Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

News archive

This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

20/07/2012 13:37:25

The cost of the school holidays

While most kids can't wait for school to break up for summer recess, for parents the thought of trying to keep their brood entertained for six solid weeks can be a daunting prospect.

And, as new research shows, it can also be an expensive one.

A survey conducted by Post Office found that parents expect the summer holidays to cost over £400 (£66.78 per week). This causes worry for two-thirds of parents and 43 per cent feel the pressure to keep up with the Jones's and spend.

The biggest drains on parents' finances are attractions, eating out and petrol, with nearly a quarter saying they will use their savings to fund the holidays.

Doug Strachan, marketing director at Post Office, advised parents to do a bit of financial planning.

"For those worried about covering the costs this summer, putting together a budget with the amount they can afford to spend each week can curb over-spending and help parents be in control of their finances," he said.

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