Debt stress causes nearly 1 in 3 to shelve vacation plans

AUSTIN, Texas, June 27, 2013 /PRNewswire/ -- Those suffering from debt stress are putting off the thing that may help them unwind -- a vacation. Thirty percent of Americans delayed a getaway in the past 12 months because of debt, a new CreditCardGuide.com poll finds.

The poll, conducted for CreditCardGuide.com by Princeton Survey Research Associates International, surveyed a nationally representative sample of 1,004 American adults by telephone June 6-9, 2013.

The survey focused on plans and purchases consumers delayed over the past year because of debt. Nearly one in four Americans (23 percent) said they delayed buying a car, while 18 percent delayed buying a home. When it comes to growing their families, however, Americans are less likely to wait. Only 7 percent of respondents delayed having kids because of debt, and just 5 percent postponed getting married.

"Debt often forces people to choose between what they want and what they can't do without," says CreditCardGuide.com editor at large Erica Sandberg. "When you're worried about debt, adding to it by taking a vacation or upgrading to a new car can be hard to justify."

The poll also found:

• Mortgage debt was the most worrisome debt, with 19 percent of respondents saying it caused them the most stress in the past year. Student loan debt and credit card debt tied for second place at 14 percent.
• Among those who said credit card debt was their biggest worry, 47 percent delayed a vacation, 28 percent delayed buying a new car, 17 percent delayed buying a home and 15 percent delayed retirement.
• All age groups surveyed worried about some form of debt, but as people age, they replace old worries with new ones. For example, 31 percent of 18-to-29-year-olds say they're most worried about student loan debt, and only 7 percent of them worry about mortgage debt the most. Those numbers flip-flop in the 50-to-64 age bracket: 8 percent are most worried about student debt, while 23 percent worry most about mortgage debt.

About CreditCardGuide.com

CreditCardguide.com is a leading online credit card comparison marketplace, dedicated to providing a free one-stop credit card resource center and links to instant online applications. On its website, www.creditcardguide.com, consumers can find side-by-side comparisons of cards from top banks and card companies that offer competitive rates, benefits and rewards.

SOURCE CreditCardGuide.com