A survey of 2,000 people found that cash-strapped workers start saving around December for their summer holiday, stashing cash away for just over six months before going on a summer break.
Once on holiday, one-in-10 cash-savvy holidaymakers “pinch” bread, croissants and various food items like cheese and salami from the hotel buffet so they don’t have to fork out for lunch.
One-third of those polled also said they bought drinks from local supermarkets rather than splash out hotel of bar prices.
The survey, by ATOL, the UK’s holiday financial protection scheme, found that the average Briton spends up to eight weeks’ wages on a two-week holiday for the family.
That includes getting to the destination, hotels and other accommodation and spending on food, drink, gifts and fun-parks while away.
Despite splashing the cash, the research found 11 per cent of those polled went with ‘whichever holiday firm’ was cheapest without checking if the trip was ATOL-protected.
The survey also found that 60 per cent of those quizzed said they didn’t take out travel insurance.
Among the top tips to save cash on holiday including snapping up drinks from local supermarkets, taking public transport instead of hiring a car or taking a taxi, taking your own food on the planes and flying at anti-social hours.
Simon Read, personal finance expert, said: “People love to go on holiday and spend a little bit extra to ensure that they go to the right place and have a good time.
“However, there are some things that are worth spending the cash on and some which will simply pour their hard-earned money down the drain.
“While fancy dinners out and paying for sun beds each day are enjoyable luxuries it is vital to not do so at the expense of some of the more fundamental holiday necessities.
“Purchasing adequate travel insurance and checking for ATOL protection will ensure that consumers are covered while on holiday.”
TOP 10 MONEY-SAVING TIPS
1. Buy drinks from the local supermarket
2. Take public transport on holiday
3. Switch off data on their phones
4. Do not pay for priority seating on the plane
5. Take their own food for the plane
6. Fly at anti-social hours
7. Take hand luggage only
8. Take their own snacks from home
9. Share bedrooms
10. Use a towel rather than pay for a sunbed
Andy Cohen, Head of ATOL, said: “Consumers are spending a lot of their annual salary on holidays and nearly a third of people agree that their holiday is the most important thing that they save for each year.
“Furthermore, almost a quarter of people admit they sacrifice home comforts throughout the year to guarantee a holiday abroad.
“With holidays being such a big expenditure for UK consumers we are urging people protect the money they spend in booking their next trip, by looking past the price when booking and checking for ATOL protection.
“This will protect the money they have spent on flights and hotels, and ensure they don’t end up paying more in the end should their travel company collapse.”