Tuesday 27th of October 2009
Family finances could be pushed over the edge this half-term after new research revealed British parents will spend £1 billion looking after their children over the school break - an extra expense that could cause many to consider a debt management plan.
The average parent will spend £16.29 on each child every day over half-term, according to Co-operative Investments.
And the typical family will take two trips out during the week - with a visit to the cinema the most popular option.
Rising fuel prices will add another £111 million to the amount spent as parents drive youngsters to attractions across the country.
Parents struggling to cope financially with caring for their children and running the family home may want to take out a debt management plan to tackle their debt.
A financial expert, in charge of a debt management plan, could reduce interest rates on debt - which can decrease the size of monthly repayments and improve a family’s cash flow.
By Chris King
