Holidays are number one priority for British savers

When it comes to working out our 2013 spending plans, Brits are overwhelmingly opting for fun in the sun, according to research by Norwich & Peterborough Building Society.

Four out of 10 people (40%) chose getting away as their main motivation for putting money aside, with home improvements coming second in the list of priorities with half as many votes (19%).

People in the North East of England proved to be most committed to taking a break, with more than  two-thirds (67%) of people saving to spend on a holiday.

Other popular choices include:

purchasing clothes or shoes (13%)
paying off debts (12%)
buying a car or motorbike (9%)
funding a deposit on a mortgage (8%)

N&P, which commissioned the survey, also found that age was no barrier to saving for a holiday with 43% of people aged over 55 saying that was the reason for their saving.

Ewan Edwards, N&P's head of current accounts, said: "It is clear holidays are a major motivation for us Brits when it comes to planning our spending.

"Clothes and fashion are another focal point for people's spending plans and many people are also planning for the future by putting money aside for studying or training, paying off debts or building a deposit for buying a home."

N&P warned those who are planning to take a holiday abroad would do well to consider the hidden costs of using their debit card. Holidaymakers can be caught out by unexpected charges overseas but N&P's Gold Classic Current Account and Gold Light Current Account offer free use abroad.

Ewan Edwards added: "Trips overseas can be a costly exercise, especially when you factor in the charges that can be added to using your debit card. By choosing a current account with a debit card that's free to use overseas you are already saving yourself cash - money you can put aside for your next trip."

For more information, visit nandp.co.uk.