This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Carefree Brits Refuse To Scrimp On Holidays

LONDON, February 25, 2013 /PRNewswire/ --

Research shows almost 2/3 of holidays cost more than you budget for

In these dark economic times, it seems that there is one aspect of British life we are not prepared to compromise on, and that is our annual holiday.  As the UK is eagerly looking at great holiday deals for 2013 such as these from Lowcostholidays.com, research from the money-saving and voucher code site Savoo shows that over 65% of British holiday makers will come home having spent far more than they had budgeted for.

Almost a quarter of those surveyed claimed they overspent by a staggering 20% and 45% said they just added the extra costs to their credit cards.  With the UK credit debt currently standing at 54.6 billion* it seems for all the UK's belt tightening, we can't resist splashing out when we are relaxing in sunnier climates.

Why are we so bad at budgeting?  It appears the main extravagance when we are on holiday stems from alcohol with 47% of respondents saying that after a few drinks they just didn't care and embraced the holiday spirit.  The good news, however, is that we seem to be responsible when paying the money back with almost a quarter of UK holiday makers paying off their debt as soon as they get home.

Simon Bird, General Manager of Savoo, commented, "The best way to stay on budget on a holiday is to get a great deal in the first place and, right now with the market so competitive, there are some real bargains to be had.  By doing that it gives you the freedom to spend a bit more and treat yourself when the mood takes you."

Brits also seem not to care about getting themselves in financial hot water when on holiday as 72% of people said they didn't care about the debt and that the memories of a great holiday were worth it.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,109.23 +57.50 0.34%
S&P 500 1,981.34 +7.71 0.39%
NASDAQ 4,449.5580 +24.8540 0.56%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs