Older Britons make the most of travel money

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Wed, 08 Mar 2006

Older Brits are better at ensuring their travel money goes further, according to a new survey.

Research from Saga Travel Money discovered that the over 50s are often the best at ensuring they get a good deal on foreign exchange rates– with 79 per cent seeking out the best exchange rates.

Over half of over-50s travellers would expect to pay no commission when exchanging money, whilst only four per cent would expect to pay more than three per cent commission compared to 6.7 per cent of 16-24 year olds.

However, even experienced holidaymakers are missing out on around £250 million each year by making simple mistakes such as not purchasing their travel money in advance.

"People spend a lot of time planning for their holiday and finding the right destination, but clearly leave more to chance when it comes to making the most of their holiday money," said Andrew Goodsell, Saga chief executive.

"By ordering their currency in advance, over-50s could collectively have an extra £245 million to spend on a little extra luxury whilst away."


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