Holidays are 'worth the debt'

Some people from the UK use their credit cards to pay for holidays, putting them in a position where their break puts them into debt, a new survey has revealed.

Consumer website CreditExpert.co.uk found that up to 12 million Britons end up getting into debt when paying for the holiday.

Around a quarter (27 per cent) of people pay for their holiday on credit - either by taking out a loan or using a credit card.

However, the survey revealed that people know that taking a holiday is important, with 18 per cent saying that their break is so vital that it is worth putting off thinking about how they will pay for it.

"Most of us work hard and need a well-earned break, but it's important that we plan ahead and ensure our bank balance can handle the large outgoings that holidays and other expenses entail," added Jim Hodgkins, managing director of the website.

"Keeping a budget for the cost of the vacation as well as day-to-day holiday expenses will help you avoid going into debt."

Earlier this week the Post Office revealed that 48 per cent of holidaymakers admit to overspending when abroad.