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Parents fear school holiday debts
Most parents expect to run up debt because of the school holidays
Almost two-thirds of parents expect to find themselves in debt from having the children home during the school holidays, a poll has revealed.
Of the 64% predicting holiday debt, the average parent will overspend by £126.95 while 8% will rack up a debt of between £250 and £500, according to the survey for the Morrisons supermarket chain.
Almost a fifth of parents (18%) say they are dreading the holidays because of money pressures and 53% are more concerned about the financial impact of the break than they were last summer.
The poll of 1,600 members of the Netmums website found that parents are expecting to spend an average of £31.59 more on each child per week over the holidays on food, entertainment, childcare and days out.
Almost a fifth (17%) said they will sell or pawn possessions and 15% will borrow on overdrafts or credit cards to pay for the additional expenses, while 12% will borrow from friends or family.
And more than half of parents (53%) plan to take on additional work over the summer at an average 4.9 hours a week.
Netmums founder Siobhan Freegard said: "It's an extremely worrying time for parents, who are already feeling the pressure of the economic climate and are faced with the issue of having to fork out for meals and additional childcare which would normally be fulfilled by the school during term time.
"It's of particular concern that getting into debt - or worse, defaulting on household bills - are measures being considered as options by worried families."
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