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Parents overspending on keeping kids happy
Parents are spending an average of £40 a day trying to keep their children entertained over the Christmas holidays, a new study has revealed.
Three out of four parents also admitted to spending more than they could afford over the break on toys, DVDs and extra pocket money, according to the poll by internet bank Egg.
Nearly two-thirds of parents said they regularly took their children out for lunch over the holidays, with more than half adding that they funded regular cinema trips as well.
These added expenses will cost parents an average total of £540 over the two-week break.
Vanessa Wood, a spokeswoman for Egg, said that December "is the most expensive time of the year for a lot of families but being smart about how you spend money can really help spread the cost of Christmas".
According to the bank's research, nine per cent of parents believed that spending the money shows their children how much they love them and one in 25 admitted they felt the need to follow the lead from other parents.
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Published: 09/12/2009
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.