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Holidays 'top of spending priority list'

18 January 2016 08:32

Brits want a holiday more than anything else this year, research suggests

Brits want a holiday more than anything else this year, research suggests

Holidays are still the greatest spending pri ority among Britons, a new survey suggests.

They would still rather spend money on breaks than pay off their debts, according to the VoucherCodes poll of 2,000-plus consumers.

The discount site has been looking at the UK's spending intentions for 2016.

It finds that people will typically save nearly £1,800 to splash out on their holiday or other big-ticket purchases.

Money well spent

Travel insurance obviously costs a fraction of the trip itself. But it is money well spent.

It gives holidaymakers the comfort of knowing that they will be looked after should any unforeseen problems try and spoil their holiday.

Top spending priorities for 2016

More than three in four respondents (76%) plan to spend a big lump sum of money this year, typically spending £1,794.

This is where they intend to put it:

1. Holidays

2. Settling outstanding debts

3. Doing-up their home

4. A new car

5. A new bathroom or kitchen

Optimism 'on the increase'

It seems Britons feel more confident about their finances as 2016 begins than they did 12 months earlier.

Financial optimism has grown from 25% a year ago to 28% today.

Under one in five consumers (19%) admit to being downbeat about their finances for the year ahead.

Over one out of five people (22%) claim they are likely to have extra cash left over to indulge in non-essential goods this year, with the UK economy in better shape.

Roughly one in 11 (9%) consumers say they have started using credit cards in the past 12 months to try and relieve their financial worries.