RALEIGH, N.C. – New research shows that financial preparation, not just good planning, is the key to enjoying group trips without the money stress.
Approximately 54% of U.S. adults have taken a group trip in the past five years with friends or family members not living in their household. Shared travel can be one of the most meaningful social experiences Americans make time for, a new survey from CIT Bank, conducted by Harris Poll in May 2026 among more than 2,000 U.S. adults, finds that financial preparation, or the lack of it shapes whether those trips are remembered fondly or not.
CIT Bank states that the data also points to a clear solution: travelers who budget ahead and build a dedicated savings buffer are better positioned to say yes to group trips without the anxiety of overspending.
“Traveling with a group should feel like a joy, not a financial calculation. What this survey makes clear is that the stress starts long before the trip — in the planning, the social obligations, and the pressure to say yes when your budget says no,” according to Jose Castro, Head of CIT Bank, a Division of First Citizens Bank. “Setting aside money in a travel fund, ideally in a high-yield savings account like CIT Bank Platinum Savings, makes it easy to say yes to a destination wedding, a family reunion, or a special trip with friends.”
A recent survey found that money is a common source of stress on group trips, with 45% of U.S. group travelers reporting financial conflict or discomfort. Younger travelers are especially affected, as 72% of Gen Z and 54% of millennials have experienced money- related issues, and 22% of Gen Z respondents say they have ended a relationship because of financial disagreements during a trip. To avoid awkward conversations, 82% of travelers are willing to pay more than their fair share, a behavior referred to as the “Peace Tax”, including 90% of Gen Z and 86% of millennials, with some millennials spending more than $500 extra just to keep the peace. The survey also found that 41% of travelers have felt pressured into taking a group trip they did not want, while Gen Z and millennials are more likely to overspend due to social pressure, often exceeding their budgets by $500 or more.
Weddings and bachelor or bachelorette parties are among the most expensive group travel events, according to CIT Bank, with 59% of attendees spending more than $1,000 on travel. Additionally, 34% of U.S. adults believe parents should continue covering their children’s travel expenses on family trips, even into adulthood. The findings suggest that planning ahead and saving specifically for group travel can help reduce financial stress and prevent money-related conflicts.