Many parents find themselves adding to their debts over the summer so they can arrange childcare or summer activities for their children.
An increasing number of people find themselves in this position as the costs of childcare and school trips continue to soar to unrealistic figures.
Increasing Childcare Costs Creating Financial Difficulties In Scotland
- Childcare in Scotland costs an average of £104 per week*
- The average school trip costs £634.70**
- 32% of parents said their child’s school trip cost over £750**
- 18% of parents couldn’t allow their child to go on the school trip due to cost**
- 11% of parents sacrificed having a family holiday to pay for a school trip**
Parents in the Trust Deed Scotland office had examples of their own struggles to juggle full time employment with keeping their kids occupied over the summer.
The majority of parents in the Glasgow-based financial institution either worked different shifts from their partners to ensure someone was at home with the children at all times or they had family who helped them out when they were working.
One employee of the expert debt advice company said, “the cost of monthly activities are very expensive and having 3 kids means we have to book a holiday a year in advance so we can pay it up.”
Not everyone is in the position where they have family members who can help out and what happens if they are a single parent?
Another one of the employees gave an insight into what it was like being a single mother of two.
“I had to save up all my holidays throughout the year and use them during the summer holidays so I had to pay for less childcare. It was very difficult and it meant I didn’t really ever have any time off from work when I could relax.”
If you’ve found it challenging to cover the monthly necessities and make repayments to your debts, Trust Deed Scotland has a range of debt solutions that could help you get out of debt and free up your money, so you needn’t worry how you’ll cover childcare costs next summer.
Try the Trust Deed Wizard to see how a Scottish Trust Deed could help you reduce the amount of debt you have, enabling you to pay for childcare costs and avoid getting into more financial difficulties.
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*Rutter, J., ‘Childcare costs survey 2015’, Family and Childcare Trust, 2015, https://www.familyandchildcaretrust.org/childcare-cost-survey-2015, (accessed 4 Aug 2015).
“*Campbell, M. et al, ‘The Cost of School Holidays’, What Works Scotland, 2015, http://whatworksscotland.ac.uk/wp-content/uploads/2015/07/The-cost-of-school-holidays.pdf, (accessed 4 Aug 2015).