Most parents dread the summer holidays. Not only is there childcare to worry about, but the cost of going back to school can make a major dent in finances. In just two weeks the kids will be going back to school, and that means new uniforms, school shoes, rucksacks, pencil cases, pens, calculators, even iPads in some cases. With £180 being the 'average' cost of going back to school, My Favourite Voucher Codes is concerned about how parents plan to pay this added expense. According to a new study by the Money Advice Service, a fifth of parents will use savings, yet 16% will turn to a credit card, 8% an overdraft, and 2% a loan.
This dependence on borrowing is a real worry, as earlier research found that the average cost of school over 12 years is a whopping £5,000. This means parents could be in serious trouble, if they continue to use high interest borrowing to fund the expense. These money worries have not gone unnoticed by some lenders, with Albemarle Bond pawnbrokers taking advantage of parents’ financial situations. This '£180' in September could really push finances over the limit, as another study found that parents spend almost £2,000 on their children over the summer holidays.
However, instead of relying on expensive credit, parents could take advantage of online voucher codes to cut the cost of going back to school. Some schools make parents buy through approved suppliers, but if not, the cheapest place to buy is at the supermarket. They often run their own discount schemes, so when combined with supermarket voucher codes, they can save parents hundreds of pounds.
For example, Asda voucher codes offer up to 50% of childrenswear, while Tesco voucher codes also have 50% off when you spend £20 on F&F Clothing - which includes school uniforms. You can also get 20% off school uniforms with our Debenhams voucher codes. Parents can also save on shoes with Shoe Zone voucher codes and get up to 90% off pens and pencils with voucher codes for One Click Stationary.
Julian House, founder of My Favourite Voucher Codes, said: "Back to school costs are an added burden to overstretched finances, but parents can avoid paying anywhere near £180, by being savvy shoppers and using discount voucher codes. By doing so, they’ll not only be saving themselves money, but donating to charity at the same time, as 20% of our monthly net profits are gifted to a different organisation each month."
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