Are you jetting off on holiday this summer? It’s likely you’ll be faced with a £974 bill, according to new research by Sainsbury’s Bank Credit Cards. Many people would consider booking the vacation itself as being the most expensive part of the holiday, however the research reveals that it’s just over a third (35 per cent) of the total spend.
On average, UK holidaymakers say they’ll spend £288 (30 per cent of the total spend) on spending money; £96 (10 per cent) will go on buying new clothes; and £58 (6 per cent) getting to and from the airport or train station.
Holidaymakers also say they’ll spend an average of £21 paying for a home-sitter whilst they are away. Those with pets also face extra costs, as the research reveals an average of £32 will be spent on kennels or catteries.
Around 23 per cent of the total holiday spend will be placed on credit cards. A quarter of people using a credit card plan to transfer some of their balance to a 0 per cent interest-free balance transfer card after their holiday, with these people estimating they will transfer over half (54 per cent) of their spend after their summer holiday. This equates to a total of £2 billion that holidaymakers intend to transfer to an interest free balance-transfer cards after their summer break.
Simon Ranson at Sainsbury’s Bank, said: "The true cost of a holiday is much greater than just the upfront cost of booking it in the first place, with lots of add-ons to consider by the time you’re ready to set off. Holidaymakers choosing to use a credit card should carefully consider their options. Some cards may be more cost-effective for overseas spend, some are better for large purchases, like the holiday itself, and others if you’re transferring a balance."
How the holiday spending adds up
- Booking the holiday itself - £342
- Spending money whilst on holiday - £288
- New clothes/accessories to take on holiday - £96
- Getting to and from the airport/train station - £58
- Holiday presents for loved ones - £56
- Pre-holiday grooming (haircut, manicure, fake tan etc) - £47
- Paying to put pets in kennels/catteries - £32
- Parking your car at the airport/train station - £35
- Paying for a home sitter - £21
- TOTAL £974
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