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Countries in Mauritania

New research has revealed that British holidaymakers are, on average, out of pocket two days before the end of a seven day holiday.

The research, conducted by Teletext holidays, surveyed 2,750 people and revealed that they have spent seven days’ worth of holiday cash five days into their seven-day break.

According to the study, a large number of people end up putting money on their credit card when they run out of cash.

One third of individuals spend an additional £218.70 on credit cards as the last two days are a struggle.

Victoria Sanders, of Teletext Holidays, said: “It’s important that people look at the total cost of their holiday at the time of booking and consider what’s included and what’s not if they want to avoid a big credit card bill to welcome them home.

70% of respondents said they spend approximately 5 months saving an average of £621.91 before they jet off, but generally this is already spent by the fifth day of the break.

Ms Sanders also commented on the attitude of Brits who overspend on holiday:

“Caution with money often goes out the window the minute people step foot on foreign soil. The attitude seems to be that they will worry about paying the bill when they get back into the UK.”

The same percentage of Britons that run out of money before the end of the holiday also withdraw around £227.83 in cash to cover added expenses, while one in ten holidaymakers will borrow cash from friends or family members that are holidaying with them.

A fifth of Britons have had to abandon their holiday earlier than planned due to a shortage of cash.

Purchasing duty free products at the airport, such as perfume and cigarettes, is one reason why some holidaymakers spend more than anticipated on holiday.

Public transport and buying souvenirs also costs more than people may have originally predicted, causing holiday savings to run out rapidly.

If you plan to use a credit card on holiday this year, make sure you compare the different travel money cards on offer with banks to make sure you receive the cheapest rates.

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