Bright Grey insurance highlights "financial holiday hangover" issue

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Bright Grey insurance highlights "financial holiday hangover" issue

Mon 12th Jul 2010

Research from Bright Grey - part of Royal London, a specialist financial service provider - has revealed that Britons are burdening themselves with extra debt in order to take summer holidays.

The study found that 32 per cent - or more than ten million adults in the UK - find themselves in the red for the sake of some sun and sand, borrowing in total more than £12 billion to fund vacations.

When asked as to why borrow cash for trips, 13 per cent replied that they had to have annual holidays, regardless of their actual monetary situations.

Proposition director at Bright Grey Roger Edwards noted that people need to ensure they do not find themselves facing "a financial holiday hangover" when they get home.

This comes after the body helped to raise over £22,000 for Macmillan Cancer Support and Leukaemia & Lymphoma Research in just one weekend, with activities including skydives and half marathons.

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