Celebrity emulation 'getting us in debt'

Brits are getting themselves in debt through emulating their celebrity idols and splashing out on holidays, it has been revealed.

However, unlike high-profile people such as Coleen McLoughlin and Wayne Rooney, most members of the public won't have the benefit of sky-high wages and sponsorship deals to finance their trips.

Research from private bank Cater Allen found that some £64 billion is being spent in the UK on holidays, with over a third of people reporting being convinced of their destination by its reputation as a celebrity hotspot.

Resorts such as St Tropez and Dubai performed well, thanks to the likes of Brad Pitt, Tiger Woods, Tom Cruise and Katie Holmes, who have all holidayed in these destinations.

However, some 32 per cent of people were found to be spending ten per cent of their income on going abroad, with those in the south-east most likely to put the cost on the plastic.

Sally Watts, head of marketing at Cater Allen, said people should manage their finances carefully.

"Apart from the obvious security risks of taking too much cash with you when you travel, the costs associated with transferring cash before you leave or using your debit or credit card while abroad can be staggering. It's your hard earned cash and even though you are on holiday your money should always be working for you," she commented.

In 2007, research from moneyexpert.com found that some people in Britain take as long as 12 months after their return to pay for their holidays.