New YouGov polling reveals the financial pressures facing parents
ahead of the school summer holidays. According to the research
commissioned by StepChange Debt Charity:
- One in three (33%) parents with at least one child under 18
have no savings for a rainy day, this compares to under one in
four (23%) UK adults.
- One in six (16%) parents with at least one child under 18
have used a credit card to pay for essential household bills in
the last three months, compared to one in ten (10%) UK adults.
- One in four (23%) of parents with at least one child under 18
have used credit, loans or an overdraft to make it through to
payday, almost double compared to all UK adults (12%).
Almost half of StepChange's clients are parents with dependent
children, and the charity knows first-hand how cost of living and
debt pressures can be felt by parents more acutely.
StepChange has shared its top tips for parents worried about
their finances this summer, on how to avoid debt problems and
have fun with family over summer with a tight budget:
- Plan your summer budget: It might sound simple but having a
detailed budget can help to keep track of your finances and how
much disposable income you have to go toward activities, food,
any planned holidays and other costs. StepChange has some
useful budget
templates on its website.
- If your child is eligible free-school meals, you should check
what your local council has on offer as part of the Holiday
activities and food programme, which provides healthy meals,
enriching activities, and free childcare places to children from
low-income families.
- Many large supermarkets offer ‘kids eat free' or for £1
deals, which is worth checking out at your local
supermarket.
- Check out what's on offer from your local library. There
are often lots of free or cheap activities on offer – including
the Summer Reading Challenge, which launched on the 5th of July
and encourages kids to keep reading (for free!) over the
summer.
- Be mindful when relying on credit cards, Buy Now, Pay Later
(BNPL), or other forms of credit. Before borrowing, ask: Do I
need it? Can I afford it? Can I pay it off soon? Avoid extra
charges and build trust by staying in control.
-
Check if your local
council offers any grants for school uniform. It may feel
early to be thinking about this, but it's worth factoring it
into your summer budget before September rolls around.
- If you are struggling with financial commitments or credit
repayments, speak to your creditors who will have support in
place. Don't hesitate to get in touch with a free debt advice
organisation like StepChange if you're worried
about debt.
Simon Trevethick, Head of Communications at StepChange
Debt Charity, said:
“Rainy day savings can be a lifeline for dealing with unexpected
costs, but the rising cost of living has made it harder and
harder to save – something which is felt particularly by parents
with school age children. The summer holidays can bring a lot of
excitement for families, but with that can be money worries of
how to keep the kids entertained, cover any childcare costs and
put food on the table.
“While it can be tricky, it's important to not pressure yourself
into spending more than you can afford and risk triggering debt
problems – it's definitely possible to have fun and make memories
on a budget. If you are relying on credit to cover costs during
summer while finances are tight, always be mindful of repayments
in a month or two and whether those will be affordable. Remember,
if you are struggling with debt, you're not alone – at StepChange
we can offer free and impartial advice that will help you get
back on track.”
Notes to Editors
- All figures, unless otherwise stated, are from YouGov Plc.
Total sample size was 2,235 adults. This includes a sub-set of
467 parents with at least one child under 18. Fieldwork was
undertaken between 7th - 8th May 2025. The survey was
carried out online. The figures have been weighted and are
representative of all UK adults (aged 18+).
