Most Britons use a savings account in order to splash out on an annual holiday, Abbey has revealed.
Britons are set to use their savings to spend extra on a luxury European holiday this summer, Abbey has claimed.
Despite the financial pressures exerted by the ongoing credit crunch, the savings account provider found that the average amount currently spent on trips abroad comes close to £1,650. This equates to over £137 being saved each month, or around ten per cent of the average UK disposable income.
Accordingly, 62 per cent of people polled by the firm said that they could only afford their annual a holiday through using a savings account; by way of comparison, just 23 per cent said that they could afford to pay out for their overseas holiday through their monthly salary alone. A further 15 per cent also said that they used their credit card to book the trip.
Reza Attar-Zadeh, director of savings and investments at Abbey, commented: "Putting away £137 each month to pay for the average summer holiday is no small task, but there's nothing more satisfying than saving towards a goal."
The study also found that the most popular overseas holiday destination among Britons remains continental Europe, with around 26 per cent of travellers planning a trip to these countries.
Compare savings accounts via money.co.uk
