Co-operative Investments highlights expensive entertainment costs

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Co-operative Investments highlights expensive entertainment costs

Co-operative Investments has advised parents that they must prepare carefully for holidays in order to finance entertainment for their children.

Zack Hocking, head of investments at the organisation, made his comments following research by Co-operative Investments, which indicated that parents had to pay nearly £1 billion to look after their children during the half-term break.

He noted that people are still willing to spend a huge amount of money on their offspring, despite the recession.

But this quantity of spending is good for the economy, he added.

Mr Hocking added: "It comes at an already expensive time when parents will be preparing for the cost of Christmas and shows the need for sensible financial forward planning."

In his view, a child trust fund account can be a good way of putting money aside on a regular basis in order to be able to afford these expenses.

Co-operative Investments recently announced that customers of its With-Profits Fund will be receiving a 0.6 per cent return during the first six months of 2009.

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