Parents are expecting to spend more than £3,045 this year to keep their children entertained during school holidays, new data has found.
When it comes to making ends meet during school holidays, it can be really stressful for parents, thanks to the added expense that comes with finding things to do with kids for days at a time.
Now a survey from American Express has estimated that parents will spend more than £3,000 on kids entertainment in 2024, including things like sports activities, clubs, toys, books, magazines, games consoles and tech devices, days out, meals out and TV subscriptions. This value is also calculated per child, so those with two kids or more should expect to pay more, although there will be some economies of scale that will make it a bit cheaper for each additional child. These economies include kids being able to share toys and games consoles, and TV subscriptions being paid on a household rather than personal basis.
More than half of the survey respondents (59 per cent) said that keeping the kids entertained outside of the home was the biggest driver of their school holiday spending.
With school holidays just around the corner, we look at how parents can try and keep their costs down, while still making memories with their kids out of term time.
- Draw up a budget - if you can draw up your budget as early in the year as possible, and plan for extra expenses during school holidays, you can identify the times of the year when you'll need to spend more and when you can spend less
- Keep your eyes peeled for where kids eat free to keep food costs down
- Instead of theme parks, why not plan a park day, with a picnic, and a couple of inexpensive outdoor games
- Search websites like Days Out With the Kids and Visit England for free outdoor activities such as fossil hunting and Viking trails
- Look for how to get cheap cinema tickets to keep costs down if the weather isn't great
- Team up with friends to see if you can get discounts on group tickets, or make the most of any membership perks any of you might have. You could also join forces to see if you can take turns looking after each other’s children for a few days over the holidays to reduce childcare costs
- Try to save money elsewhere, like pausing some lesser used streaming services, or forgoing takeaways during school holidays to ease the pressure on the schools holidays budget.
If you have a child between five and 15, then make sure you know the trick to getting them free entry to 200+ attractions in the UK, and where tired parents can get free coffee when they need a caffeine hit.
-
Record number of families opt-out of claiming child benefit, but the decision could have serious repercussions for your futureStark warning for families as number of parents who opt-out of receiving child benefit reaches 10-year high
-
'It isn’t a holiday – it is crucial bonding time' - 70% of dads can't afford to take two weeks paternity leave, according to new researchThe research also found that only 14 per cent of fathers were ready to return to work mentally after taking their paternity leave
-
Two-child benefit cap 'pushes children into poverty' - campaigners urge government to scrap 'cruel policy' that impacts 1 in every 10 childrenThe controversial two-child benefit cap has met with strong opposition since its introduction in 2017
-
Gen-Z could be costing their parents £1,300 a year, by refusing to do this one thing (but it's not always their choice)It's not just parents who are facing the additional costs, the costs for Gen Z could be even higher
-
More than half of parents want to do this important thing for their kid's education but can’t afford to, according to new researchPressures on the family budget are preventing parents from paying for educational support outside of school
-
75% of mums feel guilty buying things if they earn less than their partners, according to social media poll, and the comments section was part heartbreaking, part inspiringSome mothers felt guilty for spending their partners money, while others saw it as household money instead
-
10 best zoos in the UK based on ticket prices, reviews and value for moneyThe best zoos in the UK have been determined based on a number of key factors, include prices, popularity, Trip Advisor ratings and how many animals they have
-
Child benefit is finally going to be made fairer - here's what's changing and whenChild benefit is finally going to be made fairer - here's what's changing and when
