Investigating Factors that Promote Financial Security during Summer Vacations
Investigating Factors thatPromote Financial Security during Summer Vacations
In the follow-up to thefactors that promote financial security during summer vacations, theabove graph is indicating some important facts. The point this graphis making that most Americans worry mainly due to the lack ofpersonal savings that would enable them to accomplish many goals andleisure ambitions one of which is summer vacations. Incredibly, 83%of them have no savings to meet these and other goals, whichsubsequently denies them a sense of financial security during summervacations (Pew 5). The inability to cover all the expenses is anotherissue that may affect their security while contemplating aboutvacations. Additionally, the graph is indicating that the lack ofenough money that would ensure the Americans’ retirement isenjoyable is another major concern. In essence, the first point thatis highlighted by the graph is that the three major factors that maypromote vacations include when Americans have enough money forsavings, retirement, and meeting the bills.
Furthermore, the fact thatmany people do not have the same levels of worries when thinkingabout payment of mortgages, credit card bills, and student loans,imply that the Americans are likely to engage in vacations. As thechart indicates, only 39% worry about mortgage payments while 49% areconcerned when they have not paid student and credit card loans (Pew5). The data used in highlighting this information was derived fromthe respondents sampled by the Pew research center. One thing thisinformation seems to portray is that people worry more about thefuture than present as evidenced by the high number of respondentsthat worried about savings and retirement but ignored the presentbills. While it may not be possible to independently verify thisinformation, the organization that conducted the study is widelyknown for its credibility.
"Americans` FinancialSecurity: Perceptions and Reality". PewTrusts. N.p., 2015.Web. 11 Apr. 2017.
Link to the graph (downloadPDF)
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