Personal loan to cover holiday spending?

Fri, 21 Jul 2006

Data released today shows that parents will spend around £1.6 billion over the school holidays, though a personal loan could help cover expenses over the long break.

Entertainment will collectively cost families around £160 million per hour across the country, with average expenses totalling £125 per family on days out to Blackpool Pleasure Beach and the London Eye.

And parents eager to ensure their children do not miss out on fun might need personal loans to cover the £75.84 per week it costs to enrol offspring on a play scheme.

Peter Jackson, head of banking and savings at Halifax, said: "The summer holidays provides parents with precious time to spend with their children and enables them to make the most of fun days out together.

"However, parents can only relax and enjoy themselves if they have adequate financial plans in place."

The news follows new research released last month from Abbey, which states that parents may miss out on 30 per cent of their wages, with ten per cent of parents stopping work altogether during the six-week break.

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