Savvy parents use reward schemes to fund day trips
With school holidays just around the corner, new research conducted among 2,000 UK parents for The Nectar Credit Card by American Express reveals that while many parents are looking forward to enjoying family time together, over a quarter (27%) admit they worry most about the money needed to pay for the Summer holidays.
In addition to this just over one in five parents (21%) are concerned about how they will keep their children entertained for six to eight weeks. Many, however are making the most of reward schemes to fund fun family days out at a reduced cost.
Spending at Home and Away:
UK holidaying remains popular with just under four in 10 (39%) planning to ‘staycation' at home this year, at an expected average cost of £893 (on travel, accommodation, meals and spending money). Over a quarter (28%) of respondents are planning a main Summer holiday abroad and expect to be spending an average of £1,295 in total on flights, accommodation, meals and spending money for the family.
Day trips and excursions:
It's not only the cost of a traditional ‘two week holiday' that needs to be accounted for. The Nectar Credit Card research shows that parents plan to take their children on an average of four ‘day trips' to theme parks, the seaside and cinema, over the coming school holidays. On top of this, they expect their children will also enjoy on average three day trips with other family members, godparents and friends. At a predicted average cost of £60 per excursion (on travel, entrance fees, food, gifts), this could be a substantial additional spend on ‘days out' of up to £420 per family over the holidays.
Rewards on the Cards:
Over a third of families (35%) save money through the year to pay for their Summer ‘days out' and activities. A similar number (35%) use their July/August monthly salaries to pay for these, while 14% of parents surveyed use a credit card to spread the cost of excursions and day trips.
Just under three-quarters of families (71%) are planning to make the most of reward and loyalty points and discount deals available to keep their children occupied while at home this Summer. And just over half of parents surveyed (52%) will be using points from loyalty schemes and credit card rewards to fund much needed family days out. In addition, almost a fifth (19%) of cash conscious parents will be looking to use ‘two for one' deals, vouchers and discounted entrance tickets to help fund day trips and excursions over the holidays.
According to the research almost three-quarters of parents (73%) expect to save up to £50 by using rewards/loyalty points with one in 10 parents hoping to save over £100 by putting their reward points and vouchers to good use over the Summer.
Elisabeth Leblanc, Head of Partnerships at American Express said: "With up to two months of holidays ahead, many parents are understandably feeling the pressure of costs attached to the school holidays. By budgeting throughout the year and clever use of reward and loyalty schemes, cost conscious parents can ensure they have lots of fun activities and days out planned to keep their families occupied over the Summer.
"By using a reward card such as The Nectar Credit Card for everyday spending, points can be earned all year round and then redeemed to help pay for Summer holiday special treats, such as a day out at Alton Towers, a visit to Madame Tussauds or Legoland, trips to the cinema or a family treat at a favourite restaurant."
The Nectar Credit Card is the fastest way to earn Nectar points. Points can be accrued even more quickly by ‘Double Dipping' (using your Nectar Credit Card and Nectar loyalty card together) and earning MorePoints (500 More points are earned for every £500 spent on the Card each calendar month), which can all translate into even more days out, making family time at home as much fun as a main holiday away from home. Nectar runs double points promotions throughout the year with Ask Restaurants and The Tussauds Group points currently being worth double.
New Nectar Credit Cardmembers can benefit from 5,000 Nectar bonus points worth a minimum of £25, and up to £50 (when redeemed with selected brands) when the Cardmember spends £500 in the first three months.
Top Five Family Days Out:
According to The Nectar Credit Card research, most popular holiday day trips and treats being planned by parents this Summer are:
Day trips to the seaside or fun fair (47%)
Visits to theme parks (40%)
Family picnics (37%)
Swimming (27%)
Shopping trips (23%)
Trips to the cinema (23%)
Top Five Free Activities at Home:
The research revealed most likely ‘at home' activities to keep the children occupied are:
Playing in the garden with siblings or friends (56%)
Playing at the house of friends locally (53%)
Playing computer games at home (51%)
Watching TV/ dvds (50%)
Walks/bike rides (45%)
Financial Expert, Jasmine Birtles offers her advice and top tips to families facing the expensive summer holidays; "It's tougher than ever for parents to keep their children entertained on a budget through the long summer holidays. However, there are lots of ways to get things for free or for much less if you're a bit savvy and you know where to look!"
Get into house-swapping. It's a fantastic money-saver for families. You swap your home with a family in Britain or anywhere in the world and all you have to pay is the travel costs.
Use your reward points. Save up Nectar points on all your shopping, particularly by using your credit card, and spend them on free days out to attractions like Alton Towers or Legoland.
Swap paid fun for free fun. You don't have to pay for tour buses and special bus rides. Many normal buses have great routes through cities and if you print off factsheets about the place you're visiting you can be your own guides. Rediscover the fun of picnics. Even simple sandwiches, drinks and lollies eaten in your garden can be as much fun as going out to a restaurant.
Get cultural. Make the best of wet and windy days by visiting free museums and galleries. It's surprising how many great cultural centres are free to visit. Go to Visitbritain.co.uk for a long, long list of places you can go to for free. Just make sure you don't spend any time in the gift shop!
Get free laughs. If your children are a bit older you can give them free entertainment by being part of the audience for TV shows. Go to the BBC website or Lostintv.com for upcoming shows.