Research by Thomas Cook Foreign Exchange highlights that travellers have little idea about how much spending money they need to take on holiday.

The poll, which questioned more than 12,000 holidaymakers, found that one quarter (28%) of travellers admit to doing little or no research into how much daily costs are in the countries they visit on holiday.

This leaves them with no clear idea as to how much activities such as eating out, excursions and shopping will cost them. The research also found that holidaymakers become confused over local currencies, with nearly one in four (23%) respondents confessed to wasting money by paying more for some goods than they wanted to, simply because they were unsure about the local currency.

Furthermore, nearly half (48%) of respondents could be paying more than they should for their currency when they’re abroad because they’re unaware of credit and debit card charges.

For more information visit www.thomascook.com/money

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