Americans' financial worries are messing with their summer vacation plans
It's been years since the prospect of summer fun seemed so shaky.
Just 42% of Americans are sure they'll be taking a summer vacation this year, the lowest confidence level since 2013, when 40% planned on a summertime trip, according to new findings from the travel insurance provider Allianz Global Assistance.
Over half of the people who weren't confident they'd be taking a summer vacation (52%) cited financial reasons - another reminder that many still feel unsteady about their money situation even in a decade-long bull market with very low unemployment.
The financial concerns and crimped summer plans didn't come as a surprise to Jeffrey Pfeffer, a professor at the Stanford Graduate School of Business.
Pfeffer, the author of "Dying for a Paycheck: How Modern Management Harms Employee Health and Company Performance - And What We Can Do About It," said financial worries about vacation come in two forms.
"People are nervous," he said. "Part of this is, 'Do I have the money to go out on vacation?'"
But even those who can afford a trip have worries too, Pfeffer added. Sometimes they're concerned about being perceived as slackers if they take too much time off. They could also fear bosses will see them as expendable if they're away from the office too often.
"People feel there is no tolerance for anything less than 100%, 100% of the time," Pfeffer said. That can spiral into larger worries like, "Will I have a job in five, eight months? What does my career look like? What does my future look like?" Pfeffer said.
A record-breaking number of Americans will be traveling this week, but that doesn't mean they'll be experiencing worry-free vacations.
As this article points out, money fears keep millions awake at night.
And half of Americans aren't taking all their vacation days because they fear the boss will discover the company can survive without them.