Parents spend £10 billion on childcare during school summer holidays

Struggling parents spend £10 billion on childcare during school summer holidays

The UK’s parents are struggling to fund childcare over the summer holidays with the average parent spending £1,704 for the six weeks of summer leave, coming to £71 a day.

Given that the average income is just £1,770 a month after tax and National Insurance, a month’s income is required just to cover childcare over summer.

Let me entertain you

What’s more these costs are before the UK’s households try and entertain their kids. A further £13 billion goes towards holidays, days out and ice creams.

Luckily almost half of parents have family support when it comes to childcare, but for those that don’t the average summer childcare costs are closer to £2,000.

Those costs are to cover nursery daycare (27%), activity clubs (23%, childminders (20%), summer camps (12%), and nannies (9%).

Childcare costs ‘more than GDP of Iceland’

However it isn’t just money worries with four in ten parents regretting that they weren’t able to spend more time with their kids during the holidays.

Parents are also worried about inconveniencing family and friends and being worried that their kids will be bored.

Commenting on the research Ann Robinson, Director of Consumer Policy at uSwitch, says:

“The amount parents are paying out this summer on childcare is incredible – it’s more than the GDP of Iceland.

“The Government has acknowledged that the skyrocketing cost of childcare needs to be addressed, but parents say the proposed measures do not go far enough.

“These figures should be a wake-up call for the political parties to put this issue at the forefront of their manifestos this autumn.”

The research also found that 63% of parents think that the Government’s plan for tax-free childcare don’t go far enough.

Covering the costs

While using a credit card isn’t a long term solution a long-term interest free credit card can help spread the costs in the short term.

For those with money to spend a rewards card or cashback card will provide some comfort after the spending is over.

Regional breakdown – cost of summer holidays

  Cost of Childcare Cost of Holidays % with free family help
North East £66* £945 39%*
North West £65 £937 49%
Yorks & Humber £41 £977 58%
East Midlands £70 £784 45%
West Midlands £54 £854 51%
East of England £55 £790 51%
London £103 £1,079 31%
South East £72 £936 50%
South West £59 £675 44%
Wales £34* £634 76%*
Scotland £51 £1,058 61%

Most Stressed Parents

Most Relaxed Parents

*Sample size below 50 respondents 

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