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Brits 'borrowing to enjoy summer holidays'
A number of Brits have chosen to borrow through credit cards or loans to fund their holidays, new research has revealed.
The study by Bright Grey found that 32 per cent of UK adults - which equates to over ten million - are choosing to go into debt in order to enjoy a break away over the summer months.
One in seven people surveyed by the company said they have to take a holiday each year, regardless of their financial situation.
Roger Edwards, proposition director at Bright Grey, suggested that consumers need to be careful to ensure they do not face a "financial holiday hangover" on their return from a break.
He added: "Planning ahead for the future financially can help avoid using expensive emergency measures to cover them for the short-term and also mean that everyone can enjoy the sun without the grey cloud of debt hanging over their heads."
Maria Papadopoulou of Helium.com recently suggested that debt consolidation is one of the top five ways that consumers can reduce the amount of money they owe to creditors.