Co-operative Bank Savings: School holidays needn't be a burden

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Co-operative Bank Savings: School holidays needn't be a burden

The Co-operative Bank Savings is urging people to put money away for their children's expenses, after its survey of 3,500 families revealed that half of them were financially unprepared for the cost of keeping their children entertained during the school breaks.

Some 60 per cent of respondents said they spent more money keeping their children busy during bank holidays than at any other time of the year, either on days out or on the latest books, toys and DVDs.

Scott McPhail, savings manager at The Co-operative Bank, said: "We would like to stress to families that it is never too late to start putting some savings provisions in place to ensure that the cost of 'keeping the kids happy' during school holidays doesn't result in unhappy and out-of-pocket parents."

Now is also a good time for many people to get into the habit of saving, with rates at a seven-year high according to Moneyfacts.co.uk.
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