Costs add up quickly for families during the summer
Summer fun has a grip on everyone. For many families that means beach vacations, trips to amusement parks, and day camp for kids. These activities are a great way to spend the dog days of summer, but they can have a burden on our wallets. According to a new Pearachute survey, summer family spending adds up fast.
Pearachute Summer Spending Survey 2019
In an effort to learn how parents are budgeting their summer spending, Pearachute conducted an online survey of 600 parents. For context, 76 percent of parents reported having 1 or 2 children. 55 percent of respondents had a household income over 100k, and 45 percent reported under $100k. Checkout some of the biggest takeaways from Pearchute’s family summer survey below.
The survey focused on 4 major categories that most families account for when budgeting out their summer. If you are a family that uses summer childcare services, sends their kids to summer camp, takes a family vacation and day trips … you are bound to spend $10k this summer.
63 percent of families are paying for childcare this summer
School is out, the kids are home, but you still have to go to work. Summer schedules can be just as crazy as during the school year. Therefore, many parents resort to hiring a nanny for the summer. They bring their kids to daycare, nursery school, or occasionally get a babysitter or family member to help out. According to the survey, 63 percent of families reported having to pay for summer childcare in one form or another. With 11 weeks of summer, childcare costs can start to add up quickly. With the average cost of child care being $1,814 for the summer, it can be even more costly for parents with multiple children and need help 5 days a week. Some families estimated childcare costs to from $5,000 to $10,000 for the summer!
On average, families are spending $2,344 to send their kids to camp this summer
How do we keep our children engaged with new ideas and spending time with their peers? 52 percent of families are sending their kids to summer camp. Just like childcare, summer camp can get expensive. The estimated average per day at camp is $159. Most parents have multiple children, therefore they are paying for more than one camp. Families are paying for, on average, about 2 weeks of summer camp, which totals to $2,344. And that’s only 2 weeks out of the summer. …
4 in 5 families are planning to vacation this summer, spending on average $2,232
Some of our greatest memories growing up comes from our summer vacations with family. It’s no wonder, 4 in 5 families are expected to take a vacation this summer. Whether you are planning a fun weekend getaway, a week long beach trip, or a staycation with fun day trips — family vacations have plenty of travel expenses. (See chart below)
And don’t forget about daily entertainment …
After accounting for childcare, summer camp, and vacation costs, you can see how costly the summer lifestyle can get with children. And that’s excluding other family fun activities. Families will also accumulate costs from eating out as a family, going to the movies, museums, play spaces, pools and waterparks, and plenty more! Families are spending on average $2695 on entertainment activities for the entirety of summer. (See chart below)
When summer is all said and done, the average family will have spent over $10K. At Pearachute we want to help parents budget their family summer spending and minimize their expenses while also offering the best in family entertainment. Try Pearachute today to easily find family activities such as drop-in classes, museum admissions, waterpark passes, summer family concerts, and more!