Abbey top 10 tips for parents released
www.moneynews.co.uk > General finance > Abbey top 10 tips for parents released
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Money News |
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Abbey top 10 tips for parents released
Mon 4th Jul 2005
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The move comes following research from Abbey showing that working parents will spend huge amounts of extra money this summer on their children while they are not in school.
An average of £50 a week will be spent on each child on care arrangements, including au pairs and activity centres, amounting to £600 for the six-week break for a two-children family.
Abbey has warned that parents need to plan ahead for the increase in spending and manage their savings better – while one in three rely on their savings during the summer holiday period, over a quarter simply put everything on credit.
Gillian Ferguson, Abbey's group marketing manager for savings, said: "It's important that parents save money throughout the year to help pay for the extra cost – putting just a small amount aside each month into a savings accounts could make the financial burden of the school summer holiday much easier to bear."
Abbey's top ten tips include: working out a plan in advance for how kids are going to spend their time; parents taking time off work on different days; and encouraging kids to save their pocket money to teach them about saving habits.
Related News : General finance |
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Related News : Santander |
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