Tourists ‘run out of holiday cash’

last minute holidays

holidaymakers run out of cashIf you're planning a family holiday this summer, have you thought about how much money you'll spend while you're away?

Most holidaymakers run out of cash after just five days abroad, new research suggests.

According to the poll by Teletext Holidays, Brits take an average of £620 spending money when they go abroad.

But they often don't budget for the extra costs involved in overseas trips, such as meals out, day trips and souvenir shopping. This leaves many people relying on credit cards to get them through the last days of their holiday.

One in 10 people said they borrowed money from family and friends, while others headed to the bank to withdraw cash. But two in 10 admitted they had been forced to return home early because they ran out of money.

Almost half of the 2,750 holidaymakers said their trips were more expensive than they expected.

And according to the study, holidaymakers spend an average of two and a half months paying off the cost of their holiday after returning home.

So doing a bit of research before you go abroad could help you to plan ahead for the extra costs.

Victoria Saunders, managing director of Teletext Holidays, said: "It's important that people look at the total cost of their holiday at the time of booking, and consider what's included and what's not, if they want to avoid a big credit card bill to welcome them home."

Did you know you can save money when taking out holiday cash? Our guide could help you save £60 when you exchange currency.