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The period from Thanksgiving through the New Year is traditionally one of the busiest times of the year for travel. But with so many financial concerns from inflation, high interest rates, tariffs, the weakening job market, and effects from the government shutdown, this year, Americans are feeling rather gloomy about shelling out for flights and hotels. A recent Bankrate study shows only 21% of Americans say they're planning holiday travel. That's down six percentage points from a year ago. That said, Bankrate's Senior Industry Analyst Ted Rossman is not ready to buy that assessment, just yet. SEE ALSO | Air travel will slow to 'trickle' if shutdown continues until Thanksgiving, DOT says "I take this with a grain of salt. So far, the mood has been worse than reality," Rossman said. Consumer spending has been outpacing expectations about financial concerns. "The actual numbers look pretty good. Spending is good, delinquencies are relatively low. Even if people say they're cutting back, I'm not sure I totally believe it," Rossman said. People may be cutting back in other ways - like driving instead of flying or choosing a cheaper hotel or a cheaper flight. "Some of the advice here would be book early. If you can use rewards points and miles, be flexible, if you can kind of zig when others zag, so many people want to travel on the Wednesday and Sunday of Thanksgiving week. If you can go a few days early, if you can come back a few days late, you can save," Rossman said. Rossman said it's getting late in the game for booking Thanksgiving and even Christmas travel. You can still find some flights and hotels, but get ready to shell out.
