Right? Sort of. Naturally, if you’ve saved for months for a blissful work-free break, you’ll feel entitled to live a little and splurge on something you’ve spent the previous nine months denying yourself. But having that holiday mentality can lead to excess spending, which is great at the time but returning home with less in your account than you imagined will put you in an unhappy post- vacation mood.
According to research from HSBC UK which surveyed more than 2,000 people in June, the average holidaymaker spends £250 more on “extras” during a one-week getaway than when they are at home. Unsurprisingly, dining out, live events, clothes and transport are among the items people are more inclined to splash out on. Additionally, the research indicated that people do not like talking about spending splurges with more than half (57%) of people said they never disclose how much they have spent on holiday.
And consumers are choosing to spend more on holidays and entertainment — according to TSB analysis of customers’ shopping habits, spending on both increased in the first half of 2024 compared with the same period in 2023. TSB analysed more than 425 million debit card transactions between January 1 and June 30 and compared them with the same period in 2023. The bank recorded a 9.
2% increase in the total value of spending with airline and travel companies. “Our holiday mentality which encourages us to spend much more than we would at home is down to three main facto.