Around 12 million Britons go into debt paying for holidays every year, according to new research by online credit monitoring expert CreditExpert.co.uk.
Paying on credit and failing to be able to keep track of this spending was seen as one of the main reasons why Britons slip into the red during holidays – 27 per cent of those surveyed pay for their holiday on credit, taking out a loan or using their overdraft.
And of the 2,000 adults polled, just over 20 per cent of those who go into debt admitted they lose track of their spending while on holiday, with 18 per cent saying they only think about the cost after the holiday.
Young, 25 to 34-year-olds are the most likely to lose track of their holiday spending, with 37 per cent saying this is what had caused their debt.
And men (26 per cent) where more likely than women (18 per cent) to get carried away while travelling.
Jim Hodgkins, managing director of CreditExpert.co.uk, argued that the report revealed the "me now, debt later" attitude of the Brits and recommended better planning as the solution.
"Keeping a budget for the cost of the vacation as well as a day-to-day holiday expenses will help you going into debt. Missed credit repayments are likely to have a negative impact on your credit report, which mean lenders may not want to offer you credit in future," he added.
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