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Travellers failing to check finances on holiday

24 September 2008 12:49

Travellers failing to check finances on holiday

With the prices of general everyday goods going up, it would seem reasonable to think that holidaymakers would be keeping a close eye on their finances. But despite having things like travel insurance to purchase, it has been found that travellers fail to set a budget for spending money when they go abroad.

New research from NS&I has discovered that 61 per cent of holidaymakers admit to overspending on holiday and 34 per cent fail to even set themselves a spending limit.

The urge to just get away is too much for some people, with 20 per cent stating that they didn't even check their financial situation before booking their holiday.

Meanwhile others aren't fully prepared before beginning their trip with eight per cent confessing to overspending because they got confused by the exchange rate.

Dax Harkins, senior savings strategist at NS&I, said: "There is no doubt that holidays and spending while abroad are costing Brits a lot more than many bargain for, but people need to think past simply enjoying themselves and to plan their finances."

And travellers looking to save money on a holiday could also do so by buying travel insurance separately, it has been stated by