ACCORDING to new research from TSB, nine-tenths (89%) of parents are trying to keep spending costs down this summer, with 90% planning to entertain their children within their local community.

As the cost of keeping children entertained during the summer holidays is expected to hit nearly £250, parents are taking cost-cutting measures, with over two-thirds (70%) planning trips to the local park and almost half (47%) visiting the local leisure centre for sporting activities delivered by the centre or local sports clubs.

Nearly half of parents (44%) will be having picnics with neighbours or other parents from within their local community and just over a third (37%) will also plan local outings with friends.

Many parents will also seek to keep their children amused by sharing toys and DVDs with local friends (27%) and alternating play dates with children (26%).

Only one in five (22%) will be leaving their children with grandparents during the summer holidays, although that almost quadruples (88%) among parents with three or more children. It also increases to one third (32%) in London.

Parents with three or more children are also increasingly likely to use other family members for free childcare during the summer holidays (95%), an increase on the 15% average.

Parents in the south east are the nation’s biggest summer holiday spenders, at £287.30, compared with only £194 in the east. In addition, dads are higher spenders (£267.20) than mums (£222.50), while parents with three or more children will spend £484 during the summer holidays.

To cover the cost of summer spending:

  • Over a third (36%) will raid their savings accounts
  • A third (34%) have saved money regularly to cover the cost
  • Almost a quarter (22%) will work overtime
  • A fifth (21%) will cut back on their weekly shopping trip
  • Less than one in five (19%) will sell personal items on eBay or at a car boot sale

When it comes to days out further afield, more than half (57%) of parents are considering free visitor attractions, such as museums and exhibitions, while 53% are looking to subsidise paid activities with discount vouchers and special offers.

Almost one half (46%) of parents will also redeem loyalty points to put towards days out for their children.

Jatin Patel, products director, TSB, said: “Keeping the kids entertained over the summer can really add up but staying local can help parents keep costs down. This will not only boost local attractions but sharing the caring and pooling resources also enables local communities to thrive.”