UK Money News
14th July 2008
Brits using ready money to fund holiday trips
Britons are shunning loans and credit cards to fund their holidays this year and are instead set to dip into their savings, a new poll has discovered.
Of the 2,300 UK adults surveyed by moneysupermarket.com and its sister site travelsupermarket.com, 69 per cent said they were planning to use money stashed in savings and current accounts to pay for this year's holiday.
Meanwhile, just 11 per cent of the respondents said they were planning to use either a credit card, overdraft or personal loan.
The site claimed that the trend is indicative of a new mood of responsibility among consumers as they face up to the credit crunch.
Kevin Mountford, head of savings at moneysupermarket.com: "It looks as though the credit crunch is making people more responsible when it comes to their money, which is a big silver lining for the current cloudy economic conditions.
"While holidays are important to us all, a little more thought is going into people's planning - with savings being built up to fund them."
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