7 ways to save cash over the school holidays

EXPERTS SHARE SUMMER BUDGETING TIPS FOR PARENTS.

- BY LISA SALMON

THE school summer holidays are on the horizon - it may be time to start saving up.

Because having the kids at home all day means a lot more money spent on food, entertainment and childcare. In fact, research by life insurance broker Reassured found parents can pay an average of more than £1,000 extra per week during the school holidays on things like food, entertainment, childcare, summer camps and holidays.

And while that figure may seem excessive, there’s no doubt that the costs can really mount up and parents need to be prepared.

“The school holidays are a particular challenge when surrounded by bored and fractious children who need to be entertained and fed during the week as well as at the weekend,” says finance expert Jasmine Birtles, founder of the financial advice site MoneyMagpie.

“But with a bit of knowledge and some creativity you can give the kids a fun time without going into debt.”

And Louise Hill, founder and CEO of the children’s money app GoHenry, points out that careful budgeting over the summer holidays can also be a great opportunity for children to learn about money and how to spend wisely.

She says: “As we approach the end of the summer term, it’s the perfect time to start having open, honest chats with your kids about budgeting and saving for those summer holiday treats.”

1. Get kids saving for the holidays