17 Jan

More time spent looking for holidays than mortgages

More time spent looking for holidays than mortgages

New research has revealed that many Brits spend more time choosing their holiday than their mortgage, despite purchasing a home being one of the biggest financial commitments most people will make.

Personal finance website Fool.co.uk commissioned the research and found over a third (36 per cent) of Brits spend at least ten hours selecting their ideal holiday but only a fifth (21 per cent) would put the same time into choosing a mortgage.

Almost half (45 per cent) of the 2,000 respondents to the survey said they felt overwhelmed by the choices available to them and find it almost impossible to navigate their way around an increasingly complex money maze.

David Kuo, head of personal finance at Fool.co.uk, says: "Who can blame people for wanting to spend more time planning their holiday than pouring over financial products? But while a good holiday will recharge your energy levels for a few weeks, healthy finances can boost your bank balance for a lifetime.

"By taking a bit more time considering such things as your mortgage, you could save up to £3,000 in one year to pay for the dream vacation you’ve yearned for but never quite been able to afford."

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