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Are money worries ruining your holiday?

Running out of money, overspending what you have, questions on what your insurance covers… are these holiday worries familiar? Despite the UK spending an average of £1,900 going on holiday, nearly a quarter of us (23%) are returning home more stressed than when we started. But what is causing this worry, and how can you prevent it happening to you?

Before we go on holiday, 34% of us are concerned about being covered if something goes wrong, such as travel insurance, according to the poll by Nationwide Building Society.

While away, money worries dominate, with 29% anxious about having enough money, 24% worrying about overspending on holiday, and 23% nervous about the whereabouts of their money and bank cards.

How long does it take us to relax on holiday?

26% of people take two to three days to truly unwind on holiday, and one in ten (10%) take between three to four days to relax (Source Nationwide Building Society, August 2015)

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Holidays - how to make sure you're enjoying yours

Worrying about money is no way to spend your well-earned break, but it’s arguably a difficult habit to stop.

After all, aren’t we all used to our brains going nineteen to the dozen in our normal day-to-day lives? Switching off is difficult to do, but here’s how to make sure it’s not money troubles getting in the way of a good break.

The first step is to set yourself an amount for your holiday money. List everything you need to spend money on, including travel money, car hire, swimwear, food and drink while away, and entertainment.

Do some research before you go. Do you have children you’d like to look into holiday clubs for? Are you likely to do lots of day trips, or spend your time relaxing by the pool? Looking into what’s around first will make sure you feel more relaxed when you get there, and will stop the costs of your holiday spiralling out of control.

Add these costs together, and you have your savings goal.

It’s also a good idea to sort out your travel money before you go. Generally, you’ll get a better exchange rate and more currency for your money than if you buy it at the airport. Shop around for the best exchange rate as well.

In fact, our research showed only half of UK adults shop around for the best currency exchange rates, with a third (33%) just heading to the local bureau de change and taking whatever is offered.

Travel insurance – what you need to know

There are hundreds of travel insurance options available, and it can be easy to get confused. However, it’s important to know what your key considerations should be, such as level of medical cover and baggage and belongings cover.

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