Faster and smarter in the app... Download now

Teenagers 'need parents to fund holidays'

Teenagers are increasingly heading off on holidays without their parents, but they lack the financial skills to survive abroad, new research suggests.

Findings from a study carried out by Lloyds TSB found that 25 per cent of teenagers planning a holiday without their parents expect that they will need to phone home and beg for some extra money while they are away.

As a result, 38 per cent of parents are nervous about letting their children fly off on holiday.

The study also suggested that both parents and their children are concerned about the security of their money while they are on holiday.

Despite these concerns, more than eight out of ten teenagers heading off on holiday will replay on cash, rather than more secure payment options like credit cards and traveller's cheques.

"Parents are understandably nervous about picking up the bill for their children’s fortnightly holiday excesses," explained Philip Robinson, head of Debit cards and travel services at Lloyds TSB.

"One way to help with budgeting is not to send them away with too much cash which is a temptation."

Some recent research suggested that the average person in the UK goes on holiday with £256 of foreign currency.

Airport Hotels - Stay the night before your flight and relax in one of our 140 Airport Hotels. Pre-book with Holiday Extras and save up to 45 per cent.