Survey: 46% of holidaymakers exceed budgets
Many people fail to plan properly for their holiday and end up blowing their budget as a result, a poll has found.
Many holidaymakers fail to plan properly for their break and end up overspending as a result.
This is according to a survey from HotVouchers.com, which discovered some 46 per cent of respondents exceed their budgets while on a break.
Forgetting to account for essential elements – which may include travel insurance – was one of the reasons why extra money was needed.
Almost half those quizzed (48 per cent) admitted they find things more expensive once they get to their destination than they were planning for and 39 per cent claimed they just wanted to embrace the holiday spirit and forget all about money worries.
Founder of the website Paula Felstead commented: “Getting through the school holidays and paying for trips away really does stretch families finances, so its surprising that more people dont take simple steps to manage their spending, stay out of debt and get the most from their hard-earned cash.”
She advised planning ahead in order to control costs, as this will allow tourists to completely switch off once they embark upon their break, rather than having to think about their budget.
Some 51 per cent of those quizzed stated they do not contemplate the exchange rate of their chosen spot until they arrive and one-in-seven people had to borrow money while they were away or set up a transfer because they did not have the right funds.
The Foreign and Commonwealth Office recently advised all travellers to remember to take out adequate insurance and suggested a comprehensive policy is the best option.
Groupon’s partnership with Expedia started selling travel discounts late Monday, joining an increasingly crowded market of online companies offering discounts on hotels and tour packages.