Money News
New research reveals that Britons become fritterers when they arrive on foreign shores. Despite many feeling the financial pinch at home, almost one in three (30%) will fritter away leftover foreign currency whilst abroad, buying items they don't need, simply so they don't have to convert their money back to Sterling.
Overall, 83% of Britons don't plan a budget to stick to whilst on their holiday. Meanwhile, 10% waste money at the airport just to get rid of it rather than converting it when they get home. And 20% go over budget buying duty free.
Interested in understanding Britons' spending habits abroad, American Express Travellers Cheques asked over 2,000 adults how their spending habits change when they are on holiday.
One in five admitted that they'll spend all their cash in a foreign country, just to avoid having to convert it back to Sterling.
Meanwhile, 25% confirmed they will go backwards and forwards withdrawing small amounts of cash several times whilst on holiday.
And perhaps due to the highs they can get on holiday, instead of carefully managing their spending, 45% admitted they'll blow the budget on holiday if they see something they want. Just 17% of holidaymakers say they would keep a tight budget whilst abroad.
02 June 2008 © Moneyextra.com
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