Brits bury their heads in the sand when it comes to shelling out for holidays, with one in ten jetting off on the next holiday before paying for the last, according to a new report.

Britain is a holiday-loving nation with most of us going on at least two trips a year – but many of us are taking a ‘buy now - worry later’ approach.

Research from Alliance & Leicester Savings reveals that 4.2 million people in the UK (10 per cent) do not have any qualms about jetting off on their next holiday before actually paying for the last, with men being twice as guilty as women. More than one in five spent as long as a year paying off their last main holiday – and nearly 900,000 people still haven’t paid the final bill.

The Alliance & Leicester Savings holiday report also revealed that 44 per cent of people - 19.4 million - do not save the full amount needed to go on their holiday, yet jet off anyway.

This spendthrift approach is likely to burn a bigger hole in the pockets of Britain’s serial holidaymakers - the research found that more than one in ten people take an indulgent five or more holidays per year, including weekends away. Older travellers, those over 55, are most likely to treat themselves to over five breaks per year.

“We all like to have a holiday (or three) to look forward to each year – for many, booking another one is the perfect way to beat post-holiday blues,” said Ross Dalzell, Manager for Savings at Alliance & Leicester. “With holidays just a mouse-click away, the temptation to get away from it all has never been greater.”

As well as admitting to not saving up before going on holiday, the research also revealed a tendency for overspending among Brits once on holiday. More than a quarter of people surveyed admitted to spending more than they intended to on their last holiday with a massive 1 million confessing to blowing the budget by more than £500 – and some by as much as £1,000.

Worryingly, the survey also found that a fifth of those who decide to go all out, put the extra cash on a credit card, which they admitted to having no way of paying off straightaway. Another fifth said they had to put off purchases and really budget once they got back home.

“It’s easy to get carried away with the holiday spirit as we all want to make the most of our time away, however, many holidaymakers run the risk of letting their holiday dreams turn into a potential financial nightmare,” said Dalzell. “So much time and effort is put into booking and planning our holidays, it’s important that the same attention is given to considering how to fund them.”

He added that setting up a holiday fund and putting what you can afford by each month is the best way to ensure that you’re not still paying for your holiday fun long after your tan has faded.

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