Travel or debt? Bankrate study highlights Americans' vacation dilemma

A new Bankrate survey finds just 46% of U.S. adults plan to travel this summer. Among those skipping a trip, 65% say it’s simply too expensive — with rising everyday costs cutting into vacation budgets.

Another 29% of those who are traveling expect to take on debt to fund their getaway.

Cost-Saving Tips for Summer Travel

CBS News contributor Ted Rossman, a senior industry analyst at Bankrate, says while travel growth is slowing, many Americans still plan to go somewhere. If you’re hoping to save:

1. Use rewards points or travel miles
2. Be flexible with your dates and destinations
3. Set up price alerts with travel apps
4. Consider a staycation to explore your local area

'I think that can actually be really fun,' Rossman said. 'Playing tourist in your local area, relaxing, recharging, spending time with family and friends.'

Among Americans who say they can’t afford to travel, 68% blame the rising cost of everyday life.