A new report has highlighted the extent to which British consumers tend to overspend when they go away on holiday.
According to figures compiled by National Savings & Investments (NS&I), almost two-thirds of people overspend to some degree while on holiday and for many this can result in debt problems back in the UK.
In fact, one-fifth of the respondents to NS&I’s recent survey said they do not check their financial situation before setting off on holiday and almost one-quarter admitted they are often alarmed at the money problems they have on their return.
A statement from the firm behind the research read: "This tendency for Brits to bury their heads in the financial sand is concerning, especially given the importance people put on their foreign breaks."
Last week, the Axa insurance firm reported that an increasing number of families from "middle Britain" are facing debt management and money problems as 2008 goes on.