When it comes to spending money on fun, a generation gap seems to separate boomers and the slightly younger Generation X.
A new YouGov Plc survey commissioned by Bankrate found that two-thirds of U.S. adults are passing up leisure activities because they’re too expensive.
Overnight vacations lead the pack, but many of the 2,500 respondents also reported skipping less extravagant activities such as dining out and going to the movies.
Gen X is feeling the pinch most acutely, the survey indicates. Forty-seven percent of respondents age 39 to 54 reported not having any money left over to splurge after paying monthly bills.
Meanwhile, boomers seem to be living it up, according to research from AARP.
The study found that boomers are planning the same amount of travel in 2019 as they did in 2015. That’s four to five trips a year, on average.
The AARP study also found that boomers are more likely to spend more on travel this year than they did last year, rather than spending less. Most (52%) will spend the same, but 35% will spend more. The average boomer is expected to spend $6,621 on travel in 2019, according to AARP.