Summer break lands many parents in debt, says charity
Joe Lepper
Friday, July 2, 2010
Parents will rack up debts of more than 500 to provide care and activities for their children during the summer holiday break, according to a new survey.
The survey by poverty charity Elizabeth Finn Care found that 38 per cent of families would end up in debt as a result of the long summer school holiday. One in seven parents estimates that the amount they will owe will be more than £500.
A third of those surveyed said they could not afford a family summer holiday. One in 10 said they would take their children out of school during term time to take advantage of cheaper holiday prices.
Just under a quarter of parents surveyed said they could not even afford to take their children to the cinema. One in five predicts they will not be able to afford a family trip to the seaside.
Of those who will get into debt over the summer holidays, 16 per cent will use their credit card, 14 per cent will rely on their overdraft and one per cent will turn to door-step lenders offering loans with high interest rates.
Matthew Sykes, chief executive of Elizabeth Finn Care, said that many families do not realise they may be eligible for government support. He points to new government figures that show £16.8bn worth of welfare benefits were unclaimed from 2007-2008.
A third of those surveyed said they could not afford a family summer holiday. One in 10 said they would take their children out of school during term time to take advantage of cheaper holiday prices.
Just under a quarter of parents surveyed said they could not even afford to take their children to the cinema. One in five predicts they will not be able to afford a family trip to the seaside.
Of those who will get into debt over the summer holidays, 16 per cent will use their credit card, 14 per cent will rely on their overdraft and one per cent will turn to door-step lenders offering loans with high interest rates.
Matthew Sykes, chief executive of Elizabeth Finn Care, said that many families do not realise they may be eligible for government support. He points to new government figures that show £16.8bn worth of welfare benefits were unclaimed from 2007-2008.
