Over the last few years, thanks to the recession, the concept of personal debt has been a hot topic. It seems that too many of us are living with debt. Debt and the crisis has affected almost every aspect of our daily lives, forcing many to tighten their belts. However, it turns out that when it comes to our holidays we are still willing to get into debt to pay for them.
A recent survey has found that 36 per cent of Brits will be using a credit card to pay for their holidays this year. The survey was carried out by Voucher Codes Pro, who asked 1,390 adults about their spending habits. When initially asked, 61 per cent said they were planning to go on holiday this summer. Of this number, 57 per cent they would be going abroad. The average stay of one week costs £360 per person plus a further £250 spending money while they were away. The costs of a week in the UK were down to £120 a week, with only £150 spending money.
When asked how they intended to pay for all this, the results were particularly interesting. 57 per cent said they would go into their overdraft, 37 per cent said credit cards and 18 per cent said they would get a loan to cover the costs.
So, it seems like despite all the recent trouble, many of us think it is worth going into debt to pay for a holiday. 44 per cent of those asked felt that it was ‘worth the cost’ and that ‘life was too short’ to worry about money.
George Charles of Voucher Codes Pro said: "Everyone loves a holiday, and with a real up and down summer so far in terms of the weather, it seems that some people are just looking to get guaranteed sunshine. But is that tan worth it?"
It would seem that the Great British Public thinks it is. To get the best deal on your holiday, don’t forget to get the most competitive price on your travel insurance.
Date Created: 26/06/2013