Apparently Americans aren’t so into vacation or they just really adhere to that song “Work” by Rihanna. More than 50 percent U.S. workers left some vacation time unused in 2015. As a result the American economy lost out on $223 billion in spending on restaurants, home-improvement projects, hotels and other travel, according to a new study. The survey, which used 5,641 people who work more than 35 hours weekly and get paid time off, found that workers used 16.2 vacation days on average last year, compared with the long-term average of 20.3 days from 1976 to 2000. This all adds up to 658 million vacation days being unused last year. So who is to blame? Your smart phone, but also yourself. Workers also said they skip vacation because they feel that only they can do their job and are afraid of coming back to tons of work. (Related: 12 Ways to Save Big on Your Vacation)
No No FOMO
And we say millennials aren’t financially responsible. Yes, they may not believe in using credit cards, but apparently when they know they are broke, they understand that they should not go out and spend money. A recent GOBankingRates survey revealed that millennials would rather go through the pain of FOMO than be financially strained. In fact, a surprising one-third of millennials said they have never gone out and spent money with friends if they couldn’t afford it. But apparently not all millennials are so strong and they are the same group that has discovered the perks of having a credit card. Nearly 67 percent of survey respondents said they have gone out to spend money with friends — even when they couldn’t afford it with about one-third of millennials (32 percent) who paid for a social event they couldn’t afford saying they used their credit card to pay for it and avoid overdraft charges. (Related: How My FOMO Almost Ruined My Finances)
Dine and Dash
Well millennials may be skipping out on the happy hour or trip because of money, but they are certainly ordering food more than they are cooking according to new data. If you’re anything like me then you consider microwaving rice (and my specialty, Doritos Salad) to be cooking, but apparently I am not alone in this(so please someone tell my mom.) Matt Phillips reports on Quartz that for the first time in history Americans are spending more at bars and restaurants ($54.857 billion) than they are on groceries ($52.503 billion). Well, duh. People look at me weirdly when I drink wine at the grocery store, but I only get some looks when I do that at a bar. A lot of this movement towards dining out or ordering in has to do with the invention of the dining car (it’s an earlier version of those food trucks you see outside your office) in 1872 which would go around to the factories offering meals making the farmers realize bringing in their bag lunch was oh so lame. Something else that contributed is that more women are working meaning more couples have dual earners who both don’t want to cook that night so they order out. And then, of course, millennials who just like to eat out more or eat more with their coworkers. (Related: What 5 Millennials Learned From Working Abroad)
That Levo member and the founder of On Second Thought Maci Peterson has been featured on Inc.’s 11th annual 30 Under 30 list for her innovative app. It gives you the ability to take back texts. The app was first launched in 2014 and currently has over 67,000 users spread across 200 countries worldwide.