Start planning for your next summer holiday
07 September 2012
Holidaymakers weekly spend increases by £200 when on holiday
As the summer holiday season comes to a close, holidaymakers should start planning for their next summer holiday as soon as they can, as the latest research data from Halifax indicates that there are far more costs to holidaying than transport and accommodation.
The extra cost of holiday spending money
In order to understand holidaymakers' spending habits in the UK and abroad, Halifax asked them to compare their spending on a range of things during a 'normal' week at home versus being on holiday.
Unsurprisingly, the respondents spent more on holiday than at home, to the tune of £209.56 every seven days that they're away. However, a number of holidaymakers also claim to save money on a number of things, such as childcare and buying food to 'eat in', whilst on holiday. On average, respondents calculated that their 'normal' expenditure during a week at home works out at £167.18. This rises to £376.74 during a seven day holiday (excluding the cost of the holiday itself).
Richard Washington, Halifax Credit Cards says:
"When budgeting for a holiday, it's really important to factor in the cost of some holiday 'spending money'. The holidaymakers we spoke to said that while they spend less on things like childcare and household bills while away, they see their expenditure spike on travel, leisure activities and going out. For a two week holiday, this is around £400 more than they'd normally spend at home, and they should take this into account when budgeting.”
"It's absolutely right that people spend time working out the best way to manage their holiday finances - particularly those going abroad - but they shouldn't forget to do the same for their normal day to day spending. With no foreign exchange fees and a simple, straightforward rate, the Clarity Card is a great option not just for holiday but for at home too.'
- 77% of people spend more on eating out at restaurants when on holiday,
- Childcare on holiday is more expensive than at home for just 16% of people. 42% say that they spend the same amount, 43% say it's cheaper.
- 68% of people unsurprisingly spend more on leisure activities when on holiday, compared to only 7% who spend more at home
- 37% of people spend more on taxis and public transport when away, although 18% spend more when they're at home.
- 41% of people say that their expenditure on household bills such as utilities, remains the same irrespective of whether they're at home or on holiday, with 3% claiming their bills at home increase when they're away
- It's more expensive to go to pubs, clubs and bars when on holiday for 58% of holidaymakers, compared to 11% who say they spend more at home
Halifax Clarity Card:
- Introductory rate on balance transfers for customers applying in branch and on the phone
- 2.9% for 16 months with no fee
- A low standard interest rate for all transactions
- Representative 12.9% APR (variable)
- No fees to use the card
- No balance transfer fee
- No cash withdrawal fee
- No foreign exchange fee
- No annual fee