With school holidays just around the corner, while many parents are looking forward to enjoying family time together, over a quarter (27 per cent) admit they worry most about the money needed to pay for the summer holidays, according to new research conducted among 2,000 UK parents for The Nectar
Credit Card by American Express.
In addition to this, just over one in five parents (21 per cent) are concerned about how they will keep their children entertained for six to eight weeks. Many, however are making the most of reward schemes to fund fun family days out at a reduced cost.
UK holidaying remains popular with just under four in 10 (39 per cent) planning to ‘staycation' at home this year, at an expected average cost of £893 (on travel, accommodation, meals and spending money).
Over a quarter (28 per cent) of respondents are planning a main Summer holiday abroad and expect to be spending an average of £1,295 in total on flights, accommodation, meals and spending money for the family.
It's not only the cost of a traditional ‘two week holiday' that needs to be accounted for. The Nectar Credit Card research shows that parents plan to take their children on an average of four ‘day trips' to theme parks, the seaside and cinema, over the coming school holidays.
On top of this, they expect their children will also enjoy on average three separate day trips with other family members, godparents and friends. At a predicted average cost of £60 per excursion (on travel, entrance fees, food, gifts), this could be a substantial additional spend on ‘days out' of up to £420 per family over the holidays.
Over a third of families (35 per cent) save money through the year to pay for their summer ‘days out' and activities. A similar number (35 per cent) use their July/August monthly salaries to pay for these, while 14 per cent of parents surveyed use a credit card to spread the cost of excursions and day trips.
Just under three-quarters of families (71 per cent) are planning to make the most of reward and loyalty points and discount deals available to keep their children occupied while at home this Summer.
According to the research almost three-quarters of parents (73 per cent) expect to save up to £50 by using rewards/loyalty points with one in 10 parents hoping to save over £100 by putting their reward points and vouchers to good use over the summer.
"With up to two months of holidays ahead, many parents are understandably feeling the pressure of costs attached to the school holidays,” said Elisabeth Leblanc, Head of Partnerships at American Express.
“By budgeting throughout the year and clever use of reward and loyalty schemes, cost conscious parents can ensure they have lots of fun activities and days out planned to keep their families occupied over the summer.
"By using a reward card such as The Nectar
Credit Card for everyday spending, points can be earned all year round and then redeemed to help pay for summer holiday special treats, such as a day out at Alton Towers, a visit to Madame Tussauds or Legoland, trips to the cinema or a family treat at a favourite restaurant."
Top Five Family Days Out:
According to The Nectar Credit Card research, most popular holiday day trips and treats being planned by parents this summer are:
- Day trips to the seaside or fun fair (47 per cent)
- Visits to theme parks (40 per cent)
- Family picnics (37 per cent)
- Swimming (27 per cent)
- Shopping trips (23 per cent)
- Trips to the cinema (23 per cent)
Top Five Free Activities at Home:
The research revealed most likely ‘at home' activities to keep the children occupied are:
- Playing in the garden with siblings or friends (56 per cent)
- Playing at the house of friends locally (53 per cent)
- Playing computer games at home (51 per cent)
- Watching TV/ DVDs (50 per cent)
- Walks/bike rides (45 per cent)
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