Holidaymakers 'likely to overspend'

07/07/2011

By Shane Gladstone

Research shows that more than two in three holidaymakers will exceed their travel money budget while overseas over the summer months.

The poll of 1,775 people by Post Office Travel Money Card found that 69 per cent of respondents will overspend while they are on holiday this year.

Furthermore some Britons abroad would be surpassing their planned spending by up to 76 per cent while on their holidays, according to the research.

Figures show that some people would surpass the average spending pot of £459 by around £350.

When it came to explaining the tendency to overspend, as many as 35% said it was because they were unrealistic about how much they would need.

But for 22 per cent it was a failure to keep their eyes on the cost of things that led to the overspend.

A total of 35 per cent of women said they lost track of spending once they got "in the holiday mood".

On average, holidaymakers spend £200 on clothes for their trips, but 77 per cent said they exceeded this figure by more than £100.