Your summer vacation is supposed to be a time to relax and recharge. However, if you want to stay relaxed when you return home, make sure that you do more recharging and less charging – with your credit cards.
A new survey from LearnVest.com finds that most Americans will be paying off their summer vacations for an extended period. On average, Americans spend 10% of their annual income on their vacations, and it takes an average of six months to recover from vacation expenses. Among the 74% of respondents who reported going into debt to take their vacation, the vacation debt averaged $1,108. Almost two-thirds of survey respondents said their spending on a week's vacation surpassed their monthly rent or mortgage payment. If you want to reduce your interest payments and lower your debt, try the free
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