UK Holidaymakers Save for Spending Money over Six Month Period
New research from an online independent travel agency has revealed that the average British holidaymaker saves up for their holiday spending money over a period of six months.
bank accountsHolidays abroad are still holding up in popularity in spite of the increased numbers looking to make savings by having a UK-based 'staycation'.
However, the new statistics show that those travelling abroad are planning for their holiday costs up to half a year before jetting off.
The figures showed that on average holidaymakers will take £800 per couple, £1200 per family of four and £500 per person for a foreign holiday lasting a week. When added to the flight and accommodation costs this gives a truer picture of the outlay needed for an overseas break.
The findings also suggest that many people choose to make arrangements well ahead of their trips, allowing them plenty of time to plan financially rather than take advantage of any last minute deals.
However, the survey also found that two thirds of the respondents said they hadn't managed to save as much as they aimed to for their holiday by the time it came to boarding the plane.
As to where the money goes, the biggest overseas holiday expense is food and drink. Excursions and activities account for the second biggest expense, whilst clothes, souvenirs and gifts, and taxis make up the rest of the top five.
The fact that food and drink are at the top of the list goes some way to explaining the continuing appeal of 'all inclusive' deals, which today cover the whole spectrum of holidays from cost-cutting family bargains to high end luxury packages.
Chris Clarkson, co-founder of the company behind the survey, said: “I think if you want a decent trip abroad, you should budget for around £50 per person, per day, as that’s plenty for food, the odd activity and your postcards back home.”
Saving before you go and planning to stick to a budget is a great way to keep holiday costs down, but sometimes plans can go awry as our relaxed ‘holiday mode’ spills over into our finances. Taking a prepaid card ensures you stick to your budget, so that you are not in for a shock when you get home!