Family law
The cost of summer holidays: How much did the six-week break cost families?
As the cost of living continues to increase, so too did the cost of summer holiday activities. Our research reveals how much people were spending on additional activities during the summer holidays and where families were cutting back to save this money.
Everyone looked forward to the summer holidays and all the activities, trips and adventures they brought, but amidst all the excitement, they still needed to be factored into the budget. For many families, this will have caused significant stress on the relationship and for those co-parenting, the ambiguity of who shoulders the responsibility may have made already fraught relationships worse.
Family budgets for summer holidays
Our recent research reveals that, on average, people were expected to spend an additional £517.85 per child over the summer holidays. With the cost-of-living crisis, for many families, this is a lot of money to have set aside. In addition, not being able to save money within the current economic climate can be a significant cause of stress and place strain on relationships. In fact, one in four parents say the summer period is ‘very financially stressful’.
Our research also revealed single-parent households reported cutting back more aggressively than co-parenting households and one in five parents admitted to feeling pressure to outspend their co-parent over the summer holidays with mothers being more likely to feel this pressure.
In previous research we have conducted, we found that in a survey of over 2,000 people, nearly a third of spouses named the cost-of-living as a main reason for starting divorce proceedings, and 52% overall listed financial stress as a cause for divorce. This further proves that financial arguments and money stress can ultimately lead to the breakdown of a marriage.
How can Slater and Gordon help?
Finances can put a lot of strain on relationships, and life might no longer look the way you thought it would. Moreover, co-parenting can be difficult to navigate if the relationship is already fraught and who bears the responsibility for additional costs over the summer break can cause further arguments. This is why we always suggest working with a family solicitor who can help you navigate these difficult times and arrange for a formal agreement to be put in place to ensure all parties know where they stand and feel supported.
When making life changing decisions, it is important to know you have lawyers on your side, prioritising what is best for you and your children. Our leading team of family law experts are here to support you in all of your family law needs. We have expertise across all aspects of family law including:
- divorce,
- child custody,
- child maintenance, and more.
Start your journey today and contact us for an initial consultation. In this consultation our leading experts in family law can offer advice specific to your situation and offer guidance on what to do next.
Call us today on 0330 041 5869 or reach out online here.
