Does a touring Europe make you a smart spender? Is backpacking an indication of balanced budgeting? Is eco-tourism the hallmark of a socially conscious investor?
What does your dream vacation say about your financial personality? Does a touring Europe make you a smart spender? Is backpacking an indication of balanced budgeting? Is eco-tourism the hallmark of a socially conscious investor? An intriguing post on LearnVest.com acts as your guide.
A Spectrem’s Millionaire Corner survey conducted in April in which affluent investors were asked about their idea of a dream vacation turned up the usual suspects. Half of respondents said a European tour, followed by that all-inclusive resort (43 percent), a cruise (33 percent), an exotic location (20 percent), a visit to family and friends (19 percent) and an eco-tourism adventure.
Age was one factor in determining what comprised a dream vacation, with younger Affluent travelers significantly more interested in that European tour (58 percent), the all-inclusive resort (57 percent) or the exotic location or emerging nation (34 percent), while Baby Boomers and seniors over 60 were most likely to consider a cruise, an educational trip or a visit to family and friends to be their dream vacation.
Marital status, too, was a factor, with married couples opting more for the more traditional European tour, cruise and visit to family and friends and singles choosing more adventurous vacation options such as an exotic locale or emerging nation, an eco-tourism adventure, and a volunteer vacation.
LiveVest mapped out personality profiles based on vacation preferences. Their evaluations:
· Those who travel to Europe with an itinerary and dog-eared guidebooks in hand are likely to be “information hounds” when it comes to their money. “You’re more likely to be on top of your saving and spending. Doing hardcore research into important financial decisions will definitely benefit your bottom line,” the website offers.
· Backpacking indicates an ability to live with only a few essentials on your back, which suggests “the valuable ability to distinguish between what’s a necessity—and what’s simply a fun extra.”\
· Visiting loved ones is an indication you are someone who puts priorities first. “Your family-first approach to money is likely to guarantee you’ll be ablt to pay for a spa day when you need one.”
· Not surprisingly, a penchant for eco-tourism bespeaks the attitude of a socially responsible investor, who puts their money where their values are. Likewise, adventurers who set out to ski the most challenging slopes or climb the highest mountains are goal setters who will be more likely to plan and persevere toward achieving financial milestones such as buying a home.
· And for those whose goal is nothing but to relax on a beach somewhere, that makes you a “savvy saver,…likely to be the slow and steady type” when it comes to saving money, LiveVest offers.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.