Two in five of us will holiday with parents
TWO in five adults will be forced to go away with their parents as rising costs squeeze travel budgets, a survey found.
Among sunseekers aged 35 to 44 – many of whom have children living at home – 58 per cent are planning breaks with their mum and dad.
And one in 14 is planning a trip with their grandparents, said the poll.
More than a quarter of parents who are going away with their grownup children said they are paying some or all of their offspring’s travel expenses, to help them out during the cost-of-living crisis, according to the research.
It also indicates that families plan to spend an average of £2,671 on holidays this year – with Spain, France and Italy among the most popular destinations.
People living in the South East of England will be spending the most this year, at an average cost of £3,051, the survey commissioned by Starling Bank revealed. Households in Wales will be spending the least on holidays, with a proposed average spend of £1,865.
Helen Bierton, Starling’s chief banking officer, said: “Family trips can be expensive, especially when paying for other people.
“So making sure you are smart with your spending can help balance the holiday budgeting.”
Her tips include saving in advance, which would help avoid interest rates on credit cards and overdrafts. Also, banking apps can help – with some having “round-up” features to help people put small amounts of money aside regularly. Setting a budget and getting into the habit of checking currency conversion rates are also good practice, she said. Censuswide carried out the research for Starling Bank, quizzing more than 2,000 people across the UK in March. Families in Yorkshire and the Humber are most likely to be staying in the UK (58 per cent) and plan to spend an average of £2,148 on their trip.
Nearly three in 10 of those surveyed plan to check their spending regularly while away.
But nearly a fifth said they normally blow their budget when on holiday.