Holidays can be an expensive choice
Over a third of Britons admit that they will go on holiday this year even though they can’t afford it, with the large majority claiming that they will use ‘credit cards’ to fund their travels.
www.MyVoucherCodes.co.uk polled 1,919 people aged 18 and over from across the UK and initially asked them Are you planning on going on holiday abroad this year?, to which just under two thirds (64 per cent) answered yes.
The discount website found that 35 per cent of respondents, who admitted planning to holiday this year, said that realistically they could not afford their holiday. Those who claimed that they couldn’t afford to go on their holiday were asked to specify how they were planning to fund their trip.
There is always money out there to be saved, and simply checking around can make an unaffordable holiday much more appealing...
According to the results, the top ways that cash-strapped Britons plan to fund their holiday this year is by using their credit card (31 per cent), borrowing money from friends or a family member (31 per cent), while 17 per cent will dip into their savings, 14 per cent will ask their partner to pay for it and nine per cent will take out a loan to fund their travels.
Mark Pearson, Chairman of MyVoucherCodes.co.uk, said: “With weather like ours, going on holiday is probably one of the things that we Brits look forward the most every year, so I’m not surprised to see that so many people still plan on going away even if they can’t afford it.
"However you’re planning to fund your holiday, you need to make sure that you’re not putting yourself in a difficult financial position and that you can pay the money back."
Furthermore, the respondents were asked to specify what their financial priorities were for 2013 when it came to what they most wanted to dedicate their money to.
Following the results, the top five financial priorities of Britons for 2013 were to pay off debts (63 per cent), to go on holiday (54 per cent), while 38 per cent wanted to save money to buy a house/flat, 26 per cent wanted to sve to buy a new car and 21 per cent plan to use finances to make home improvements.
Mark added: “Planning a holiday can turn out to be incredibly expensive so I would advise to not only plan your holidays as far in advance as possible, but also check out holiday sales and discounts available on things like hotels, flights and transfers.
"There is always money out there to be saved, and simply checking around can make an unaffordable holiday much more appealing to your bank balance.”
For more information visit www.MyVoucherCodes.co.uk
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