Brits plan holidays despite mounting debt levels
Brits plan holidays despite mounting debt levels
Thursday 25th September 2008
In a survey conducted by Abbey, it was revealed that the average Briton going away to escape the cold weather is planning to spend nearly £550.
Of this sum an average of £195 will be paid for by credit card debt.
Among the most popular destinations were areas that are costly to travel to such as Latin America, Africa and Asia, as well as more affordable locations in Europe.
The findings come at a time when soaring living costs and higher repayments on mortgage debt are squeezing household budgets - suggesting that many of the holidaymakers will be stretching themselves financially to afford their trip.
Consumers who are struggling with their financial situation are urged to approach debt management companies for specialist advice on potential solutions such as consolidation loans and debt management plans (DMPs).
Let Debt1 help solve your debt problems
Related News
Debt-hit consumers turn to pawnbrokers - 24/09/08
More and more debt-hit Britons are being forced to pawn their possessions as their finances come under increasing strain, it has been revealed
More and more debt-hit Britons are being forced to pawn their possessions as their finances come under increasing strain, it has been revealed
Debt-hit motorists resort to car sharing - 22/09/08
Pressure on people's finances has led more consumers to consider car sharing, a new survey has shown, as they wrestle with the higher cost of living and increased repayments on their debt
Pressure on people's finances has led more consumers to consider car sharing, a new survey has shown, as they wrestle with the higher cost of living and increased repayments on their debt
UK consumer debt up 30% - 18/09/08
More and more Britons are becoming concerned over whether their pension income will be sufficient to live on when they retire, a study has shown
More and more Britons are becoming concerned over whether their pension income will be sufficient to live on when they retire, a study has shown
UK unemployment up 80,000 - 18/09/08
UK unemployment rose again between May and July, official figures have shown, prompting fresh fears that consumer debt problems could be set to spiral this year
UK unemployment rose again between May and July, official figures have shown, prompting fresh fears that consumer debt problems could be set to spiral this year
Inflation hits 4.7% - 16/09/08
The cost of living continued to rise during August, new figures have shown, increasing the likelihood that more Britons could fall into problem debt
The cost of living continued to rise during August, new figures have shown, increasing the likelihood that more Britons could fall into problem debt
