PARENTS are set to spend £492 entertaining their children this summer, a 26% increase on last year.
The Post Office’s annual Parents’ Summer Spending Report examines the costs and concerns of families during the looming summer holidays.
Its research says:
- Parents will spend an average £66 on other people’s children, £119 on petrol and a further £106 on childcare
- Almost two thirds (58%) of parents worry about the cost of entertaining their children
- 46% feel under pressure to keep up with other parents’ spending
- Almost half (47%) expect the bulk of money will be spent on admission for various attractions, including theme parks and museums
- One in ten would miss bill payments in order to cover costs.