Parents 'to spend £5.29 billion keeping kids busy this summer'

16 August 2007
New research has indicated that parents in the UK will collectively spend over £5 billion keeping their children entertained this summer.

This figure from Sainsbury's Bank works out at around £507.80 each on pursuits like going to the cinema, shopping and buying toys.

Parents may also be paying for family holidays, which can prove to be expensive, especially if an accident occurs and a travel insurance policy has not been taken out.

"Kids depend on mum and dad for everything, not just during the holidays, but throughout their whole childhood," said Claire Moyles, life insurance manager at the firm.

"Parents need to consider how their families would cope financially should something happen to them."

Earlier this week the Association of British Insurers commented that those who opt to take out travel insurance should always check the small print.

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