Have you sat the kids down for The Talk? Not the where-do babies come from, or safe sex, or being respectful of all talk.
I’m talking about the difficult conversation about vacation finances and how much the kids can spend on souvenirs. Sure, it’s vacation and you want to indulge the kids—and yourselves.
But this is a tough economy, and many families still haven’t recovered from loss of income during the pandemic. According to new research from Empower, a leader in financial planning, investing and advice, nearly all Americans (88 percent) say inflation has cooled their summer plans, causing people to save up for longer, plan fewer getaways, or take shorter trips. Nearly a third (31 percent) of Gen Z and 26 percent of millennials are turning to a side gig to save more for their trip….