Caravan Insurance

Brits who opt to take the kids on a caravan holiday abroad during the school holidays ought to keep a closer eye on their finances, a new report has indicated.

It is estimated that, of the many parents taking their children overseas for the half-term break, two out of five will spend more than they had initially budgeted for, while one in five will not have even set themselves a limit in the first place.

Static Caravan Insurance

These vacationers further jeopardise their money by not taking adequate care of it, the report by Lloyds TSB showed, as more than half carry hard cash with them but a significant number of these tourists do not store theirs safely.

Head of travel Jatin Patel commented: "Keeping money safe and sticking to a budget can be difficult at the best of times, but when you're on holiday and in unfamiliar surroundings, it can be even more of a challenge."

Travelling with the kids can be particularly expensive, with a report last summer by Natwest estimating that it costs nearly £1,000 on average to take a two-child family abroad for just one week.

The threat of losing cash without even spending it was highlighted in another study by Direct Line, which showed that £624 million worth of items, including money itself, has been stolen from Brits abroad in the past three years alone.

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