Millennials (born 1981–1996) are the most travel-hungry generation, averaging 35 vacation days per year, followed closely by Gen Z (born 1997–2012) with around 29 days, according to statistics by EarthWeb.
During my 20s, I prioritized collecting passport stamps over earning a salary. Hostels over home ownership. Street food over savings. And while the Instagram stories were fire, the financial hangover? Not so much.
Four maxed-out credit cards later, I’m learning the cost of #Wanderlust the hard way. If you’ve ever swapped financial planning for plane tickets, you might relate. This decade of adventure left me with 10 regrets, but I’m taking eight steps today to clean up the mess and move forward.
Things I Regret About Traveling on Credit in My 20s:
Treating Credit Like Free Money
I was completely convinced I’d “figure it out later.” Spoiler: later came, and it had interest rates. There was a time when my monthly credit card interest charges exceeded $300.
As of late May 2025, the average credit card interest rate in the U.S. is 28.67%, as per Forbes Advisor. When you charge flights and tapas, your debt accumulates quickly.
Ignoring My Student Loans
Out of sight, out of mind, right? Except federal loans don’t forget you exist. The total student loan debt is $1.80 trillion, burdening 42.5 million American borrowers, including me.
Deferring my payments to maintain my travel lifestyle caused my debt balance to grow. Now, my debt surpasses the original amount I borrowed. This situation feels as though I’m paying for two different educations, and one of them includes beach bars.
Never Building an Emergency Fund
I had zero backup plan. My phone broke in Vietnam, and without any savings, I had to borrow money for a replacement. No savings, no cushion, just vibes. Turns out, I wasn’t alone.
Empower research indicates that roughly 37% of Americans would struggle to cover a $400 emergency expense without taking out loans or liquidating assets. Financial advisors suggest saving between three and six months of expenses, while I had just $23. In hindsight, that was reckless, not romantic.
Failing to Track My Spending
The Penny Hoarder reports that 56% of Americans admit they have no idea how much they spent last month, and I was no exception. Honestly, I couldn’t even begin to explain where half my money went.
Was I sleepwalking through souvenir shops abroad? I had no budgeting app, no spreadsheet, no system at all. I entirely neglected to track my expenses, which is a core component of maintaining financial health.
Choosing Destinations Based on Fantasy, Not Finances
Paris in spring? Magical. Also, wildly expensive. I chose dream destinations without considering the living expenses or currency conversion rates. Researching costs beforehand would have saved me a significant amount of expenses.
Using Travel to Avoid My Real Life
It felt like freedom, but sometimes it was just running. I avoided facing my career instability, relationship problems, and my growing debt. Travel became my escape hatch. And like all escapes, it didn’t last.
Not Getting Travel Insurance
A medical emergency during my trip to Thailand resulted in spending two months’ rent. I decided not to buy insurance to save money, but ended up paying twice as much in the end.
Forbes Advisor reports that travel insurance costs usually range from 4% to 6% of your total trip expenses. For example, the insurance fee for a $5,000 trip is approximately $203, but basic coverage starts at $81. This is cheaper than an unexpected emergency room visit.
Overspending to Impress People Online
I booked accommodations beyond my budget purely to capture travel photos. Rented mopeds, posed in front of infinity pools, and ordered overpriced cocktails. I created a lifestyle through my posts that I could never maintain in reality. For likes, not for real joy.
Not Earning While I Traveled
I could’ve freelanced, taught English, or blogged for real income. But I didn’t even try. Travel served as my primary means of escape rather than an opportunity to work remotely.
Even small gigs could’ve softened the landing. Based on data by DemandSage, freelancers earn around $47.71 per hour—a chance I let slip through my fingers.
Putting off Investing Entirely
My friends were investing in 401(k)s and IRAs while I spent my time collecting passport stamps. Commencing early financial investments allows your capital additional time to compound and increase in value.
A single decade of neglected savings can erase tremendous value from your retirement savings. Nothing bothers me as much as these investment mistakes I made.
