Family or Finances? 70% Say They’d Sacrifice Holiday Visits to Avoid Debt

As families lock in their holiday travel plans this October, many are weighing tradition against their wallets. A new Cardrates.com survey reveals 70% of Americans say they would sacrifice holiday trips to visit family to avoid racking up credit card debt, underscoring how rising costs are reshaping family decisions.

While travel costs have plateaued in recent months, airfare and dining expenses are still rising, according to NerdWallet. At the same time, student loan payments, record-high credit card balances, and tariffs are straining budgets, leaving many households with little room for holiday travel.

The survey results highlight a difficult choice facing families nationwide: stay home and save, or spend for the sake of togetherness? 

Our findings reveal generational variances in planned holiday spending. Often labeled the “experience-first” generation, millennials were the top proponents for holiday travel spending this upcoming season.

Despite the possibility of increased credit card debt, millennials were the most willing to shoulder holiday travel costs, with 34% saying they would prioritize trips over staying home to avoid debt. While millennials were the outliers, the other generations held more steady with their responses:

• Gen Z: 28%
• Gen X: 27%
• Boomers: 27% 

Though student loan debt and higher living costs hang over their finances, the millennial mindset may be driving them to choose memory-making over financial caution when compared with other generations. 

Yet, we can’t ignore how life stage may be influencing millennials’ decision-making. Many millennials are balancing taking care of both young children and aging parents, which may explain their determination to travel despite financial strain.

“Millennials, who are between the ages of 29 and 44, are in a key demographic who both want and need to spend time with family,” said Bobbi Rebell, CFP® and Consumer Finance Expert at CardRates.com. “These are generally the life stages where they are getting married and having kids. At the same time, they are focused on their careers.”

Rebell adds, “At this life stage, there’s also a new appreciation for creating priceless multigenerational memories and for the guidance of the older generation. Spending time with parents not only strengthens family bonds but also allows grandparents to connect with grandchildren, giving parents some much-needed adult time away from the day-to-day.”

Holiday travel has always been about more than logistics for parents; It’s about keeping traditions alive while staying on budget. But this year, the season may bring a delicate balancing act between family and finances.

The survey also found a gender divide: 72% of moms said they would cancel holiday travel to avoid debt, compared with 67% of dads. The results suggest mothers are more likely to take the budget-conscious approach to holiday planning, reflecting the financial decision-making roles women often hold in households.

Our study might hint at a broader story: Parents may be up against a greater challenge, and that’s finding a way to balance holiday cheer with financial constraints going into this season.

Holiday vacations may not have the price tag of yesteryear, but their costs aren’t sitting at cheaper, pre-pandemic levels, either. And where you live could have more say in the matter than you think.

We found key regional differences among our responses for holiday travel budgeting, with splits across all four regions. Interestingly enough, families from the West Coast reported the least willingness to spend on holiday trips than those from other regions.

When asked whether they would skip holiday visits to see family to avoid debt, this is how respondents from each region answered:

• West: 74% would cancel to avoid debt
• Midwest: 72% would cancel to avoid debt
• South: 69% would cancel to avoid debt
• Northeast: 67% would cancel to avoid debt

While the West was most likely to say they would skip holiday travel this year, respondents from the Northeast region showed the most willingness to travel. The divide seems rooted in regional realities: Cost of living, travel distance, and cultural priorities all shape how families approach holiday trips.

In the West, longer travel distances paired with higher living costs make holiday trips more expensive and less appealing. In contrast, the Northeast’s dense metro areas often mean shorter travel, more transportation options, and comparatively lower costs, encouraging more families to make the trip.

Meanwhile, the South and Midwest landed in the middle, probably due to a mix of factors. Lower living costs, cultural emphasis on family gatherings, and shorter travel distances may all explain why people from these regions were more likely to take on debt than those in the West.

Though American families are diverse in their financial dynamics, it seems many households are struggling to balance holiday festivities with current financial constraints this season. 

This survey was conducted in late summer 2025 among 1,000 U.S. adults via an online panel. The sample is unweighted but includes a broad cross-section of respondents by age, gender, household income, and race/ethnicity.

All responses were single-selection, and each question received 1,000 completes. The margin of error is approximately ±3.1% at a 95% confidence level. Crosstabs by demographic group are available upon request. 
For media inquiries, please reach out to catherine@cardrates.com.