Third of Brits will have holiday debt

According to research, around 32% of British holidaymakers will pay for their trips using either a credit card, travel agent payment plan or through borrowing money from family and friends.

The survey shows that the average person borrows slightly over £1,200 to cover costs associated with their trip. Staggeringly, 58% of those surveyed admitted that they could not afford to begin repaying debts straight away.

The research was conducted by insurer Bright Grey, who also found that 13% of people absolutely must have a holiday every year whether they could afford it or not. The same percentage also stated that they needed to be seen by friends to take a trip away at least once a year.

Although holidays both abroad and locally may seem tempting, it is recommend that you should take one only when you can afford it. With Britain’s economy still suffering from the recession, nobody knows what the future will hold just yet.