The £48,940 cost of your holidays

Believe it or not, the average Brit takes 54 holidays during their lifetime and spends almost £50,000 in the process. Here's how you can cut costs.

As the age of austerity shows little sign of abating, many of us may be forced to sacrifice our annual two weeks in the sun to make ends meet.

Despite the current financial squeeze, however, research from Sunshine.co.uk has found that the typical person takes 54 holidays during their lifetime – costing a whopping £48,940.

Where exactly does this money go?

Flights and accommodation

When it comes to holidays, there’s no denying that flights and accommodation are among the biggest expenses. According to Sunshine.co.uk’s data, the average person spends £450 on flights and accommodation per holiday.

However, there are ways to cut back on your spending. For example, you could consider flying during the week, rather than on a Saturday or Sunday ­– the weekend is normally the most expensive time to travel.

You could also get a better deal if you fly at an unsociable time when fewer people are willing to travel – as long as you’re willing to get to the airport at three a.m that is.

You could potentially save hundreds of pounds on your hotel bill if you opt for a less popular holiday destination.

Spending money

During a typical holiday, the average Brit will fork out as much as £300 on spending money alone.

The trick is to ensure you don’t spend more than you had budgeted for. Putting all your spending on a prepaid card could help you stick within your spending limit.

With one of these products, you load a certain amount onto the card before leaving the UK, which could be useful for those who struggle with self discipline on vacation. If you do run low on cash, you can always top up the card.

Travel insurance

Buying travel insurance is a wise move before any trip and this type of cover could pay out if your luggage is lost or you need to stay in the hospital.

With the data revealing that the average person spends £16.30 on insurance per trip, many of us are already receiving a pretty competitive deal.

However, you could potentially find cheaper premiums by comparing a range of offers before buying your policy. Likewise, frequent travellers may also save by opting for annual multi-trip insurance, rather than paying for each trip separately.

What you might not have budgeted for…

Of course, the cost of your holiday isn’t confined to the obvious big-ticket items and holidaymakers would be wise to factor in other miscellaneous costs too.

According to the research, we each spend a massive £100 per holiday on clothes and accessories. Likewise, the cost of a transfer between the airport and the hotel is typically £20 per person.

Finally, one of the most hated holiday rip offs is still costing us money as Brits are paying £20 per person for airport parking. Although this might not sound too extortionate, it would total £80 for a family of four.

What else can you get for £48,940?

Now just imagine that you had never been on holiday in your life. How else could you have invested your cash? According to Sunshine.co.uk, this money could also get you:

A holiday home in Spain

A luxury all inclusive round the world cruise

A second hand helicopter

4,078 bottles of Nivea sun cream

A private island in South America

48,900 items from the pound shop (with change)

For more articles like this, check out Five of the craftiest holiday cons and Holiday rip-offs revealed.

**This material is for information purposes only and should not be considered financial advice. We strongly encourage our readers not to rely solely on this content, but to seek independent advice when making financial decisions.**

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