Are no frills airlines really as cheap as they seem?
In the current economic and financial climate more and more of us are having to think twice about taking a holiday abroad, but for many an annual vacation is a necessity to help cope with the stresses of everyday life and take some time out with loved ones. Read more
Tags: government, vacation, cheap airlines, budget airlines, government taxes, trip journey, airlines, airline
Students forgetting to take out insurance cover
September 13, 2007 by admin
Filed under News, News-Insurance
It has become traditional for many students in the UK to take a year out after graduating from university to travel the world or get some work experience abroad before settling down to handle ‘real life’.
For many students this is a hugely exciting prospect, and is their first taste of freedom and independence. However, some get so carried away with their plans for taking time out abroad, that they forget about the basics – the vital protection of travel insurance cover.
Travel insurance is vital for those going abroad for any length of time, and even more so for students that are intending to spend long periods of time abroad. Without this the student could really run into problems when it comes to anything from lost and damaged belongings to medical and emergency treatment. Experts are now urging parents to ensure that their children have taken out an adequate travel insurance policy before their head off on their travels.
One official stated: ‘Most parents wouldn’t dream of allowing their child to drive a car without insurance. Yet as many as one in four gap year travellers sets off without travel insurance. Parents could be putting their home at risk because if their child suffers an illness or accident and needs hospital treatment or repatriation, the costs can run into tens of thousands of pounds.’
One student explained how travel insurance cover had helped her when she ran into problems and her belongings were taken: ‘After such a bad experience, I wouldn’t now dream of going away without travel insurance. I have also fallen off a moped in Thailand, which required hospital treatment. Thankfully, my insurance covered me.’
Tom Smith
13th September 2007
Holidays put Brits in debt
June 1, 2007 by admin
Filed under News, News-Banking
Millions of Brits are happy to put themselves in debt in order to go on holiday.
New research shows that as many as 12 million people borrow money in order to take a break abroad and they end up paying for it well after returning.
CreditExpert.co.uk, an online credit monitoring service, carried out research which found that credit cards, loans and overdrafts are the most popular ways of getting together the money for a trip.
Shockingly, six per cent of respondents admitted to going into debt most or every time they go on holiday, with 18 per cent believing that an annual holiday is so important that they do not think about the money until they return.
Once on holiday things do not get any better, with 22 per cent revealing that they lose track of how much they are spending.
“It’s worrying that, as a nation, many of us have a ‘me now, debt later’ attitude to our finances. Most of us work hard and need a well-earned break, but it’s important that we plan ahead and ensure our bank balance can handle the large outgoings that holidays and other expenses entail,” said Jim Hodgkins, managing director at CreditExpert.co.uk.
“Keeping a budget for the cost of the vacation as well as day-to-day holiday expenses will help you avoid going into debt.
“Missed credit repayments are likely to have a negative impact on your credit report, which means lenders may not want to offer you credit in future,” he added.
People aged between 25 and 34 are most likely to lose track of their holiday spending and 37 per cent say that this is the cause of their debt.
