UK holidaymakers ‘struggling to shake off financial concerns’ during breaks, study finds

While many people look forward to breaks as a chance to unwind, financial anxiety continues to shadow holidaymakers for days or even throughout their entire trip, according to new research.

A survey commissioned by the app thinkmoney revealed that only 27 per cent of travellers who experience money concerns manage to switch off straight away. By the end of their first day away, this figure creeps up to 38 per cent.

However, it typically takes up to three days for the majority of people carrying financial stress to finally leave their worries behind.

By that point, just over half (53 per cent) report that they have successfully managed to relax.

Conversely, more than two-fifths (42 per cent) said they spend most of their getaway trying to switch off, or never fully manage to disconnect at all.

Regional differences were also highlighted in the study. Holidaymakers from the West Midlands are notably unlikely to overcome their money anxieties after the first day, with 66 per cent of those concerned unable to shake off their stress by this stage.

They are followed closely by travellers from the East Midlands and London, where 65 per cent experience the same issue.

By contrast, people from Wales were particularly likely to say they had put their money worries aside by the end of the first day of their holiday. More than half (56 per cent) of people from Wales with money concerns said they are still worrying after day one of their holiday.

People from some parts of the UK were particularly likely to say they could not shake off their financial worries completely while on holiday.

Nearly half (48 per cent) of financially worried holidaymakers from Scotland said they either take most of their holiday to switch off or never fully manage it. They were closely followed by holidaymakers from Yorkshire and the Humber (47 per cent), according to the research.

More than 2,000 people across the UK were surveyed in June.

The holiday switching off analysis was based on more than 1,000 people in the survey who said they experience money worries while on holiday and provided a definite timeframe for how long it takes them to switch off.

Vix Leyton, a consumer expert at thinkmoney, said: “You can’t put your money worries on airplane mode.

“For some people, the first few days of a holiday are still being spent mentally adding up what they’ve spent, checking whether there’s enough left for the rest of the trip and thinking about the bills waiting at home.”

To help leave money worries at home, Ms Leyton suggested setting a holiday budget, checking which household bills are due to be paid during the trip, and checking banking apps to help prevent overspending while on holiday.