One-fifth of Brits have no holiday budget: survey

A new survey from Momondo has found that almost one-fifth of Brits don’t budget for their holidays.

The survey of more than 29,000 people worldwide included 1,013 British respondents.

momondo found that only 50% of Brits budget for the total amount they can spend both on the booking phase and during their holiday.

Almost a fifth of Brits surveyed by momondo, at 19%, never make any budgeting decisions ahead of their holiday, while 14% of Brits just make a budget for transport to and from the destination (e.g. plane or train tickets) and 10% decide on a budget for accommodation.

momondo spokesperson Lasse Skole Hansen said: “It’s surprising that so many Brits just don’t save up for their holidays. Globally however, Brits are far from the worst offenders. The Germans, the Swiss and the Scandinavians lead the pack with a third of the population not budgeting for their holidays.”

To be able to afford a vacation, 43% of Brits stated they set money aside regularly to be spent on a holiday.

And 10% sell some of their things, 14% pay in instalments and 13% save up by making regular contributions to a fund shared with friends or family.

In terms of what Brits prefer to save money on whilst on holiday, 27% stated they like to save on plane tickets.

A further 26% choose to make savings on accommodation, 14% on transfers to the destination, 24% save money on evenings out and 23% choose cheaper options for meals and snacks during the holiday.

Though it seems that a fifth of the population don’t penny pinch at all. A total of 20% of Brits questioned don’t worry about how expensive or inexpensive their holiday will be.

Hansen further states: “There are plenty of ways Brits can see the world though, without breaking the bank. We have a resource of useful tips and free money-saving tips tools on momondo, to help users get more travel bang for their buck.”

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