Not-so-happy holidays: The dream vacation costs more than double what Brits think it will
The weather outside might be frightful but at least your wallet is looking delightful – or at least, more delightful than it would do if you had opted to fly away on holiday to escape the rain.
British holiday hopefuls might be surprised to learn that their ideal vacation could set them back 145 per cent more than they expected, a study out today has found.
According to the research by Tandem Bank, people think that their dream holiday will cost £662, when, in reality, it will set them back £1,624.50.
Perhaps people are oblivious to the difference in figures because around a quarter (26 per cent) are using credit cards to fund their trip, rather than paying all of the cost upfront, while one in twenty (five per cent) confess that they dip into their overdraft to afford the trip they want.
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Regardless of how people fund their holiday, it's the little things that catch them out, with extra luggage fees topping the list of unexpected charges that people find most annoying.
"Our research shows there is a clear disconnect between what people say they need to spend to have a happy holiday and what they actually spend to get it," said Rowan Adams at Tandem Bank. "Even with the best of intentions, we can get burnt by an unexpected charge or the urge for a shopping spree."
However, some people are willing to sacrifice some of the little luxuries back home to have more of them while they are away. Just less than one in five (18 per cent) say they cut down on socialising and entertaining, while 10 per cent opt to take a packed lunch to work to save some cash.