Momondo’s international survey, which questioned 29,000 people globally, with 1,013 being Brits, found that only 50% of Brits budget for the total amount they can spend - both on the booking phase and during their holiday.
The poll also found that almost a fifth of Brits never make any budgeting decisions ahead of their holiday, while 14% of Brits just make a budget for transport to and from the destination (e.g. plane or train tickets) and 10% decide on a budget for accommodation.
To be able to afford a vacation, 43% of Brits stated they set money aside regularly to be spent on a holiday. Other ways of saving included selling personal items (10%), paying in instalments (14%) and making regular contributions to a fund shared with friends or family (13%).
In terms of what Brits prefer to save money on whilst on holiday, 27% stated they like to save on plane tickets, while 26% choose to make savings on accommodation.
Other results revealed that 14% try to save on transfers to the destination, 24% save money on evenings out and 23% choose cheaper options for meals and snacks during the holiday.
Image Source: Syda Productions via Shutterstock