British consumers spend almost twice as long researching and planning their annual holiday than they do considering their mortgage options, a new survey has revealed.
Thirty six per cent of the 2,000 UK adults questioned by personal finance website Fool.co.uk admitted to spending at least 10 hours selecting their ideal holiday, but only 21 per cent would put the same amount of time into choosing a mortgage .
The reasons for the apparent lack of interest in finance options were down to "boredom" and "confusion" with a fifth of those surveyed saying the buzz of shopping for financial products came nowhere near the thrill they received buying items such as holidays, shoes or gadgets.
Roughly 50 per cent of respondents said they felt overwhelmed by the choices available within the complex finance sector.
In addition, the research also found just 11 per cent would show the same level of commitment when selecting a bank loan .
David Kuo, head of personal finance at Fool.co.uk. said he couldn’t blame people for "wanting to spend more time planning their holiday than pouring over financial products".
However, he stressed that "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," he added.
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Brits Put More Effort Into Holiday Research Than Mortgage Options Thu, 17 Jan 2008      Recommended linksUK Travel Agents ResourceHoliday guides World holidays Travel agents quick enquiry City break deals Brits Spend Too Much Time Searching For Holiday Bargains |
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