Holiday debt lasts months

Nearly 1.5 million people in the UK are still paying for last year's summer holiday, new research shows.

Data gathered by MoneyExpert.com indicates that 1.4 million people are still in debt as a result of their previous summer holiday. A further 926,000 took a year to pay off the cost of 2006's vacation.

On average, people in the UK take around 3.8 months to pay off debt amassed while on holiday, the website suggests.

However, 2.3 million people are able to effectively manage their holiday spending and pay off all related debt within a month of returning home.

"Holidays are a time for getting away from it all but too many of us are just getting into debt and building up troubles for the future," explained Sean Gardner, chief executive of the site.

"We all deserve a holiday but running up debt is not going to help in the long-run."

Recently, Moneyfacts.co.uk warned holidaymakers that they could add to holiday debt by using their credit cards abroad.

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