SunTrust Banks recently revealed that 45 percent of Americans save their money for travel, surpassing saving money for emergency savings, retirement, buying a house and buying a car/truck/motorcycle.
The quarterly National Financial Confidence Index surveyed 2,500 adult Americans representing different ages, incomes and geographic regions. Even when the survey results are broken down by generation, traveling is still the No. 1 reason to set money aside, especially for millennials (at 47 percent.
After travel, 37 percent of Americans put money toward emergency savings; 30 percent for retirement; 21 percent save money to buy a house; and 20 percent save money to buy a car, truck and/or motorcycle.