It's not just new winter coats and next Christmas's presents that Brits are snapping up in the January sales. They are also laying out for their annual two weeks of summer sun and grabbing low cost European mini-breaks while they are at it.
According to Yorkshire Bank research, 54 per cent of Brits depressed by the cold winter are bagging themselves a summer holiday while prices are low.
Waiting until the summer for a break away is too long for an increasing number of Brits. As well as booking their summer holiday in January, one in four (27%) will also book multiple weekend breaks in cities across Europe to make the most of the early bird deals currently around.
Despite having limited funds in January, one in three (33%) are heading to the travel agents, credit card in hand. This could be to ensure they are not amongst the one in four (25%) who, according to Yorkshire Bank's research, have previously missed out on a bargain break because they did not have the cash to take advantage of the deal when they needed it.
Gary Lumby, Yorkshire Bank's head of retail, said: "With Brits working the longest hours in Europe, it's understandable to find they are treating themselves to more and more holidays in order to relax. However, what they must be careful of is not being blinded by the cheap deals and overstretching themselves financially.
"Those planning credit card holiday purchases should ensure they keep up their monthly payments or spread the cost over the year in manageable amounts. If they don't, they may find the bargain holiday more expensive than first thought. Alternatively they could consider a Yorkshire Bank personal loan, which could work out cheaper and they'll know exactly how much they will need to pay back in total."
Mini breaks popular, major injuries uninsured
Weekend breaks abroad are also growing in popularity as an alternative to the traditional summer break, according to Yorkshire Bank's research. Nearly one in five (18%) are now planning to forfeit two weeks lying on the beach in favour of several mini-breaks.
However, almost one in three (32%) of those planning a European mini-break do not intend to purchase holiday insurance for their trip.
Gary Lumby added: "You can never plan when you'll be involved in an accident, especially when travelling abroad. That's why when going on holiday, even if it's just for a few days, you should always book good quality travel insurance.
"You often hear horror stories of the huge medical bills some holiday makers face when taken ill abroad. Bills for thousands of pounds can be prevented just by taking out a travel insurance policy before you travel. Not only will this cover medical expenses but also lost luggage, currency or stolen purses or wallets."
For more information on Yorkshire Bank and ways to help pay for your 2007 holiday, log on to www.ybonline.co.uk or call into branch.