Monday 22nd of November 2010
Brits who find they do not have the finance to fund weekend breaks as a result of mounting debts may decide to start asking individual voluntary arrangement questions in order to balance their books and start enjoying their money again.
According to research by Santander, individuals are anticipating that over the next 12 months they will have to reduce the amount they pay out on weekend getaways by an average of 4.1 per cent as a result of the economic cuts.
The study revealed that individuals have collectively spent £21.5 billion on short trips over the past year, with two-fifths of adults saying they had been on at least on weekend away in the same period - with London proving to be the most popular domestic destination.
Ian Coles, director at Santander Cards, observed that the cost of a getaway can escalate easily, but more people are now able go away for a couple of days thanks to last-minute deals and more flight routes.
Last week, Justin Modray from candidmoney.com said too many people are now suffering debt problems as a result of paying for a lifestyle they could not afford.
By Ashley Littley
