Gen Zers are returning home for holidays — parents’ are paying
They’ll be home for Christmas — but it will be on their parent’s dime.
A new study suggests that due to rising inflation, young people will be turning to mom and dad for a potential early gift of a flight, CNBC reported.
A study done by Credit Karma revealed that 41% of Gen Zers will ask their parents or other family members to pay for their holiday travels.
And, according to flight booking app Hopper, airfare during the Christmas holidays is expected to rise to $463 per ticket. Plane tickets are about 31% higher than in 2019 and 39% higher than in 2021.
The report found that parents were spending $1,000 a month in an effort to bring their loved ones home for the holidays.
“If you’re looking for ways to save on your ticket, consider booking travel on less ideal travel days,” Colleen McCreary, consumer financial advocate at Credit Karma, told CNBC.
One way to save, though, is to travel on days like Christmas Eve and Christmas Day, McCreary said, since those dates will most likely have cheaper fairs. She also recommended that traveling to smaller regional airports will have an impact on travel costs.
However, some are opting to spend the holidays solo. One in ten people surveyed by Credit Karma said that they can’t travel back home due to the rising costs and 79% of adults have changed their plans entirely.
“But really the best thing you can do is act fast,” McCreary said. “Don’t wait to buy your airline tickets. Prices will not get better.”
This is not the first time that Gen Z has come under fire.
A recent study found that members of Gen Z don’t actually enjoy seeing each other outside of the office, saying that they try to establish a healthy work-life balance.
“I enjoy my private life and enjoy to not hangout with coworkers when I’m trying to relax and not think about work,” one person told The Post.
Gen Z also caused an uproar after they seemingly canceled the “thumbs up” emoji and nine other emojis for being too “passive aggressive.”