Only one in four households would consider cutting their family summer holiday if they had severe debt problems, according to a study commissioned by a leading debt management company.

The nationwide report was carried out by research specialists GfK NOP and commissioned by Debt Advisory Line, which was recently awarded the title of ‘Debt Management Provider of the Year’ at the Insolvency and Rescue Awards,

The report, which polled 1000 adults, found that only 25% of respondents said they would consider cutting their summer getaway if they had to devise budgeting restrictions as a result of severe debt problems.

According to the report, those in Yorkshire were the least likely to want to give their holiday the heave-ho in the face of debt, with a mere 15% of Yorkshire respondents stating that they would be prepared to give up on their getaway to stay out of the red.  More than double the amount of Londoners were more likely to sacrifice their summer break, with over 30% claiming they would cut this cost in a bid to save cash.  Overall, those in Northern Ireland were most savings savvy with nearly half of respondents keen to forego their family summer holiday to save the pennies.

Leading debt management company, Debt Advisory Line, commissioned the nationwide survey as part of its ongoing research into customer spending habits. Mike Ransom of Debt Advisory Line explained how information from the report will help the company to advise debt ridden customers.

He said: “Whilst we encourage people to make long term lifestyle choices rather than quick fixes, we would advise that our customers definitely consider cutting out expensive holidays as this can lead to non intentional impulse spending.

"If families do choose to take holidays, we would urge them to ensure that these were planned and budgeted for well in advance with a plan of activities and likely spend calculated beforehand. That way, there are no nasty surprises or credit card bills to be faced with afterwards.

"If you have debt problems, it’s crucial to look at all aspects of your lifestyle and adapt accordingly in order to keep up with regular direct debits and overdue credit card or loan repayments.

"The results of this study help our staff appreciate how different people have different priorities and just how difficult it is to make these sacrifices."

Anyone affected by debt can call Debt Advisory Line’s helpline on 0800 157 7254. The company’s advisors don’t charge for help and advice unless a specific debt management plan is agreed and created for you.

Visit www.debtadvisoryline.co.uk