Wednesday 16th of February 2011
People already deep in the red and considering posing individual voluntary arrangement questions to improve their financial situation may want to think twice before booking a family holiday during half-term.
This is because new research from Santander Credit Cards has found the average price of such a getaway during this period is 53 per cent - or £1,163 - more expensive than trips abroad during term time.
It was shown households heading off during the break may be forced to shell out on premiums of up to 269 per cent, which is the equivalent of an additional £4,619.
Ian Coles, director at the organisation, said it is inevitable that some price inflation will take place during school holidays, but added: "At a time when the cost of living is rising sharply and many families are still feeling the pinch, it's hard to justify such massive premiums."
Yesterday, managing director at Informed Choice Martin Bamford recommended parents need to start budgeting responsibly in order to raise their children comfortably.
By Chris King
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- Many families 'will struggle with debt' this year
