Brits ‘are saving hard for holidays’

If you’ve been squirreling away every last penny in order to afford a really good holiday in the sun this year, then the chances are you’re not alone.

A new study carried out by internet bank smile has revealed that of the people who are putting away savings on a regular basis, 57 per cent said they were doing so for a break abroad.

Only 30 per cent said they were saving the money for the deposit on a house, while 31 per cent said all their spare cash goes towards new clothes.

Indeed, most people should be able to afford a really good break in 2009 if smile’s figures are anything to go by – it states that the average Briton has saved £1,882 over the past 12 months.

Those asked said they intend to increase this by another 35 per cent by the end of the year, hoping for £2,605 in the kitty eventually.

John Barker, head of savings at smile, commented: “Many people are now changing their behaviour and reverting to the ways of previous generations, when saving up for things was the norm.”

Many people may now opt for long haul holidays during 2009 as the prices for flights come down, Sean Tipton of the Association of British Travel Agents recently remarked.

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