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Holidaymakers `cutting back on holidays to stay out of debt`
Almost four in ten (38%) of British citizens are trying to spend less money on their holidays, according to a report from insolvency trade body R3.
Of these, more than half (56%) have decided to stay in the UK in order to save money.
`Sun seekers` taking on debt to pay for holiday
According to figures from insolvency trade body R3, more than two million holidaymakers have taken on (on average) £1,000 of debt each to pay for their summer getaway, and will spend seven months repaying that debt, the Telegraph reports.
Scottish `sun seekers` are most likely to take on debt for this reason - 12% say they either already had borrowed or planned to borrow money to pay for their holiday this summer. Holidaymakers in the North West, Yorkshire and Humberside and the West Midlands are the least likely to take on debt to pay for their travels, at just 3%.
Young people feeling strain of debt in Wales
Debt worries affect the 18-34 age group more than any other age group, according to a report from Consumer Focus Wales.
Looking into the financial wellbeing of people in Wales, Consumer Focus Wales found that 29% of people in this age group reported falling behind on bills or missing credit repayments at some point in the last 12 months.
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