Money Matters: Schools Out

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In this week's Money Matters column, Wrekin's Debt & Energy Manager Dan Bebbington reveals how to save money on summer activities for your children.

With schools breaking up for the summer holidays, one of your main concerns right now might be how to keep your children occupied without breaking the bank.

Recent research by Santander shows parents spend an average of more than £500 per child during the summer holidays entertaining their children.

With that in mind and many of us already feeling the pinch during the cost of living crisis, it’s only natural to be worried about how much the next six weeks will cost you.

However, a poll carried out by the bank has revealed a number of ideas for a summer of fun that doesn’t cost the earth.

It comes as nine in ten parents surveyed said they would opt for free and low-cost activities in order to save money.

Bringing food from home is one of the top tips offered for cutting back costs on days out.

Visiting free museums, going on nature walks and having water fights are also among the most popular ways to keep children entertained on a budget.

Others have suggested using items found around the home to set up treasure hunts to keep them busy.

Meanwhile, going to the beach, park, swimming baths and cinema also featured highly, as well as having a picnic, going on a bike ride and walking the dog.

Taking time out to prepare for more expensive periods, like the summer holidays, is often a good way to plan your spending.

It’s difficult to plan for everything that life throws at you, but putting away a small emergency “rainy day” fund can help with unexpected expenses.

This summer will be trickier than ever for many people from a financial perspective, so remember that you’re not alone.

And there are countless way you can have fun with your children which won’t cost you an arm and a leg.

27th July 2023