PPI payouts 'spent on holidays'

Press Association
Sunglasses and money jar filled with savings for vacation.
Sunglasses and money jar filled with savings for vacation.

%VIRTUAL-SkimlinksPromo%Victims of the payment protection insurance mis-selling scandal are more likely to have spent their compensation on holidays or a new car than squirrelled the money away into savings, research suggests.

Nearly one quarter (24%) of people who have had a PPI payout said they put the money towards a holiday, a survey for the website VoucherCodesPro.co.uk found.