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Summer Hols Sacrosanct for Struggling Families

May 12, 2008
Despite widespread concerns about the stability of the housing markets and widespread belt-tightening in the face of a gloomy financial environment, cash-strapped families are still reluctant to give up their summer holidays in order to save money.

Such is the assertion of Mychild, an online education resource for parents, in a newly-published study looking at holiday plans among UK families for the summer period. In its survey, the organisation found that 95 per cent of respondents were either definitely or very probably going to take a summer vacation. More than 1,000 families were involved in the study, which was conducted over a 24-hour period last week. The group asserts that the results demonstrate that family vacations are still a top priority for many households.

For those struggling to find the funds to take a break, a loan, people may find that the extra money allows them to take advantage of the best last-minute deals, as well as making sure they have the financial security to make sure they are well equipped for the holidays.

The study also identified a number of popular holiday destinations, with Spain and the Balearic Islands coming out as a clear winner with 145 votes. France followed with 67 votes, while 36 respondents said that they were still undecided on a location. Other notable holiday hotspots included Greece, America, Turkey and Cyprus. However, in a result that is perhaps indicative of the effect that a tightened economic environment is having on people's choice of travel destinations, more than 40 per cent were identified as either having already booked or planning to take a holiday within the UK.

Denise Roberts, resource manager at Mychild, said: "Overall the results of the survey tie in with research conducted by Mintel two years ago which showed that families are increasingly seeing the family holiday break as a necessity rather than a luxury. The summer school holiday period remains the peak time for family travel, particularly since the Every Lesson Counts campaign which cracked down on out-of-term-time holidays."

The Every Lesson Counts campaign is a government-sponsored initiative that aims to raise awareness of regular school attendance and offers assistance to schools, parents and children in combating absenteeism. For those who want to make sure that their children do not miss out on lessons while on vacation but struggle to handle the cost of peak holiday prices, a cheap personal loan may help to ease the burden and allow them to cover the cost gradually over a longer period of time.

In other areas of family life being affected by a worsening economic environment, financial services firm Virgin Money revealed in recent weeks that football fans are having trouble the costs of taking their children to games. In the study, it was revealed that over a fifth of respondents believe that rising costs of attending football matches will make taking kids to the game a financially unviable pastime.
About the Author
Abbi Rouse writes for All About Loans where visitors can apply online for cheap personal loans. We also specialise in online tenant loans, and secured home loans.
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