Holiday budgets `hit by debt management efforts`

A renewed focus on debt management and careful spending is reducing the amount Brits have to spend on holiday, according to figures from Tesco Personal Finance.

The financial services provider reveals that more than a third (34 per cent) of holidaymakers are looking to spend less this summer than on previous breaks.

And 14 per cent of travellers` debt management efforts could be hit if they go over their budget, as that proportion claims to have no spare cash to meet any extra costs.

One in three holidaymakers plan to take cereal and tea bags with them in an attempt to save money, Tesco Personal Finance found.

Meanwhile, the same proportion intends to go self-catering and avoid the expense of eating in restaurants while on their break.

However, Tesco recently advised that it is particularly important for people on self-catering trips to ensure they do not spend more during their holiday than they have budgeted for.