A new survey has revealed that Aussies fail to workout a good budget before they jet off on a holiday overseas.
The research revealed that on average Australians spend $235 more than they expected, with a total of $911 million overspent across the 3.87 million overseas vacations taken in a year.
Even worse, 74% of survey participants said that they didn’t have emergency funds set up for while they were travelling.
A key reason behind so many Australians pushing their budgets to the limit is poor planning and a lack of preparation. The survey showed that around 31% of Australians don’t organise their travel money until a week before their departure. As well, most travellers don’t take into account exchange rates and international ATM charges when they head off overseas.
Finance expert Jeremy Cabral believes that people need to educate themselves more about these costs so they can budget more effectively.
Source: http://www.news.com.au/travel/news/aussie-travellers-spend-more-than-they-plan-while-abroad/story-e6frfq80-1226671908383
