Holidaymakers ‘face financial headache’

While debt management problems increase for consumers across the country, around 44 per cent of Britons set off on holiday without having saved the amount of money they intended.

In addition, more than a fifth of overspending British holidaymakers increase their credit card debt and only worry about the consequences when they return to the UK, the latest figures have shown.

Ross Dalzell, manager for savings at Alliance & Leicester, said: “It’s easy to get carried away with the holiday spirit as we all want to make the most of our time away, however, many holidaymakers run the risk of letting their holiday dreams turn into a potential financial nightmare.”

The personal debt management burden in the UK increases by around £1 million every four minutes, according to figures from Credit Action.