Holiday hustling: 10 million Australians are scrimping and skimping to travel
Australians are going to great lengths to ensure they can afford their annual holiday, according to new research by Finder.
A Finder survey of 1,049 respondents revealed half of Australians (50%) – equivalent to 10.5 million people – are paring down their lifestyles in order to afford a trip in the next 12 months.
The research found 27% will sacrifice social activities in order to put the money aside for a vacation, while almost 1 in 5 (18%) are recycling bottles and cans to make extra cash.
Richard Whitten, money expert at Finder, said holidays are a high priority despite the cost of living crisis.
"Aussies love to travel. But taking a trip is a luxury that many can't afford in the current climate without changing their lifestyle.
"The reality is, after rent or your mortgage, electricity, phone, internet, fuel, and grocery bills there's very little left over for jet setting.
"Millions of people are hustling and forgoing fun to afford a break."
Finder's research shows 1 in 6 Australians (16%) are offloading their unwanted possessions including household items and clothing to generate spare cash for travel.
Taking on a second job (14%) and credit card hopping to earn bulk frequent flyer points (11%) round out the top tactics Aussies are using to save for their next holiday.
One in ten (10%) admit they will have to go into debt in order to afford a vacation in the next 12 months.
Whitten said holidays don't have to cost an arm and a leg.
"Knowing how much you need to save starts with choosing your destination and the type of experience you're after – there are plenty of budget-conscious options.
"While a dream getaway might be out of reach, sharing an Airbnb with friends or camping might be more attainable."
Whitten urged wannabe travellers to open up a dedicated 'holiday fund'.
"Whenever you earn or save extra cash – transfer it into a high interest savings account so you save towards your holiday faster.
"Booking well in advance can often save you money. Keep a lookout for travel deals on sale and investigate whether you can use frequent flyer points you may have stashed," Whitten said.
Finder has created the Finder Score as an objective, insights-driven number (powered by human experts) to help make choosing a product easier.
"If your frequent flyer credit card doesn't have a Finder Score of at least a '9' or above, you could probably be getting better bang for your buck."
| What lengths are you going to in order to afford a holiday in the next 12 months? | |
|---|---|
| Sacrificing social activities | 27% |
| Recycling bottles and cans | 18% |
| Selling unwanted households items/clothing | 16% |
| Taken on a second job/started a side hustle | 14% |
| Churning rewards credit cards/accruing rewards points or frequent flyer points | 11% |
| I put it on credit/ went into debt (credit card, loan, etc) | 10% |
| Renting out a spare room | 3% |
| I don't plan on travelling | 22% |
| Nothing, I can afford a holiday already | 28% |
| Source: Finder survey of 1,049 Australians July 2024 |
Methodology
- Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 60,000 respondents.
- Figures in this release are based on 1,049 respondents from July 2024.
- The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics, an SAP company.
- The survey has been running monthly since May 2019.
Check out October's top scoring frequent flyer credit cards.