Half of British families cannot afford a summer holiday this year, new research shows | News

As the school summer holidays approach, new research from Park Christmas Savings shows that families in the UK should prepare for six weeks of financial strain – with food costs, days out and childcare increasing pressure on already tight household budgets.

With school gates closing for summer in the coming weeks, a major new survey from Park Christmas Savings in Britain has exposed the financial realities families face this year.

The annual Junemas Park Christmas Savings Survey, which surveyed 3,000 parents across the country, found that families are almost evenly split on whether they can even afford to go away this summer, with many having already resorted to drastic measures – including 4 in 10 parents taking their children out of school for a holiday to keep costs down.

When asked directly if they could afford a summer holiday this year, just 41% of parents said yes, while 42% said they couldn’t afford a holiday, while a further 17% said they were just not sure – meaning that more than half of British families are ruling out a summer holiday altogether or facing real uncertainty about whether they can book one.

Financial pressure is forcing some families to take matters into their own hands. The research shows that 39% of parents admit to taking their children out of school during term time specifically to save money on holiday – despite the well-publicised fines and penalties that many councils now impose for unauthorized absences.

When asked which costs put the most pressure on their summer budget, parents cited food costs as the biggest pressure, cited by 42% of respondents. Days out followed at 25%, while general holiday costs amounted to 19%. Children’s activities (12%) and childcare (2.4%) scored the lowest – suggesting that for many families, simply feeding the household during six weeks of school closures is proving to be more expensive than keeping the children entertained.

It’s not just about money either. When parents were asked about their biggest challenge during the summer holidays, 60% said keeping their children entertained – by far the most common answer. Combining work and childcare came a distant second at 30%, while the costs of childcare (6%) and finding childcare in the first place (4%) were mentioned much less often.

Faced with these pressures, families are making active changes to manage their budgets. Three-quarters of parents (74%) say they are shopping more carefully, while 55% are cutting back completely on non-essential items. Nearly half (47%) rely more heavily on discounts and offers, and one in five (20%) actively follows money-saving advice to get through the summer.

“These findings from our annual Junemas paint a very grim picture of what families are facing as the school holidays approach,” said Amy Peebles, in-house family budgeting expert at Park Christmas Savings. “It’s telling that food costs, not days out or even childcare, are the biggest pressure point for parents at the moment. And the fact that two in five families have felt forced to take children out of school just to fund an outing shows how tight household budgets really are.

She added, “The good news is that with a little planning, families can take a lot of that pressure off without spending a fortune. A key focus of our Junemas campaign is to get ahead on your big family expenses and set aside some regularly to spread costs and avoid debt.”

Top tips for a cheaper summer

To help families cope with the financial pressures highlighted in the research, family budgeting expert Amy Peebles has shared her top tips for reducing summer holiday costs without sacrificing the fun:

Take advantage of council and library freebies: many councils offer free or discounted activity passes for school-age children during the holidays (swimming, sports, arts and crafts) that many parents don’t know exist. Combine this with a summer reading challenge at the library, which is completely free and often comes with stickers and prizes.
Picnicking, no cafe: Swapping just one cafe stop a week for a full picnic could save a family of four £20 to £30 per trip. Also take snacks and a bottle with you for a day out, as food and drinks bought on site at attractions are almost always overpriced.
Batch cooking before the holidays start: One big cooking session for a week’s worth of lunches saves money and eliminates the temptation of Wednesday afternoon takeout. Reduced portions, which are often fullest in the early evening, are a great way to stock the freezer on the cheap.
Organize a childcare swap: Organize a schedule with a few local parents so everyone can take a turn looking after the kids for the day. Each family receives free childcare for a number of days during the week, and the children usually have more fun in a group.
Start saving for Christmas now, not in November: it sounds counter-intuitive, but putting a small amount aside every week over the summer (even £5-£10) means December won’t be a second financial blow straight after the summer holidays.
Do you want to get ahead and avoid debt? See more information here: https://www.getpark.co.uk/budgeting/