Luxuries ditched for summer holidays

Brits are cutting out luxuries so they can keep their summer holiday plans.

As rising prices hit UK budgets, 38 per cent of people are refusing to forego their summer holiday this year – instead they are opting for cut out their luxuries.

Holidaymakers are expecting to spend £773 while on their holidays, in addition to the flights and accommodation.

In order to fund their holidays, spending on a new outfit (22 per cent), special meals out (21 per cent) and an extra nights in the pub (15 per cent) are all being reined in ahead of the main holiday season, research by American Express Travellers Cheques reveals.

Furthermore 13 per cent of people are delaying a major home purchase, such as a TV or sofa, and one in ten people are putting off buying new garden items until after their precious two weeks away.

Kirstie Bayley, vice president of American Express Travellers Cheques, said: “Whilst people are thinking about their spending now, it’s the last thing they want to worry about when they are actually enjoying their break.

"Travellers Cheques can actually help people to budget on a holiday as you can see exactly how much you have left in your wallet and also fix the exchange rate when you purchase.

"They are also insured against loss or theft, giving travellers peace of mind when it comes to their hard-earned money."

Across the UK, those in the north of Scotland are least likely to be feeling the summer pinch. Despite having the highest estimated holiday spend of anywhere in the UK, £1,231, they also have the highest proportion of people who say they will not need to make any sacrifices in order to fund their holiday, (38 per cent).

Those in the south-west will be most frugal, spending an average of £644.