Holiday changes as travellers reduce their budgets

13/08/2009

Savvy Britons have found a new way to save money in the credit crunch - by cutting their holiday costs.

Research from Santander has revealed that around one in four people will spend less during their holiday this summer, when compared with 2008's trip.

This group is to reduce their outlay by £256 per person per week, according to the report.

Meanwhile, Santander also found that 27 per cent of holidaymakers exceed their holiday budgets after they set them out - and that around 20 per cent do not budget at all.

Callum Gibson, director at Santander Cards, said: "A summer holiday is the one thing that most Britons won't do without but many Britons are consciously looking for ways to reduce the amount they're spending this year.

"As well as reducing their overall holiday expenditure, Britons can make their money go further while they're abroad by always paying in the local currency - to avoid being charged a dynamic currency fee for converting the purchase to sterling - and using a credit card that doesn't charge a fee for converting transactions made in a foreign currency."

Around 84 per cent of Britons are predicted to take a holiday this year.

Tags; Budgeting Advice, Young Family Finances,

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