Tuesday, August 11, 2009
Category:
Consolidation
According to new research by Sainsbury’s Travel Insurance, 63 percent of British holidaymakers are planning to spend their summer break in the UK.
This equates to 19.8 million people, of whom 19 percent are said to be holidaying in Britain due to financial concerns.
Additional penny-wise activities include opting for cheaper accommodation and taking less spending money whilst away, at 10 percent and 14 percent respectively. Furthermore, Sainsbury’s Travel Insurance claims that 170,000 holidaymakers intend to take a holiday without their partner or children in tow, as their finances can not stretch to this.
The research also shows that money worries are resulting in fewer summer holidays being planned by 8 percent of people, whilst 19 percent are not planning a holiday at all for this reason.
Sainsbury's Travel Insurance Manager, Sam Marrs, commented: "With a significant number of us still intending to get away this summer, holidaymakers are taking a range of measures to reduce their holiday spend, holidaying in the UK instead of abroad being the main one. These holidaymakers must still remember to ensure they have good quality travel insurance though because although they'll have access to the NHS, they could potentially still need cover for lost or stolen possessions, delays and cancellations."
With regard to a geographic divide, it was found that the East Midlands is home to the greatest percentage of holidaymakers who plan to get away this summer. In second place came Yorkshire and Humberside, followed by the South West and the North East.
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Homeowners who are struggling to keep on top of their finances amid the recession, who have multiple repayments to make each month, could consider taking out a secured loan for debt
consolidation. This could be particularly useful for those who are currently juggling several credit cards, store cards or personal loans. One of many finance options available, a secured loan for debt consolidation could be used to tie these debts up into one place, which could reduce total monthly outgoings. However, when taking out a secured loan for debt consolidation, it must be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
