Brits saving up for holidays, says smile.co.uk

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Brits saving up for holidays, says smile.co.uk

Thu 5th Feb 2009

Smile.co.uk has conducted a study of the top savings priorities for people in the UK and discovered that holidays come top of the list.

The online bank, which is part of the Co-operative Group, found that 57 per cent of respondents to its poll are saving up to go on holiday.

Christmas was the second most important saving priority, with 48 per cent of respondents claiming they put money aside for the festive season.

Despite the current financial crisis, saving for 'a rainy day' came in at 5th in the list, below saving up for a new car and new clothes.

John Barker, head of savings at smile.co.uk, said: "The findings show that many people are now changing their behaviour and reverting to the ways of previous generations, when saving up for things was the norm."

Recently, a spokesman for the Association of Independent Tour Operators predicted that holidays would become increasingly important in the worsening economic climate, as they provide a chance for people to forget their financial worries.

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