BLOOMINGTON, Ill., May 18, 2021 /PRNewswire/ — As vaccination rates rise across the country to combat the spread of COVID-19, many Americans are planning a summer filled with travel and entertainment.
According to a new COUNTRY Financial survey more than half (62 percent) of Americans currently feel good or excellent about their financial security, higher than rates measured in 2020 (55 percent) and even before the pandemic (53 percent in 2019). This milestone, mixed with built-up fatigue from a year spent primarily at home, is driving two in three Americans (64%) to make big plans for the summer. Nearly half of Americans (48 percent) are planning to take a vacation in the next six months, and one in ten say they plan to go to a live show, concert or sports event.
While the pandemic has set Americans back in many ways, their newfound sense of financial security has sparked optimism for spending this summer in more ways than one.
“If you have been able to save an adequate amount of funds throughout the course of the past year, you should be in a good position to spend responsibly this summer,” said Troy Frerichs, Vice President of Investment Services at COUNTRY Financial. “It makes sense that people are eager to have some fun after a difficult year. However, it’s always important to be cautious of overspending and to avoid going into debt. Hold yourself to a firm budget and only spend what you can afford.”
Americans Plan for a Season of Spending
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