Children enjoying their summer holiday could leave their parents out of pocket as parents try to keep kids entertained.
Abbey has supplied parents with a list of money saving tips for working parents to help them through the summer holidays.
This follows research by Abbey that found parents spend a great deal more on children's entertainment in the summer holidays, with an average of £50 spent per child every week.
The bank has warned parents to plan ahead for the cost of summer activities, and to use the money saving tips to start saving in advance for the summer holiday.
Parents that start saving £50 a month from the previous September could find that they have £500 – plus interest earned – at the start of the summer school holidays in the next year.
An activity plan should be worked out at the beginning of the summer to ensure effective budgeting, Abbey has urged. Parents should also encourage good saving habits by teaching their children to save their pocket money.
Another money saving tip offered to parents is to buy outdoor toys like Frisbees and cricket sets that could keep kids entertained.
Preparing packed lunches instead of relying on buying lunch while you're out is not only cheaper, but probably also healthier.
Finally, teaming up with other families in summer activities could help everyone with saving money, Abbey suggested.
Parents offered money saving tips for summer holidays
Parents offered money saving tips for summer holidays
Tue, 05 Jul 2005
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