Budding Beckhams and musical Myleenes pull on parents’ purse strings

With children heading back to the classroom, parents may be in for a shock when it comes to the not so obvious costs involved in schooling. Research from Alliance & Leicester Savings reveals supporting out of hours school activities, like music and sport, can add over £3 billion to annual school expenses.

Parents will no doubt be aware of the price tag attached to regular timetabled activities, yet school kids and parents alike are understandably lured by the choice of extra clubs, teams and musical groups on offer. Whilst parents will want to provide their children with as many opportunities as possible, which in turn benefit them with a range of skills, some parents may not have considered the expense involved.

Ross Dalzell, Manager for Savings at Alliance & Leicester, said: “Of course, every parent wants their child to be able to take part in extra curricular activities on offer inside and outside of school and to support their every ambition. But costs will mount up on top of the price of compulsory uniforms, school dinners and school trips. Parents will feel the pinch if they have not made financial provision for their child’s extra curricular activities; especially if they have more than one child at school, or if their child takes part in more than one activity.”

Parents of budding David Beckhams, enticed into the full football fantasy, can expect to pay an average £115 for a top notch football kit, including the latest football shirt. In addition, the cost of membership to an after school group is around £40 per season, that coupled with the cost of petrol to and from training and matches will soon see the bills mounting up.

Similarly, parents of a budding Myleene Klass can also expect to be forking out. Violin starter packs at £79, or a clarinet starter pack at £199, make for pricey pastimes, especially with private violin lessons at £20 per hour. For X-Factor wannabes, parents can also expect to pay £35 an hour for private singing lessons.

Dalzell continues: “Saving, especially a little and often, can easily build up to eliminate stress and absorb these additional costs. Simply putting £50 from your monthly wage packet into a high interest savings account or ISA gets you £600 a year, plus interest. Alternatively, saving a little from a bonus or payrise is another way to manage these costs.”