BASKING RIDGE, N.J.--(BUSINESS WIRE)--The price of a Jersey Shore vacation will cost families 16.6 percent more than last year, according to research from Affinity Federal Credit Union (“Affinity”). For the past year, Affinity has looked at quintessential Jersey Shore summer vacation activities and necessities to track cost changes over time. Affinity, the largest credit union in New Jersey, has over 20 branches across the New Jersey/New York/Connecticut tri-state region and serves over 209,000 members across the U.S.
The research showed double-digit increases across all four tourism-related categories for 2022. Travel, including gas and parking, spiked 31.4%; beach services, such as beach tags, chair and umbrella rentals, surged 18%; food and drink, including coffee, taffy and pizza, are up 10.5%; and leisure activities, including mini golf, amusement park rides, and parasailing, jumped 11.5%. The survey’s full findings, and ways to cope with rising costs, can be found on the Affinity website: www.affinityfcu.com.
“Nothing compares to summertime at the Jersey Shore,” said Jacqui Kearns, Chief Brand, Strategy, and Wellbeing Officer of Affinity. “At Affinity, we are committed to the financial wellbeing of our members, and we recognize the role vacations play in living a healthier and happier life. No doubt, inflation will impact vacationers, but planning ahead for these higher prices allows families to still enjoy the Jersey Shore experience while remaining on budget.”
Affinity supports its members’ financial wellbeing through a range of products and services, including education seminars, credit counseling, financial advising, high yield savings accounts, loans, and rewards programs.
“Inflation shouldn’t totally derail families’ ability to enjoy vacation like they have in the past,” added Kerns. “Financial and emotional wellbeing go hand-in-hand. We are seeing higher prices impacting consumer behavior. However, we also expect consumers will continue to spend money on meaningful traditions and experiences with their families, while maintaining a closer awareness of their spending.”
Affinity’s team of financial specialists suggest families prioritize their top activities and budget items, while shopping around for extras and non-experience based activities, like ice cream or beach chair rentals.
Research was conducted via a May 2022 survey of New Jersey shoretown businesses and compared to products and services surveyed in summer 2021. Businesses or goods included in the research are not endorsed by or members of Affinity Federal Credit Union.
About Affinity Federal Credit Union
Affinity is a full-service financial institution, member owned and community focused, with a mission to nurture your financial wellbeing. With more than 20 branches across the tri-state area, Affinity is the largest credit union headquartered in the state of New Jersey, proudly ranking in the top 2% of all credit unions in terms of asset size1. The Affinity difference is about people helping people on a deeper level and understanding what YOU need to make your unique dreams a reality. For more information, please visit www.affinityfcu.com.
1 Source: NCUA.gov. Using the “Credit Union and Corporate Call Report Data” found here: https://www.ncua.gov/analysis/credit-union-corporate-call-report-data
