PRN: One in Five Parents Pushed Into Debt by Summer Holiday Spending
One in Five Parents Pushed Into Debt by Summer Holiday Spending [08-August-2011] CHESTER, England, August 8, 2011 /PRNewswire/ -- Four in five families plan to go on family days out in theÂ UKÂ this summer 18 per cent of parents feel summer activities will push them into the red 37 per cent turn to local free attractions for their children's entertainment With the summer holidays now in full swing, travelsupermarket.com, the UK's number one comparison site, reveals many parents are pushing themselves into debt by paying for activities to entertain the family.
One in Five Parents Pushed Into Debt by Summer Holiday Spending
CHESTER, England, August 8, 2011 /PRNewswire/ --
With the summer holidays now in full swing, travelsupermarket.com, the UK's number one comparison site, reveals many parents are pushing themselves into debt by paying for activities to entertain the family.
Research* from travelsupermarket.com reveals one in five parents (18 per cent) expect that paying for days out over the summer will push them into the red. Of this group, over three quarters (76 per cent) will be using a credit card or overdraft facility to fund activities, but perhaps more worryingly, almost a quarter (22 per cent) will be taking out a loan to fund the cost of family days out this summer.
It's perhaps not surprising that parents are concerned about paying for summer holiday activities as costs can soon mount up. For example, a family of four visiting Legoland this summer would end up shelling out around Â£300** once entry, travel and food costs are taken into account, an amount many households would struggle to come up with through disposable income alone.
An additional site poll*** of moneysupermarket.com customers shows that 37 per cent of parents plan to save money this summer by visiting their local free attractions. A further 14 per cent of parents said they will use money saving vouchers to help entertain their children.
Kevin Mountford, head of banking atÂ moneysupermarket.comÂ said: "With the school holidays upon us, many parents will be looking for ways to entertain their families - and unfortunately, keeping the kids busy can be an expensive business. Families need to examine all options before planning their summer fun or they could be left feeling the pinch for many months to come.
"For those planning to use their credit card to pay for activities, having the right plastic in their wallet can save them some serious cash this summer. A product like the M&S Credit Card, which offers zero per cent on purchases for 15 months could be a good option for those shelling out for days out as they can manage their repayments without incurring interest. There are also a number of reward cards which offer discount on a variety of activities including shopping, petrol and eating out and can help to trim the final cost of family activities."
Simon James, head of shopping and vouchers at moneysupermarket.com, added: "No matter how parents intend to fund their holidays, consumers will find that a little planning and shopping around can really make a difference. Money saving vouchers are a brilliant way to make big savings this summer, so it's always worth getting online and checking for discounts before booking activities. moneysupermarket.com provides discounts on a huge range of days out and with thousands of discount codes and vouchers available across the country; families could save a packet this summer."
Top tips to minimise summer spending
Make use of vouchers and codes - Before heading off for a day, check to see if there are any vouchers or codes which could help you cut costs. moneysupermarket.com Vouchers offer a range of offers and discounts on travel, eating out and family days out.
Book outings online in advance - for example, book an adult or family ticket online for Alton Towers and you'll save over 20 per cent on the on-the-day price.
Look out for local free attractions - Keeping the children occupied during the summer holidays needn't dent the wallet, places such as the Imperial War Museum don't charge an entry fee and there are plenty of exhibitions to suit everybody.
Take your own refreshments - Most theme parks and other attractions have places where you can eat a picnic, and it'll probably save you at least Â£20 - Â£30 for a family of four.
Outdoor fun - Contact your local council for details of local places that offer attractions of tree-climbing, duck feeding or an adventure playground for free. Most parks are also free to access not to mention your nearest beach.
Buy a family railcard - By paying just Â£28 a year, you can save a third on most adult rail fare and 60 per cent on child fares.
Cash in your shopping rewards - Tesco Clubcard vouchers can be redeemed at three times their face value and can be used at attractions, restaurants and other venues throughout the UK. For example, Â£5 of Tesco Clubcard vouchers can be exchanges for Â£15 worth of days out vouchers.
Notes to Editors:
*Opinium Research conducted research between 21st and 23rd June 2011, amongst 2,013 nationally representative adults aged 18+
** Entry cost: Â£147.20 (2 x adults -Â£42.40, 2 x children - Â£31.20).Train tickets (Birmingham to Windsor): Â£108.00 (adult singles x 4 at Â£19.00, child singles x 4 at Â£9.50). Ice creams - Â£ 6.00. Lunch - Â£50.00. Â Total Â£311.20
*** moneysupermarket .com site poll conducted between 21st and 29th June 2011 of which 1405 respondents are with children
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