Thursday, October 1, 2009
Category:
Consolidation
According to research by Tesco Travel Money, 34 percent of Brits planned to reduce their holiday expenditure this year.
For those families that may therefore view British vacations as the most sensible option, Tesco Travel Money have pointed out that Eastern European countries, such as Poland, Hungary and Bulgaria, can offer the best value for money.
Findings revealed that holiday expenses, such as accommodation, for a family of four to spend a week in Bulgaria would work out at £1,038. In contrast, the same family would be looking at an outlay of £1,490 in Brighton of the UK. Nevertheless, the research showed that only 7 percent of Brits were intending to embark upon non-Euro countries this year. Furthermore, 34 percent were found to be planning holidays on their more-expensive homeland.
With regard to the most costly holiday destinations, Tesco Travel Money established these to be Reykavik, Rome, and Nice. It would seem that a family holiday in Reykavik, Iceland, would come at a cost of £2,602 for a week. It was even established that trips to popular countries, such as Span and Greece, would be more expensive than the UK.
A Tesco Travel Money spokesperson commented: "Over the past three years, over a third of Brits have taken last minute holidays and with their budgets stretched even further this year, this trend is set to continue. But those looking for a bargain break would be wise not just to look into the cost of travel but also the expenses they are likely to incur once they are there. There is a stark difference between eating out in Barcelona and Cyprus for example and if families really want to holiday on a shoe string then they need to do their research to really make their money go further."
Tesco Travel Money suggests that holidaymakers could reduce the cost of their holiday currency by shopping around. It was discovered that only 48 percent of people are currently taking this approach, with 26 percent favouring convenience over rates.
………………………………………………………………………………………………......
Homeowners who have used credit cards or personal loans to fund holidays, could consider consolidating these with a
secured loan. A secured loan is one of many finance options and could allow the borrower to tie up existing debts into one place, thus relieving them of multiple monthly repayments. Furthermore, the single monthly repayment could even be lower than current outgoings. However, when considering a secured loan for debt consolidation, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
