Savings Used To Fund Holidays
The Abbey National has found that approximately 61 percent of people going on holiday from the UK have used existing savings account funds to finance the trip.
It is thought that there are a couple of drivers causing this. The first, suggest the Abbey National, is that many families take a regular holiday each year and parents are feeling that they should do what they can to ensure their children still get a holiday. The other aspect considered is that the credit crunch and the stresses that go with it are making people go for a holiday while they still can in order to escape for a while.
An Abbey National representative would be delighted if people could keep some money for savings since it could well be needed in the future and having a financial back up is even more important now credit is harder to get hold of.