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As the school year reaches its end lots of young people will be making plans for their gap year before heading on to work or university.

And according to one travel industry commentator, such backpackers appear to be becoming more and more choosey in their choice of destinations and activities. While such a development might improve the quality of their experience, it is perhaps inevitable that it also raises the cost of the exercise. Meantime, those intent on making the most of theirgap year could consider a personal loan as a means of boosting funds to make the trip a truly memorable one

Tom Hall, travel editor at Lonely Planet, commented: "People are recognising the value of saving up a little bit more before they go and one of the old adages of going on a big trip is: 'The more money that you have, the better time that you'll have'"

He also said that whilst previously travellers have had the luxury of a trip going on for more than a year, allowing for funds to be rebuilt by working in Australia or elsewhere, nowadays there is increased pressure for them to finish their journeys to get on with university or start working.

The increased pressure on finances is driven by the urge to get the best out of the experience, Mr Hall stated. "On the whole people are much more interested in the actual experiences while they're away and are prepared to pay for them," he observed. " If you go all the way to New Zealand you are going to want to do that bungee jump or skydive and you're not going to want to come home and say: 'I didn't do that.' I think that in the past people have been more willing to say: 'That's a little bit out of my price range'."

Those determined to head off to faraway shores but not sure of their financial situation might like to consider taking advantage of personal loan as a means of providing a safety net should they discover money is running low.

Mr Hall added that while gap year travelling was undoubtedly tied up with exploring a destination, a successful trip increasingly depended upon experiences as well, some of which could be more costly than others. His comments follow a new piece of research by travel insurance company which established that the average gap year trip could cost almost 4,000 pounds.

Those who do choose to take out a cheap loan to fund such a trip could also be pleased to hear Mr Hall's comments on where the money is directed. He claims that while such backpackers have a reputation for scrimping and saving, they are actually instrumental in putting cash 'directly into the hands of local operators', meaning that the savings or loans they spend during their trips support international tourism at a grass roots level.

It is not just young people who can get the best out of the flexibility being offered by a personal loan, however. While older people might not all be jetting off across the planet, many are exploring the information superhighway using the latest gadgets. A report published last month by Rias established that slightly less than a third of all internet users are aged 50 or more.

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With the cost of fuel going up several times over the last twelve months, significant numbers of Britons are concerned that the pressures that their finances are under are also rising.

In findings by moneysupermarket.com, it was shown that the cost of petrol has gone through the one pound and ten pence per litre barrier. Meantime, the cost of oil was shown as hitting record levels as electricity and gas costs have gone up by 15 per cent since the beginning of the year.

Research from the moneysupermarket.com show that two-thirds (66.9 per cent) of Britons questioned stated that they are “very bothered” about how they will be able to cope should fuel expenses continue to increase. Meantime, it was reported that some some 29.2 per cent will be a “little worried” about how their ability to get to grips with finances should the price of fuel continue to rise.

In addition to facing increases in this area of financial demand, it may happen that consumers develop further problems with management of their finances. This could see them struggling to make repayments on loans, credit and store cards, mortgages, household bills and meet transport costs.

On the other hand, just 0.6 per cent of those questioned report that they are not worried about the prospect of going up fuel prices. An estimated 3.4 per cent think that they will be able to cope should this financial burden get any worse, although they would prefer for this not to take place.

Tim Moss, head of debt for the moneysupermarket.com, said: “Customers are being stretched to breaking point as our poll of moneysupermarket users shows. Increasing fuel prices are a massive issue right now, in much the same way as they were during the fuel protests of eight years ago. Leading economists have been telling the government it can afford to drop the price of petrol by nine pence per litre without having any effect on its bottom line. People are really starting to suffer and need help urgently.”

He added that as the public is “powerless” to exercise any control over the amount of tax that the government places on fuel, it is important for consumers to get to grips with the spending areas which they do have control over. Mr Moss asserted that it is important people steal the time to organise their finances and recognise what areas of expenditure that their money goes on. In doing this, he claimed that they should concentrate on contributions towards essential areas of finances - domestic bills and mortgage or rent costs for instance - a priority. Meantime, less significant demands on current expenditure, such as magazine subscriptions, may have to be reduced.

Additionally, it was reported that those people who feel that they cannot get to grips with their finances by themselves should obtain independent guidance from the likes of the Buyer Credit Counselling Service and Citizens Advice.

Those Britons who are worried about their ability to manage their finances in the face of rising energy costs, might wish to consider taking out a debt consolidation loan. By doing so, borrowers could find that they are able to merge numerous constraints on their spending at once leaving them with low-cost monthly repayments. Such a loan could prove to be particularly useful for a large number of after a study by uSwitch revealed that some 4.5 million Britons are currently struggling to heat their properties.

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In research carried out by the Co-operative Bank Credit Cards, it was indicated the typical Briton will spend a little less than 175 pounds on this day of the week. This spending - which ranges from areas such as clothing and provisions to parking and make-up - accounts for some 9,077 pounds in a 365 day period. Consider this over a lifetime total spending on this time on this day will add up to more than 549,000 pounds.

And although large numbers of people look forward to having a good time at the weekend, money management difficulties seem to be leaving many with a fiscal hangover as Monday arrives. Just less than three-quarters (72 per cent) questioned indicated that they spend more cash during Saturdays and sundays than they had thought they would, with 36 per cent claiming to feel guilty about their total spending once the weekend is over.

For those customers who are requiring an practical way in which to increase their disposable income, applying for a cheap loan might be a good course of action.

The study from the financial services company indicated that a significant proportion of cash goes toward shopping sprees. Just over 21 pounds goes toward clothes, with 25 pounds and 44 pence splashed out on shoes. Overall, spending on these areas come to 47 pounds.

Furthermore, eating and drinking out results in typical saturday spending of more than 38 pounds. An average of 11 pounds and 83 pence goes towards electronic goods such as computers and DVDs, while the cost of travel stands at over ten pounds. Sports goods aand hobbies accounted for just under nine pounds.

Commenting on the figures, Maxine Xodo, product manager at the credit cards division of the Co-operative Bank, said: “It’s incredible to think that Saturday spending could add up to so much. But as a nation we work some of the longest hours in Europe and many people live for the weekend, with Saturday being the one day where people feel they can let their hair down and enjoy themselves. However it is important for people to manage their spending so it doesn’t come as a bit of a shock when their bills come through the door.”

Those consumers looking to make a significant purchase or want to add to their finances, taking out a cheap loan may be recommended. By doing this, borrowers may find that they are able to effectively buy an item - whether it is designer brand clothes, a new car or sporting equipment - effectively and are left with easily affordable repayments to make each month. Selecting these kind of loans could be a good course of action after a study carried out by IFA Promotion website Unbiased in April 2007 showed that many customers have a “buy now, think later” attitude towards shopping. An estimated 7.5 million people were shown to make short term financial decisions, with three million buying items just on desirability.

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