GRAND RAPIDS, Mich. (WOOD) — Tuesday is National Plan for Vacation Day, which serves as a reminder to take time to utilize your time off this year.
Citing the U.S. Travel Association, Pure Michigan in a release said the average American has four days of unused vacation time at the end of each year.
The Pew Research Center found that 46% of U.S. workers don’t use up their paid time off. It reports that 52% of salaried workers don’t use all of their PTO, compared to 39% of hourly workers; 54% of managers don’t use all that time, compared to 42% of nonmanagers.
The study found that 48% of women said they don’t take all of their PTO because they feel bad about their co-workers taking on more work, compared to 39% of men. Twenty-one percent of Black workers take less PTO than offered because they are worried about losing their jobs, compared to 13% of white workers.
National Plan for Vacation Day, celebrated on the last Tuesday of January each year, encourages Americans to plan ahead for the year to take advantage of their vacation time.
No matter where you’d like to travel to or how you want to get there, it is important to have a plan in place in order to make sure the vacation is a memorable one. That’s why Lake Trust Credit Union has released a few helpful tips to make sure your vacation plans go off without a hitch.
One of the big issues when planning a trip is of course making sure you have the funds for it.
The first step is deciding where you are traveling to and for how long. Once that’s established, you can then begin figuring out how much you need to save for it. Starting a dedicated travel fund is a great way to make sure you have the proper funds saved.
But the other side of saving money for a vacation is being realistic with your budgeting. You’ll want to make sure that you can budget for the trip without sacrificing your day-to-day spending and that you won’t have to save money for years and years for the trip itself.
Booking a trip early is also a great way to avoid paying extra for travel and accommodations. Even if you book just a few weeks early, you can save hundreds of dollars on flights, hotels and more.