Welcome to The Savings Scene by Accrue, your go-to source for data-driven consumer insights on all things saving and spending.

After two years lost to the pandemic, millions splurged on lavish trips as travel restrictions loosened this summer, eager to make up for lost time. Hearing about so many people throwing caution to the wind and booking trips they couldn’t pay for inspired us to dig deeper on consumer travel behavior in anew survey with our partner, Decode_M.

Saving up for travel is not a new concept.

Saving up for vacations and other travel expenses is something that people are already actively doing.

• Over ⅓ are currently saving up for a trip whether or not they already planned a trip
• 82% of those who are currently planning a trip are actively saving up for it
• Most consumers start saving at least 4 months in advance for their trips

There is a gap in current saving methods.

Current ways to save up for travel (i.e. points and miles) are failing consumers. Leaving money in checking and savings accounts makes many people feel vulnerable to incurring debt when they get hit by unexpected fees

• Less than 10% of respondents plan on using points or miles for future trips
• Over 30% of people pay for travel using debit cards, cash, or credit cards
• 45% of Gen Z use debit cards to pay for travel

People are going into debt from vacations.

Younger generations (Gen Z and Millennials) are most likely to go into debt from a vacation.

• 1 in 5 consumers have gone into debt because of a vacation
• 81% of those going into debt from a vacation incurred over $500 worth of debt

Accrue Savings is a brand-embedded savings account that provides a sustainable, credit-free payment option for customers. With Accrue’s savings-oriented experience, customers are empowered to make their purchases on their own terms. Accrue can turn passive shoppers into active buyers, reduce advertising costs for your brand, and help lock in predictable revenue for your business. Want to learn more? Go to https://www.accruesavings.com/business‍

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