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Brits fund holidays with personal loans
Over a quarter of British holidaymakers fund their summer holidays with borrowed cash a survey has revealed.
The survey, carried out by sunshine.co.uk, claims that 28 per cent of respondents said they borrowed money to fund their holidays with a fifth of these admitting that they would 'rather be in debt' than go without a holiday.
Around a quarter of those surveyed said they had taken out personal loans in order to fund their trip commenting that they preferred to pay for a holiday in instalments and a loan was one way of doing this.
Some holiday makers prefer to pay for their holiday on credit cards and some will borrow money from friends or family.
Chris Brown, co-founder of sunshine.co.uk, said: "The fact that many would rather experience debt than go without a holiday is surprising, but it just proves how important a little respite from the pressures of everyday life can be."
Last week, research from Sainsbury's Finance found that around one in five personal loans are used for home improvements.