Will you Overspend on Your Holiday? Sacramento Bee
/PRNewswire/ --British holidaymakers run out of cash exactly four days and eight hours into their week-long summer holiday according to a study conducted by Gocompare.com .
The study of 2,000 holidaymakers shows that by day four of their seven day break, holidaymakers have spent all of the £422.79 they budgeted for the week. They then go on to spend a further £115 over the remainder of the holiday - averaging just under forty pounds each day, compared to more than £100 each day at the start of their break.
Jeremy Cryer, head of travel insurance at Gocompare.com, which conducted the research, said: "Going on holiday is an expensive business, and as this survey shows, when people land on foreign soil, it is as if all common sense disappears.
"Despite setting realistic budgets for the week before jetting off, a large number of people then seem to go mad on holiday and overspend on food, drinks and excursions. Most Brits would think it crazy to spend over £500 during the course of one week at home, but for some reason, when on holiday this seems perfectly acceptable. It is only when people get home that the reality sinks in, and they have to pay the consequences."
