True or false—the average American family will spend over $10,000 on summer vacation this year, all while 91% of U.S. employees continue to report feeling stressed about their finances.
If you answered “True,” you’re most likely gearing up for a big summer spend…and speaking from experience.
Between skyrocketing vacation costs, the persistent sting of inflation, and the looming shadow of back-to-school expenses, summer has transformed from a season of relaxation into one of anxiety, affecting everything from sleep quality to work performance. As a result, a majority of Americans are traveling less than in previous summers or skipping vacations altogether, primarily because of rising living costs.
The good news? The same holistic wellness program that helps employees manage their physical health might be the unexpected lifesaver for your workforce needs to battle summer financial anxiety.
Organizations that provide tailored financial support as part of their wellness programs report a triple win: reduced employee stress, improved company culture, and stronger bottom lines. When workforces feel more financially secure, they bring their full energy to work instead of spending mental bandwidth on money worries.
The Summer Spending Dilemma: Fun vs. Finances
For many employees, summer used to signify freedom, unbridled physical activity, and team camaraderie.
Now, it feels more like a financial obstacle course, where every decision comes with a price tag—and many are running out of steam.
The traditional idea of summer is quickly becoming extinct, but it's not just because of money. 47% of Americans find it even more difficult to disconnect from work and expect judgment for doing so, creating a double bind where they can't afford time off and feel guilty taking it anyway.
In addition, working parents feel a heightened burden this summer as they anticipate higher prices on back-to-school supplies than ever before. For families already stretched thin by summer activities and childcare expenses, this creates an impossible choice between practicing mindfulness and worrying about future expenses.
But perhaps most concerning is how this year’s unique financial pressures have prevented an alarming number of employees from building financial reserves. A majority of workers expect to overspend on basic life expenses this summer, while 67% feel uncertain about sticking to savings plans due to market volatility.
Generational Divide: Who's Spending and Who's Saving
Working parents face a summer spending paradox that would make any wellness program admin's head spin.
In particular, millennial and Gen X parents report they can't afford to take advantage of summer in ways they want, yet they're still opening their wallets for their children's experiences. On top of that, many struggle to afford those experiences and feel financially stretched by childcare expenses during summer break.
But here's what makes these groups unique—they're not just cutting back, they're reshuffling priorities entirely. Nearly half of these parents spend more on their children's summer activities than on themselves, often forgoing personal vacations to ensure kids are occupied during break.
As a result, many parents spend the summer working overtime, sacrificing their own personal and family time, and losing sleep over building back finances, without sufficient workplace support to ease their growing anxiety.
Gen Z: The Experience Economy
Younger members of the workforce operate from a completely different playbook when it comes to summer finances, but are the most in need of education and guidance.
While other generations cut back on activities altogether, Gen Z finds creative compromises. Almost half tend to choose less expensive destinations rather than canceling trips entirely—in other words, they're not giving up experiences, they're just getting more resourceful about how to afford them.
But here's where it gets really interesting: 65% of younger workers say they would consider changing jobs for better vacation policies and summer flexibility. It’s common for these workers to rank life experiences over job and income security, leading many to forgo crucial financial decisions like budgeting and savings account management.
This generational divide creates a unique challenge for employers looking to boost the financial security of workers—how do you create tailored wellness programs that speak to both the "sacrifice everything for the kids" mindset and the "experiences are essential" philosophy?
Tailored Financial Support: Your Summer Stress Solution
Sometimes, managing financial stress in the summertime feels like trying to fill a bucket with a hole in the bottom—no matter how much employees earn, external pressures keep draining their peace of mind.
Pay increases are a small and often improbable solution, but what stressed employees need is the confidence, know-how, and mental clarity to approach summer finances with ease.
Holistic wellness programs that offer dedicated financial support serve as the bridge between financial worry and empowerment. But the most effective initiatives aren’t one-dimensional—they’re multifaceted tools that can seamlessly work together to address different aspects of financial health, such as:
- Financial Education Resources—workshops, webinars, and on-demand learning covering everything from debt management to vacation savings strategies
- Personalized Support—1:1 counseling with financial advisors who understand individual circumstances during any season of the year
- Automated Saving Tools—systems that help employees consistently build and track summer funds
- Structured Budget Assistance—programs promoting smart spending ratios to maintain financial balance year-round
💡 Pro Tip: Timing matters more than you might think when it comes to money management. Aligning financial-heavy wellness programs with traditionally stressful periods like summer vacation planning helps employees budget effectively rather than scrambling at the last minute.
Finding Balance Between Summer Dreams and Financial Reality
The influx of financial anxiety that comes with summer reveals a fundamental truth about modern workplaces—financial stress doesn't take a vacation.
While different generations approach summer spending with varying philosophies, the underlying issue remains consistent. Financial anxiety affects employee wellbeing year-round, not just during vacation season.
But the solution isn't telling employees to spend less or save more. It's providing them with the tools and support they need to make informed financial decisions that align with their personal values and circumstances.
Looking to help your workforce balance seasonal spending with long-term financial health? Our wellness experts can work with you to design programs that address your employees' real-world challenges while supporting your organization's retention and engagement goals.
