There should be only one holiday worry

By | Category: Travel rumblings

Credit cardsAs the holiday season begins two pieces of research from financial service companies show that holidaymakers should be a little more canny in the way they handle holiday money.

Caxton FX claim that holidaymakers will – on average – overspend by £210.84 on the summer holiday bills. But is this a surprise to anyone? You get to your destination and see and do things that you hadn’t planned for; that extra souvenir, for example, that might seem enticing at the time but which, when you return home, is the most awful thing you have ever seen. Or that extra drink or a more expensive meal than you had planned. That’s what happens on holidays.

Caxton claims that a quarter of people said their biggest worry was sticking to their budget and 14% said that they were annoyed on returning home to see how much they had overspent.

I think you could argue that this might be due to unrealistic budgeting. It’s a bit like the old saying that the buttered side of toast always lands face down on the floor. So it is with holidays; they always cost more than you expect. Add 10 or 15% more to your budget and there may be fewer moans. Or, as is becoming increasingly popular, book an all-inclusive holiday.

The research from Moneycorp is similar in its vein. Taking a sightseeing tour can be expensive depending on where you go and won’t necessarily include the cost of entry to sights. A sightseeing tour is often the best way to see all the main attractions in a city in one day such as one of those open-topped bus rides but you do it to get an overall view of a destination not because you are going to visit each place you pass on the tour. A better piece of research might have been to see how many places, each tour passed so you can judge if you got your money’s worth.

However you look at research like these two, how you spend, what you spend money on and how much you take or use is up to you. The conclusions are not that the holiday seduces you into spending more than you think, merely that you don’t plan well enough in the first place.

If you have to worry then just worry about enjoying yourself. But if you do enjoy yourself by being a moaner you can always cheer yourself up by reading these two pieces of research!

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