Labor Day weekend marks the close of the summer travel season, and new data shows that American households remained conscious of finding ways to save money even as they pressed ahead with travel and entertainment plans this summer.

Bank of America's summer travel survey found that consumers' desire to travel remained strong and that people focused on getting the most value out of their trips. The findings come as banks that issue large volumes of credit cards — including travel-reward cards — have a direct window into household spending patterns, which is why card-issuer survey data is often watched as a read on consumer behavior.

"People aren't cutting travel out. Instead, they're being intentional about where the money goes," Mary Hines Droesch, head of consumer and small business products and analytics at Bank of America, told FOX Business.

"They'll splurge on the one thing that makes a trip memorable, whether that's a great meal, a well-located hotel, or a unique experience and then scale back elsewhere, like a more affordable flight or skipping premium add-ons, without feeling like they gave up what mattered," Droesch said.

According to Droesch, the Bank of America data showed that shorter "micro-vacations" have given travelers "a reset without the price tag of a longer getaway." About one in five members of Gen Z planned shorter trips this year than in past years. Shorter, closer-to-home trips also tend to involve driving rather than flying, which can make fuel prices a bigger factor in trip budgeting.

Additionally, over half of Americans "planned to stay closer to home, crossing state lines rather than booking a costlier long-haul flight," she added.

Consumers have also engaged in "travel stacking," which Droesch described as "extending a trip already planned around a concert, wedding, or sporting event rather than paying for a separate vacation later." The firm found that nearly one-third of Americans traveling to live events opted to extend the trip to spend more time exploring their destination. The pattern aligns with the broader growth of live-event tourism in recent years, as touring artists and major sporting events have drawn travelers to destination cities.

Rising costs, particularly gas prices, are having a mixed impact this summer, Droesch noted. About 23% of survey respondents planned to reduce the number of trips they take, while 31% said fuel costs had no impact on their plans at all. Rather than skip travel entirely, 22% said they planned to cut back on accommodations to offset higher gas prices.

About one in four Americans, or 22%, who were traveling this summer said they are scaling back spending on lodging accommodations and food to offset their fuel costs, the firm's research revealed.

Among consumers who are not traveling, the top reasons cited for staying home are that they can't afford to travel right now (56%), are holding off on big purchases amid economic uncertainty (25%), and don't like traveling (20%).

Bank of America also found that 61% of Americans were willing to make some sort of financial trade-off to afford travel to a live entertainment event, such as cutting back on dining out (26%), taking on extra work or a side hustle (18%), and using credit cards (18%).

About half of consumers (46%) said they plan to redeem financial rewards this summer, such as credit card rewards, banking loyalty program offers, and similar rewards. Gen Z members are the most likely to do so, at 80%, compared with 60% among millennials, 35% of Gen X, and 19% of baby boomers.

The Bank of America analysis further found that consumers are mindful of financial institutions' benefits and other offerings when planning their travel, such as credit card rewards bonuses above baseline rewards (37%), personalized cash-back deals (30%), enhanced fraud monitoring while traveling (28%), and exclusive offers for travel and premium experiences (26%).