Travelers Are Reaching for Their Piggy Banks, Not Credit Cards
Loqbox’s latest survey, run with UK’s polling arm OnePulse, reveals a surprising trend – people planning summer getaways are ditching the card‑and‑credit cycle in favour of their own savings. Even amid the cost‑of‑living crunch, the desire to pack up a suitcase remains fierce.
Key Findings, Straight‑Up
- Savings take the spotlight – 68% of respondents say they’ll use their own cash to pay for holiday expenses.
- Only 17% lean on credit cards; 5% turn to personal loans or borrow from friends.
- Travel‑reward points still win, showing loyalty programmes are favourite flash‑cards for budget‑savvy walkers.
- When picking a pay‑method, fees and interest cost are the biggest headache; security and convenience follow close behind.
Why the Shift?
“High interest rates are making borrowing feel like a bad investment,” says Tom Eyre, Co‑Founder of Loqbox. “People are learning that a little discipline, patching up a personal budget, can mean a lot more sunshine on their travel plans.”
Cut‑back Champions
- Dropping social outings and extra subscriptions (think fancy streaming packages) for the sake of a beach eclipse.
- Re‑allocating a firm paycheck so you can hit that vacation fund before the bank screams.
Economic Reality Check
While 23% of folks are opting out of any travel this year (cause, right?), a small slice stays spontaneous – ready to gallivant only when a bonus or a windfall drops into their account.
What Loqbox Offers
Loqbox’s tools help folks shape their budgets, track expenses, and set “smart” savings goals. The aim? Making sure people can afford the meaningful trips without having to loop‑in a loan shark.
Co‑Founder Gregor Mowat adds, “Education is key. The more people understand how saving powers their lifestyle, the less they’ll need to rely on credit with its sneaky fees.”
In short, UK travellers are proving that a good cup of coffee, a pinch of discipline, and a dedicated savings pile can get you to the next shore without breaking the bank.
