Brits eyeing-up summer sun already

Even though many Brits are still experiencing a post-Christmas financial hangover, 8.7 million UK adults have already booked a holiday.

Research by Direct Line revealed that millions of Brits are taking advantage of the January sales for flights and hotels, as well as clothing and home furnishings.

Of those who have made plans for their main holiday for 2012 already, 20 per cent have confirmed bookings, while another one in five is deciding between the best deals.

Nevertheless, many people across the UK have decided to forgo the annual holiday in order to use the money on more pressing expenses.

Some 27 per cent of adults in the UK are giving up their main holiday this year, but there are some regional fluctuations.

For instance, only 20 per cent of Londoners are willing to give up their annual holiday for a bit of extra cash, but almost half of people in Wales are giving up a main break away.

"Whether you're taking advantage of January sales to book your holiday now, or just scouring the web for deals later on, be sure to book your travel insurance as soon as you book any of your travel arrangements. That way, you'll be covered for cancellation should you be unable to travel for an unexpected reason, and you won't have to hunt around for a deal at the last minute," said Tom Bishop, head of travel insurance at Direct Line.

He added that getting a 12-month deal is also a great idea for anyone planning on going away more than once this year as it can be cheaper than two separate policies.

Candidmoney.com suggested that this year will be even tighter for some Brits as pay freezes continue and real wages fall.

However, Justin Modray, spokesman for the firm, said that the low interest rates are easing the pain somewhat by keeping mortgage payments down.

Moneyextra.com recommends you take independent financial advice before acting on any article

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2012-02-02 13:37:29 © Moneyextra.com