t just leave you with a sunburn — it will also burn a hole in your wallet.

Nearly three-quarters of Americans have gone into debt to pay for a vacation, according to the results of a recent survey of 1,000 adults from financial planning platform LearnVest. Contributing to this trend is the fact that people do not financially account for vacations — the survey found that 55% of Americans don’t factor these expenses into their annual budgets.

On average, Americans will accrue $1,108 in debt for a vacation, according to the survey. Millennials are far more willing than other generations to go into debt over a trip (49%) than members of Generation X (37%) and baby boomers (18%).

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