People cannot afford annual holiday
UK consumers are cancelling and postponing summer holidays in an effort to save money, sparking fears of growing financial problems.
Figures suggest that 42 per cent of people not taking an overseas break this year are staying put because they cannot afford to holiday. More Than, who conducted the research, says that one in eight people can never afford to take a break away.
Fears of cash-flow problems were heightened when 26 per cent of adults admitted they were not confident about their financial situation, with people watching their pennies saying they were saving for something else, had spent too much last year, were not as well off, or were just generally worried about their finances.
"It seems from our research that many Britons won't be heading for a break in the sun this year because they simply can't afford it or would rather focus on paying off debt or saving money," commented Graham Hollebon, head of personal finance at More Than.
Even the lucky ones who have decided to take a holiday said that they would be spending less this year, added Mr Hollebon. | 
