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Why Americans feel so guilty spending money on their vacation

The fintech company OppLoans just released a new study showing that almost half of Americans feel guilty about the money they spent on recent vacations. Forty-three percent of respondents admitted to taking vacations they couldn’t afford, and many suffered high levels of stress over their spending choices during leisure time.

“46% of respondents experienced stress from their spending, with more than half (55%) of them losing sleep because of it,” OppLoans reported. “27% of respondents suffered financial consequences that included excessive credit card debt, loans, missed payments, or being forced to borrow money from family or friends.”

However, some people’s feelings of stress might be disproportionate to what they’re spending, because they’re actually making smart financial decisions on vacation. OppLoans found this varied greatly by region, with vacationers in Midwestern states like Nebraska and Iowa reporting high levels of guilt over money spent on vacation, although the amount spent was actually quite modest.

“New Mexico, New Jersey, and New York topped the list of states with poor spending and disproportionately low levels of guilt,” OppLoans reported. “New Mexico — a state that has one of the highest percentages of delinquent credit card debt in the country — ranked No. 1 for excessive vacation spending.”

West Virginia, another state where the average resident has high credit card debt, reported the most guilt. Utah reported the most stress–although this state’s residents are better than average Americans at managing their money.

So how should people avoid vacation-related financial stress? Plan ahead, create a budget and stay within your means. Vacation is about relaxing, not stressing over unforeseen expenses.