Some young Canadians are skipping their rent or mortgage payments to pay for their holidays.
A study by Flight Centre found that 61% of young Canadians (18 to 40) “are resolute” in their vacation plans this year, choosing to strategically adjust their finances rather than forgoing trips altogether.
One in 10 Canadians admitted to neglecting their rent or mortgage payments to pay for vacation costs, The Daily Hive reports. Men are nearly twice as likely to try this as women (12% versus 7%).
Although Flight Centre is in the business of selling travel, it also noted that neglecting to pay your mortgage or rent is a risky decision.
“It’s pretty amazing to see just how much people value travel. Sure, skipping out on rent or a mortgage payment to go on a trip isn’t something we’d recommend — it’s pretty risky, after all,” said Chadd Andre, executive vice president of Flight Centre Canada, in a statement. “But, it really highlights a bigger picture: to Gen Z and millennials, travel means a lot.”
Andre recommends booking with a travel advisor as they can find the best deals; presumably while allowing a client to pay their rent.
“Now, more than ever, it’s crucial to have expert advice to secure the absolute best value on all aspects of a vacation, from airfare and accommodation to experiences, car rentals, and insurance,” he said.
The Flight Centre survey revealed that 45% of younger Canadians have plans to go on at least one vacation this year. One in ten (11%) plan to travel three times or more.
The survey found that 42% of Canadians ages 18 to 40 plan on budgeting more carefully than on previous trips. Thirty-nine percent said they’re looking for exclusive deals and discounts, while 36% said they’re choosing budget-friendly accommodations, and 33% said they’re exploring local or domestic destinations to save money.
