As many as one fifth of parents don’t set a budget for the holiday period at all, despite the fact that one in five are also planning to travel overseas.

To help parents stick to the budgets they draw up, Lloyds is introducing a pre-paid travel money card which can be loaded up with dollars or Euros before travel.

The card should keep money safe, as well as constraining travellers to keep to their pre-planned budgets, stressed Jatin Patel, head of travel and international payments at the bank.

If the card is stolen or lost, the pre-pay can be transferred, a vital security measure, while the tight budget function may well be just as welcome to holidaymakers struggling to abide by their self-imposed budget limitations.

According to a new survey from Legal & General, more people are now eager to save than at any time over the past three years – as many as 65 per cent of British consumers.

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