You are here: Home - Saving & Banking - News -

Holiday costs mount ahead of departure, finds Thinkmoney

Written by:
Holidaymakers have already spent a chunk of their holiday budget before they’ve even got on the plane, according to a new survey by budgeting account provider

Nearly 10% of average holiday budget of £920 is spent before people travel. The majority of this extra spending goes on clothes. The survey found that the average sum Brits spent on travel and accommodation for their last holiday was between £601 and £700. However, extras pushed this total up to nearly £1,000 (£920).

The study shows that around half of the £80 the average traveller spends before they set off for their destination goes on new clothing to take with them (£30 to £40). A further £11 to £20 is spent on sun cream and other holiday toiletries, up to £10 is spent on books and entertainment, and the same sum on travel to the ferry or airport.

Once they arrive at their destination, Brits fork out a further £140 on average over the course of their trip. Of this, up to £100 is spent on food and drink and a further £31 to £40 on souvenirs and other holiday purchases.

Unsurprisingly, women were more likely than men to spend money on new clothes to pack for their travels, with the average spent by female respondents totalling between £41 and £50. Meanwhile, men spent between £21 and £30 on a new holiday wardrobe.

Ian Williams, spokesman for thinkmoney, says: “The annual holiday is something we all look forward to, and while it can be a major expense it’s an event that many people feel is essential to their wellbeing. However, this survey suggests that the majority of holidaymakers are spending more than they need to.

“By simply packing what they already have in their wardrobes, on their bookshelves and in their toiletries cabinets, people could save quite a bit of money. And by doing this, they can cut down on the amount of cash they splash before they even reach the airport and put the money towards treating themselves once they arrive.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Shares fit for a prince

As Prince George celebrates his 1st Birthday, Graham Spooner, investment research analyst at The Share Centre, recommends four stocks that...