Brits ’splash their cash abroad’

Posted 2008-06-1

New research has revealed that Brits become more extravagant with their money when they arrive on foreign shores.

A study conducted by America Express highlights that one in three people will spend left foreign currency for the sake of it, to save having to convert it back to sterling.

Despite the effects of the credit crunch being felt at home, 83 per cent of UK holidaymakers do not stick to their budget, while 20 per cent splash out on duty free items they cannot afford.

The research also shows that Brits are disorganised when it comes to withdrawing their cash abroad, with 25 per cent of respondents making several trips to the cash machine to draw out small amounts, which could see them being charged if they are using a credit card.

It was previously reported that fewer Brits are heading on holiday this year due to the economic uncertainty.

According to the Family Holiday Association, fewer families than last year will be able to afford to take a trip abroad due to other strains on their finances, such as food prices and utility bills.

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