Almost three million Australians admit to booking holidays they couldn’t afford. A new survey shows one in seven (14%) planned a trip in the past year, despite not having a travel budget to pay for it.
The new Finder study found five per cent of Aussies went into debt to afford the trip, while another four per cent borrowed the funds from family or friends to fund their getaway.
A further five per cent cancelled plans entirely due to a lack of travel budget available for their holiday.
Young Australians were the most likely to book a break they couldn’t afford with 26 per cent of Gen Z admitting to planning a trip without sufficient funds, compared to just two per cent of Baby Boomers saying they have blown their travel budget.
The findings underline the high intent for travel among Aussies, despite the high cost of living. Experts warn that the stress of going into debt to fund your trip may negate the positive benefits of your holiday.
Similar studies show two in three Aussies say rising costs are impacting their travel plans in 2025, while one in four believe they need a six-figure salary to enjoy a stress-free holiday.
Despite these findings, 37 per cent of Australians will still splurge on holidays this year. Savvy holidaymakers say they will scale back plans or seek deals to continue to travel in 2025.
Finder’s Angus Kidman said Australians are blowing their travel budgets for a getaway.
“For many, the lure of a holiday is so strong they’re willing to risk their financial stability just to get away. If you plan smarter and save first, you can still enjoy the trip – minus the financial hangover when you get home,” he said.
