Parents should consider putting money into a savings account to help meet the cost of keeping their kids entertained during the long summer holidays, one expert has claimed.
Scott McPhail, savings manager at the Co-operative Bank, explained that the average British family spends at least £37 more each week during the summer holidays .
However, just 39 per cent of parents put savings aside to cover the extra cost.
Mr McPhail said: "At the Co-operative Bank we would like to stress to families that it is never too late to start putting some savings provisions in place to ensure that the cost of 'keeping the kids happy' during school holidays doesn't result in unhappy and out-of-pocket parents, in addition to continuing to save for their children's futures."
Last week, savings expert Emma Byrne claimed that putting money aside for a rainy day is becoming increasingly popular.
This is because saving money is now seen as "sexy", she said.
Savings accounts for kids holidays
Savings accounts for kids holidays
Fri, 02 May 2008
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