Party time: 82% of Americans plan a splurge to celebrate COVID vaccination

CHARLOTTE – After nearly a year of being cooped up at home as the COVID-19 pandemic has ravaged the country, Americans are ready to party once they get vaccinated.

So says a new nation-wide survey from Charlotte-based financial firm LendingTree.

A whopping 82% of those surveyed say they plan to “splurge on something” as a means of celebrating getting a vaccine to fight COVID-19. Options include a fancy dinner or a vacation, LendingTree says.

The attitudes are good news for the economy, the company adds: “That eagerness is likely a good sign. Once Americans get back to spending, jobs will be created and the economy can begin to recover from the devastation wrought by the pandemic.”

Millennials are the most likely to binge on something, the survey adds.

And what’s high on the celebration list?

“Grocery delivery and vitamins remain popular, but travel-related luxuries become a priority,” LendingTree says. “First-class flights and upgraded rideshares were the second and fifth most common answers, respectively.”

However, not everyone is in a mood to celebrate.

LendingTree graphic

Among those surveyed 15% say they won’t ever feel financially secure again – and 19% plan no future splurges because they are “terrified” financial losses they have experienced will return.

Nearly twice the number of women (20%) feel insecure than men (11%).

And caution is abundant event among those ready to party. While 30% say they will spend some money immediately another 52% say they are going to wait a while.

Going forward, many Americans remain cauitious about spending with 55% of people saying they are saving money “as much as possible.”

“Hope is an incredibly powerful thing, and the fact that it’s beginning to rise after the year we’ve all just been through is unquestionably a good thing,” said LendingTree’s Chief Credit Analyst, Matt Schulz. “However, that doesn’t change the fact that the economy is still a mess and millions of Americans simply can’t afford a splurge of any kind right now.”

The survey was conducted before Christmas.