82% of Group Travelers Will Pay a 'Peace Tax' to Avoid Money Arguments, CIT Bank Survey Finds

New research shows that financial preparation — not just good planning — is the key to enjoying group trips without the money stress

RALEIGH, N.C., June 23, 2026 /PRNewswire/ -- More than half of U.S. adults (54%) have taken a group trip in the past five years with friends or family members not living in their household. While 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.

But 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."

The 'Peace Tax' is the price of avoiding money conflicts on group trips

Forty-five percent of group travelers — referring to U.S. adults who have taken a group trip within the past five years with friends or family members not living in their household— have experienced some form of financial conflict or discomfort on a trip, including 72% of Gen Z (ages 18-29) and 54% of Millennial (ages 30-45) group travelers. More than one in five (22%) Gen Z group travelers have even ended a relationship due to money conflicts on a group trip.

Rather than navigate the awkwardness of money disagreements, most group travelers would choose to absorb extra costs. Eighty-two percent say they are willing to pay more than their fair share to avoid financial conflict on a trip — aka the "Peace Tax." That willingness reaches 90% among Gen Z and 86% among Millennials. The actual cost of the Peace Tax can impact budgets; 21% of Millennial travelers will pay over $500 more than their share just to keep the peace.

Group trips can feel like a burden

Group travel isn't always a personal priority. Forty-one percent of group travelers say they felt pressured into a trip they did not want to take — a figure that rises to 56% of Gen Z and 55% of Millennials. Among parents of children under 18, that number reaches 57%, compared to 30% of adults without children.

The source of that pressure varies by generation. Twenty-two percent of Millennial group travelers felt coerced into a family trip with no specific occasion, while 21% of Gen Z identify event-specific travel — concerts, festivals, sporting events — as the trigger.

Specific group travel pain points include:

• Gen Z and Millennials lead the way in group travel and overspending: Gen Z and Millennials are on the move more than any other generation, with 68% of Gen Z and 64% of Millennials reporting a group trip since 2021. 59% of Gen Z and 68% of Millennials have spent over $1,000 on a single group trip in the past five years. However, they are also traveling outside their budget. Eighty percent of Gen Z and 76% of Millennial group travelers report spending beyond their budget due to social pressure, compared to 61% of group travelers total. Thirty percent of Gen Z and 32% of Millennial group travelers overspent by $500 or more on a single trip.
• Wedding bells cause blues for weary travelers: Milestone events like weddings create some of the most significant — and least anticipated — group travel expenses. Among group travelers who have attended a wedding or bachelor/bachelorette party in the past five years, 59% spent more than $1,000 on travel for those events alone. These trips can feel non-negotiable, often happen with limited lead time for saving, and frequently include costs across flights, accommodations, and activities that accumulate faster than guests expect.
• The never-ending bank of Mom and Dad: Family trips introduce a distinct financial dynamic that the survey puts in sharp relief: who pays, and for how long? Thirty-four percent of U.S. adults believe parents should always cover their children's travel costs on family trips — even as those children move into adulthood. Among Gen Z group travelers, that figure rises to 42%.

The solution: savings can take the pressure off group travel before the trip begins

The data validates what many feel but rarely talk about: group travel can be expensive, socially loaded, and stressful, when it should just be fun. Having savings set aside ahead of time for group trips offers real, tangible relief.

CIT Bank is the financially savvy traveler's ally, helping consumers build a dedicated savings buffer for group travel so that social pressure never becomes financial stress. Consistently setting aside money in a high-yield savings account, like Platinum Savings or Savings Connect, is an ideal way to grow a travel fund. This financial cushion allows travelers to fully enjoy their trips and handle unexpected expenses while keeping budgets on track—and their most important relationships secure.

For tips on saving, spending and splitting costs on a group trip, visit https://www.cit.com/cit-bank/learn/articles/group-trip-savings-guide

Methodology

This survey was conducted online within the United States by Harris Poll on behalf of CIT Bank from May 14 to 18, 2026, among 2,067 U.S. adults ages 18 and older. The sample is nationally representative. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.7 percentage points using a 95% confidence level. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact mediarelations@firstcitizens.com.

About CIT Bank

CIT Bank, a division of First Citizens Bank, is an FDIC-insured, top-10 online bank backed by the strength and stability of First Citizens Bank. CIT Bank offers a variety of savings accounts and CDs with competitive rates to help customers grow their savings for group travel and all of life's adventures. To learn more, visit www.CITBank.com.

About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services, including a network of more than 500 branches nationwide and offices in 23 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ:FCNCA) is a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500™. Discover more at First Citizens Bank.

CONTACT: Angela English, angela.english@firstcitizens.com 

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SOURCE CIT Bank