Millennials and Gen Zers are pulling in bigger paychecks, but much of their spending power is fueling short-term purchases like groceries and vacations, not savings.
Having a vacation away from your home isn’t required to rest, while groceries are required to not die. Yes, vacations away from home shouldn’t be a luxury only for the rich, but there’s still a fundamental difference.
The article doesn’t really put travelling in the same category as groceries. It says “Younger Americans’ spending on things like travel and dining out has been outpacing their older peers’ even as the economy slows.” They specifically put travel in ‘luxury’ category. Vacations can simply mean time off. Depending on your contract you can have limited paid days off and even vacations without travel can mean expense (unpaid leave).
Having a vacation away from your home isn’t required to rest, while groceries are required to not die. Yes, vacations away from home shouldn’t be a luxury only for the rich, but there’s still a fundamental difference.
The article doesn’t really put travelling in the same category as groceries. It says “Younger Americans’ spending on things like travel and dining out has been outpacing their older peers’ even as the economy slows.” They specifically put travel in ‘luxury’ category. Vacations can simply mean time off. Depending on your contract you can have limited paid days off and even vacations without travel can mean expense (unpaid leave).