Holiday childcare costs in Wales have increased by 163.84% since 2014

The Increasing Cost of Holiday Childcare in the UK

• New research from Moneyboat has revealed that holiday childcare prices are rising at a faster rate than inflation throughout the country, and forecasts what parents can expect to pay come 2030.
• Whilst the overall inflation rate in the UK from 2014-2023 was 32.25%, holiday childcare costs in Britain have seen prices increase by 63.61% on average during the same period.
• Parenting Coach Isobel Mary Champion has also provided some expert commentary on the data along with some useful tips for parents on saving money on holiday childcare costs.

With the school summer holidays right around the corner, there will be many parents budgeting for the cost of holiday childcare for the summer as prices for childcare have risen considerably in the past decade. Whilst inflation has been relatively high in recent years, have childcare prices risen at the same rate or have they increased even further?

Well, new research from Moneyboat into the cost of holiday childcare from 2014 to 2023 has revealed that prices have risen at almost double the rate of inflation over the same period. The table below shows how much weekly holiday childcare prices have risen across Britain, along with how much parents can expect to pay come 2030 if prices keep rising at the same rate:

UK inflation rate from 2014 to 2023 = 32.25%

The research shows that prices throughout Britain have risen much quicker than the UK inflation rate over the same period, with Wales seeing by far the biggest jump with their weekly holiday childcare prices increasing by 5 times more than the UK inflation rate over the same period.

Greater London has also seen a staggering increase in prices since 2014, as their weekly holiday childcare costs have almost doubled during that period. The North West has seen the lowest increase in prices at 43.70%, however that is still over 10% more than the UK inflation rate.

Parenting Coach Isobel Mary Champion has provided some expert commentary on the research along with some helpful tips for parents looking to save money on childcare costs ahead of the summer holidays:

“There are so many summer camps and activity clubs available these days – the choices are mind boggling! Coding camps, robotics camps, math camps, sports camps, performing arts camps, craft camps – there is a big trend and thriving market for holiday activities right now, and parents are often in a race against time to book their child a place at the best clubs! Not surprisingly, the providers are cashing in on this trend.

“But we often forget that children don’t need a fully booked calendar of pricey activity camps, and that there are much simpler and more pocket-friendly ways of finding holiday childcare. Sharing childcare with another family is a great idea – suggest taking turns to look after each other’s children once or twice a week (people will be surprisingly willing to agree to this, and the kids will love it!), and do ask all available relatives for regular childcare help – aunts, uncles, grandparents, godparents can all enrich your child’s life (never be afraid to ask, these people are all part of your child’s network of support).

“If you have two or more children, then the cost of summer camps and activity clubs really does skyrocket! Paying per child for an activity isn’t always the best option for larger families, so it might be worth considering another childcare option that doesn’t multiply in cost depending on the number of siblings, such as hiring an au pair for the summer (one of the cheaper childcare options), or asking any students you know if they would like to gain some babysitting experience over the summer.”

Credit to: https://www.moneyboat.co.uk/blog/saving-money/.