Things I’m Doing to Recover Now That Reality’s Hit:
Creating a Debt Repayment Plan
I organized my debts by interest rate and began to apply the avalanche method for repayment. The highest interest card gets the most attention.
It’s not glamorous, but it’s progress. With every payment made, I feel like I’m recovering some control over my finances.
Side Hustling With Purpose
Data shows that 36% of American adults engage in side hustles, generating an average monthly income of $530.
I work as a freelancer during evening hours, where I engage in writing and tutoring, as well as other paid opportunities. The additional income I generate goes directly to paying off debt or building up savings.
It actually feels empowering to earn creatively. The experience of watching Netflix now feels rewarding rather than just another routine.
Finally Tracking My Spending
The app I use helps me sort my expenses and identify which areas drain my funds. Spoiler: it’s still takeout. I identify overspending as it happens, so I can make necessary adjustments. Awareness is everything.
Building a Mini Emergency Fund
I’m starting small, aiming for $1,000 first. Just knowing I have a little buffer feels like breathing room. My peace of mind remains intact even when I encounter flat tires or phone malfunctions. And that peace of mind is addictive.
Using Travel Rewards (The Smart Way)
79% of U.S. travelers rely on travel rewards or loyalty programs to make trips more affordable. I joined them. My desire to travel remains strong, but now I approach it with a strategic mindset. Every month, I use points from a low-interest card that I pay off in full.
No more impulse flights. Just intentional, earned adventures.
Learning to Love Slow Living
I no longer search for happiness in new locations; instead, I find fulfillment in my current situation. Morning walks and home-cooked meals deliver happiness to me.
Socializing with friends without spending much money turns out to be unexpectedly satisfying. I’ve realized that peace isn’t something you find somewhere else. It’s something you create in your everyday life.
Setting Financial Goals With Timelines
I have determined my desired destinations for the one-, three-, and five-year marks. It makes the big picture feel doable. Allocating tasks for my funds prevents them from aimlessly drifting. The structure feels surprisingly freeing.
Giving Myself Grace
I utilized the resources available to me during that period to make decisions. Regret doesn’t have to mean shame. I’m learning, growing, and pivoting.
I plan to backpack again someday, but I will prepare a budget and a backup plan in case of any unforeseen circumstances.
KEY TAKEAWAYS
- Wanderlust is magical—until the bill comes due. Traveling to bucket-list destinations by maxing out credit cards may feel justified at the moment, but it ultimately leads to financial trouble through high-interest debt and a lack of savings, which quickly make dreams financially draining.
- Financial glow-ups start with one small step. Recovery doesn’t need to be perfect—it just needs to start, whether it’s tracking spending, building a mini emergency fund, or tackling debt using a method that makes sense.
- You can still travel—just smarter this time. A smart approach to traveling includes utilizing loyalty points, sticking to planned budgets, and choosing low-interest cards that are paid off in full, meaning the adventure doesn’t have to stop. Now, it’s about experiences and sustainability.
- Grace is part of the growth game. Past mistakes don’t define you. You achieve your true glow-up by claiming your story as your own and using it to move forward with purpose without needing passport stamps.
Disclaimer – The Finance Key does not provide and does not intend to provide financial, investment, tax, or legal advice. Information contained in this article is for informational and educational purposes only. This list is solely the author’s opinion based on research and publicly available information. Including links to third-party content is not an endorsement by The Finance Key of such content or services. Please do your due diligence and use your discretion.
How Total Beginners Are Building Wealth Fast in 2025—No Experience Needed
How Total Beginners Are Building Wealth Fast in 2025
I used to think investing was something you did after you were already rich. Like, you needed $10,000 in a suit pocket and a guy named Chad at some fancy firm who knew how to “diversify your portfolio.” Meanwhile, I was just trying to figure out how to stretch $43 to payday.
But a lot has changed. And fast. In 2025, building wealth doesn’t require a finance degree—or even a lot of money. The tools are simpler. The entry points are lower. And believe it or not, total beginners are stacking wins just by starting small and staying consistent.
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