Over 65 Travel News

18 August 2006  Older savers spend more
Britons in the over-50s age bracket, many of whom will require senior travel insurance, take six times the amount from their savings to go on holiday than those aged under-thirty, according to new research.

The research from Birmingham Midshires, conducted as part of its Saving Britain campaign, has revealed that just under a third of people in Britain used their savings to fund their summer holidays this year.

Weekend breaks and holidays are the main reason for over-fifties to delve into their savings it was reported, while more than one in five admitted to having to use their savings to pay for unexpected household bills.

Jason Robinson, director of savings operations for Birmingham Midshires, commented: "We have been tracking savings habits for a number of years with our Saving Britain study and over time we've seen that the savings message is getting through.

"People are clearly making the effort to save; the hard part however is leaving the funds in savings and not spending them. This comes from planning and commitment and we always encourage savers to try and be realistic in what they put away."

On average, the study revealed, those over 50 took around £650 from their savings to pay for their holidays, while those under 30 withdrew an average of £90.


© Adfero Ltd

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