Americans spent more on trips, "dinners to restaurants and other gatherings as the country reopened this summer.Many women worry about spending the next vacation as the season approaches.
About 38% of women are worried about spending the holidays, according to a Ellevest " Survey on financial well-being. While the additional expenses of the 'Summer can add to stress, the biggest problem is the lingering effects of the pandemic.
"The pandemic has affected women disproportionately, " said Sallie Krawcheck, CEO of 'Ellevest, explaining how the crisis has only widened the gender gaps for investment, savings and debt.
And with vacation prices expected increase up to 20% this year, according to "Salesforce , women can risk getting into debt without a plan.
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About 33% of U.S. Consumers The Seas racked up debt during the 2020 holiday season, according to " MagnifyMoney , the average borrower raising $ 1,381.
More half of borrowers used credit cards to finance their purchases, and nearly 90% said they would not pay off their balances within a month.
However, October is the perfect time to recalibrate and plan a moreproactive vacation spending, Krawcheck said.
"It gives us the opportunity to catch our breath, take stock and prepare for what can be a year end quite expensive, "she said.
Those worried about vacation spending should set first spending priorities, Krawcheck said.
For example, someone may be eager to visit family if they missed the opportunity last year.
"The important thing is to make sure that you are clear on your goals and that you get ranked " said Krawcheck, suggesting a written list of must-haves.
While budgeting for vacation spending can help women meet their year-end financial goals, some may still have bad feelings about spending.
One-third of women often feel guilty about "spending too much money " after a big purchase, survey shows, and these attitudes can affect confidence in money.
"Make sure that you allow yourself to use the money in a way that is convenient for you," Krawcheck said. .
On Survey shows that the way to reduce financial stress is to talk openly about money with partners, friends and family.
Although 'a third of women avoid conversations about money, those who do open feel more supported and informed.
Financi al bien-être
Although women consider financial well-being to be less important than mental health, physicalical and spiritual, financial stress often spills over into other areas of life, according to the survey.
Almost half of women say their mental and emotional well-being has suffered financial stress, and almost the same percentage reported more money anxiety as the pandemic began.
"We tend not to prioritize well-being financial and it corrodes everything else, "Krawcheck said.
Ellevest worked with Censuswide to conduct the survey Sept. 23-29, among 2,026 Americans aged 18 to 69 .