Travellers cheques 'could help Brits abroad'

New research has discovered that Britons on holiday may have a Jekyll and Hyde personality when it comes to their finances.

Despite many people saving in the face of the credit crunch while at home, it seems that they change their own rules when it comes to spending in foreign climes.

A survey of around 2,000 people by American Express found that 20 per cent of people go over budget when buying duty free and ten per cent waste money at the airport on the return trip so they don't have to convert it back to sterling.

Meanwhile, 45 per cent said they would blow the budget if they saw something they wanted on holiday and only 17 per cent reported keeping to a tight budget while they are away.

Kirstie Bayley from American Express said that travellers cheques may suit people who have trouble sticking to a budget on holiday.

"The last thing people want to do when they go on holiday is worry about money and this summer's trend should be about being savvy with your money.

Travellers cheques never expire and can be used in multiple countries so there is no need to spend them unnecessarily - a better way of managing your travel money," she advised.

Last month, a spokesperson for the Family Holiday Association said that a break away from home could help families become more solid and content and could dramatically improve the mental health of wellbeing of both parents and children.