Cricket fans may face ‘barmy’ debt issues back home

English cricket fans who have been out in Australia may have had much to celebrate as they watched the team win down under for the first time in 24 years, but the cost of doing so may leave some with a big battle to get debt free.

The exchange rate between the pound and the Australian dollar has been very unfavourable recently, as the Antipodean country’s economy – unlike its cricket team – has been performing much better than England’s.

Such a situation is in contrast on both counts with the situation a few years ago, as co-founder of fans group the Barmy Army Paul Burnham explained to This is Money.

He stated: “It’s become a very expensive place. It’s about $1.5 to the pound and it used to be $3.”

As a result, the trip has now taken over from Barbados as one the most expensive, he stated.

The news provider said those who have followed the team through all five Test matches in the Ashes series may have had to pay as much as £12,000 for the privilege, something that could leave many with a large credit card debt.

And dealing with this may be a challenge for many, who after the fun of the trip will still want to be able to afford to see the team in action back in England next summer.

The cost of travelling overseas has also been felt by Britons visiting the eurozone in the past couple of years.

Last October, Sainsbury’s Finance noted many people increased the cost of this overseas spending by withdrawing cash abroad with their credit cards, incurring extra charges for doing so.

A total of £3.87 billion was taken from foreign ATMs in the year to September 2010.