A study conducted by Mastercard revealed that 31 per cent of Australian travellers have money woes when they go on holiday, with one in 10 being left out of pocket, usually due to poor budgeting, unknown fees on their cards or lost and stolen money. And 26 per cent of those surveyed also admitted to coming home with regrets over how much they spent.
This was largely due to a poor understanding of conversion rates for currencies, with 39 per cent admitting this affected them. A whopping 31 per cent blamed being in holiday mode whilst nearly a quarter (24 per cent) admitted to not tracking their spending.
And probably embarrassed to admit it, only 10 per cent of people surveyed said they were impulsive and reckless with money whilst 37 per cent of Australians insist they are balanced with their spending on holiday.
Whilst 16 per cent of people sort out their travel money at the time of their booking, a whopping one in five people (20 per cent) wait until the last week to do it, with three per cent even leaving it until the airport.