Holidaymakers 'must set themselves a travel budget'

It is important that holidaymakers budget their finances carefully before they head to the airport, it has been suggested, which might help them to avoid having to deal with credit card debt problems.

According to EZ Pay managing director Paul Smith, people need to think hard about the amount of holiday money they actually have to play with.

He advised: "Prepare a budget so that you know how much disposable income you've got whilst you're abroad."

Meanwhile, the expert went on to highlight the potential dangers of exchanging cash at the last minute.

Mr Smith feels that the exchange rates offered by airports are unfavourable and consumers might therefore want to sort out their travel money in advance.

His comments follow the publication of EZ Pay/Opinion Matters research, released earlier this month, which revealed that as many as 13 million of the country's residents have run out of money while on foreign holidays in the past.

Posted by Gemma Walker.