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Holidaymakers 'spend £200 more per week on holiday'
We might be coming to the end of the summer holiday season, but it could be a good idea to start financially planning for your next holiday, according to the latest research from Halifax.
Halifax asked holidaymakers to compare their typical weekly spending at home with their expenses when on holiday - and found that respondents spend an average of £209.56 more for every week that they're away.
Unsurprisingly, it seems that many people's outgoings significantly increase when they're on holiday. 77% of people spend more on dining out at restaurants when on holiday and 68% of UK tourists spend more on leisure activities, compared with only 7% who spend more on these things back at home.
Furthermore, more than half of people (58%) find going to pubs, clubs and bars while on holiday leaves a bigger dent in their bank balances, compared with 11% who spend more on these activities at home.
A spokesperson for the IVA Advisory Centre commented: "The cost of going on a well-deserved break can be steep for many people - which means there's no time like the present to begin financially planning for next year's holiday. Coming back from a holiday to mounting debts could certainly be a glum return to reality, so budgeting now and putting some money aside could really pay off - and help you steer clear of financial worries."
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