More Aussies are putting holidays on the backburner

Cash-strapped Aussies have become increasingly concerned about the state of their finances in recent months and many have been forced to put their holiday plans on the backburner for now.

According to new figures compiled by Roy Morgan Research, 54 per cent of Aussies intend to take a domestic break in the June quarter.

Meanwhile, just nine per cent are hoping to head abroad during the three-month period, which is down from ten per cent in the same quarter last year.

Although this figure is still higher than five years ago, it is lower than many travel experts had predicted – especially in light of recent interest rate cuts.

Roy Morgan's international director of tourism, travel and leisure Jane Ianniello said those who are planning to go overseas are favouring the UK, US and New Zealand.

With money being so tight for many people, it is crucial that holidaymakers take the time to find the best exchange rates before buying currency.

"Many Australians are worried about their financial security and cautious about spending," Ms Ianniello remarked.

Have a question about travel money? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801432812-ADNFCR