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Many Brits 'hoping to trim holiday costs' in 2017

06 January 2017 08:18

Many Britons are looking to make savings in 2017

Many Britons are looking to make savings in 2017

Many Britons plan to cut down on the costs of their holidays in 2017, as part of their financial resolutions for the New Year.

That is according to new research, which suggests close to a fifth (19%) intend to reduce their holiday costs as they seek to become more savvy with their cash.

This could include shopping around for the best deal or paying close attention to the costs of little extras.

Travel insurance benefits

As Britons return to work after the long Christmas and New Year break, their attentions may well turn to holidays and budget deals.

However, travel insurance is one thing which shouldn't be cut back on in the quest to make holiday savings. That's because it can protect people from things like medical bills overseas and cancelled flights.

Main 2017 priorities

Elsewhere, the study from GoCompare said using money-off vouchers and coupons is top of people's money-saving list this year. Some 48% of the people queried for its study said they intend to use these over the coming 12 months to trim costs.

Using loyalty or cash-back schemes and shopping around for a better deal on car insurance were placed second and third in the list, with 44% and 30% of consumers mentioning them respectively.

Overall, the website said that nine out of ten (88%) people are likely to take some action to save money this year.

Reviewing credit cards

Matt Sanders, one of the site's experts, said: "For many of us, the New Year is a perfect time to reassess our lives, including our financial goals. One simple and achievable resolution is to review the plastic in your wallet.

"Used carefully, credit cards can give you extra flexibility with your spending and help you manage your finances better."