Despite debt worries, Americans plan to indulge in travel, dining, and entertainment in 2024. Young adults prioritize present enjoyment over future savings, influenced by the pandemic's "you only live once" mindset. This "revenge spending" or "doom spending" results in taking on more debt, with Gen Z and millennials most likely to splurge. However, experts warn that neglecting long-term financial security through saving may have future repercussions.
