New research has found that Scottish families are willing to spend 18 per cent more on their holiday this year compared to last year.

ATOL, the holiday protection scheme, determined that a family of four are now set to spend an average of £3,625 on their annual getaway.

The research into holiday spending habits also revealed unexpected holiday costs leave travellers in the red on their return.

A family of four holidaying abroad should set aside an average of £407.40, to cover unexpected costs.

The Herald:

ATOL’s research revealed that half of Scottish holiday makers (49 per cent) struggle with budgeting on holiday. As families relax into their holiday it also seems they relax their purse strings with more than one in ten admitting they don’t keep track of what they are spending and then get a shock when they come to settle the bill at the end of the trip.

The Herald:

Scottish holidaymakers are most likely to get caught out by having to pay for additional food and drink outside of their original booking, and by charges when withdrawing money abroad.

Nearly a fifth of holiday makers have at some point had to pay for replacement accommodation, and a sixth have had to pay for new flights.

The Top 10 unexpected holiday costs are:

  1. Food and drink bills
  2. Charges when withdrawing money
  3. Parking charges
  4. Airport transfers and shuttles
  5. Internet charges 
  6. Airplane food and drink
  7. Excess baggage
  8. Additional car hire costs
  9. Phone roaming charges
  10. Pool / beach towels

The Herald:

Simon Read,  personal finance expert said: “Holidays are a great way to relax and switch off, but this can all be ruined if people overspend abroad. While we know budgeting and finances are not a top holiday priority it is important not to lose control completely. Foreign currency, changing exchange rates and excitable family members can all lead to budgeting confusion when you are away.

“However, by taking simple steps such as checking for ATOL protection or setting a daily allowance, people can manage their budgets better.”

The Herald:

Commenting on the research Andy Cohen, Head of ATOL, said: “Holiday costs can mount up quickly, while you’re enjoying your holiday, making it very easy to overspend. 

“We know many families look to head abroad over Easter, while others will be using some well-earned time off to research and book their summer holiday. So this is a timely reminder that it’s essential consumers look past the price of their trip when booking and check 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.”