Brits splash the cash on summer

Even with the rain clouds gathering over the British summer, new research from BM Savings reveals the average amount Brits spend enjoying the summer months.

A fifth (19%) said they would spend up to £500 on summer activities, with average spend on staycations and days trips topping the list (£240 and £140 respectively). One in eight (13%) said they would spend more than £1,000 on summer this year, with the biggest spend on staycations (£240).

Despite Brits being gripped by tennis and cricket fever over the summer months, only £10 is spent on playing summer sports, respondents preferring to spend on average £98 and £82 on a summer tipple and summer fashion.

Alfresco dining

BBQs are a firm favourite with 17% spending up to £50 on alfresco dining essentials, despite the fact that over the last 5 years the traditional BBQ shopping basket has increased 20%. Over a fifth (21%) said they would spend the same amount on summer fruits including strawberries. However, as temperatures rise 14% would spend up to £10 on ice creams and lollies to cool down.

Temperature and price rises

Despite the vast majority (87%) of Brits thinking the cost of these summer items have generally increased since the same time last year, over a third (36%) would still buy them.

John Bianco, Head of BM Savings said: "The British summer is synonymous with BBQs and day trips and despite the increasing cost of the summer, it's encouraging to see Brits are continuing with this tradition. Consistently putting money away is a great way to ensure savings are there for upcoming summer holidays. There are some great accounts around at the moment for those looking to get the most out of their savings pot, including our inflation tracker bond and ISA for those concerned about the effect of inflation on their savings."