As the summer holidays begin, parents across the UK are expecting to spend £7.8bn entertaining their children this summer – an average of £594 per parent, according to the Post Office Money annual Parents’ Summer Spending report.
The costs associated with the summer holidays have increased by a quarter (25%) in 2018, and 30% over the past five years. The higher spend this year may be an indicator of general consumer confidence as families are willing to spend more on entertaining their children, however, many parents are still understandably concerned, with 61% worried about covering the cost.
With no sign of an end to the summer heatwave, parents are planning to get out and about to entertain their children, with eating out topping the list of expected expenses this year (47%), followed by entrance to attractions (45%). In addition to fun activities, parents will spend £117 on fuel, £86 treating their children’s friends and £93 on childcare – pushing the total summer expenditure to £980. Children of primary school age cost more on average than those in preschool or secondary school, with their parents expecting to spend an average of £684 on them this summer.