Holidaymakers ‘set to blow budgets’

More than two in three holidaymakers are set to blow their travel money budgets while abroad this summer, according to a survey.

And some could exceed their planned spending by as much as 76 per cent, the poll by Post Office Travel Money Card found.

Based on responses from 1,775 people, the survey showed that 69 per cent will spend more than they intend while on a foreign break this summer.

The average set aside for spending money on breaks away is £459, with some exceeding this by around £350.

As many as 35 per cent of those surveyed said they overspend because they do not set themselves realistic targets, while 22 per cent admitted to never looking at the prices when making purchases.

A total of 35 per cent of women said they lost track of spending once they got “into 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.

Holidaymakers from East Anglia are the worst at budgeting, with 76 per cent admitting they spend more than planned on holiday. Those in the West Midlands are the most careful with their cash, with 39 per cent saying they will stick to their budgets

Post Office Travel Money card head Az Alibhai said: “It’s not surprising that travellers to the eurozone this summer may spend more than hoped.

“A weakened pound means holi-daymakers will receive 10 per cent fewer euros than this time last year. Whatever the destination country, doing some research on the cost of holiday staples such as food, drink and entertainment in their chosen resorts will help people to set realistic budgets and stick to them.”