Parents spend more than £2,000 a year on ‘making memories’ with their children, study finds

Going on a day trip to somewhere different is a favourite way to make memories for half of mums and dads

More than a third of parents love to host elaborate birthday parties for their children (iStock)

Parents spend £2,327 a year on ‘making memories’ for their children – including birthday parties, trips to theme parks and outings to the zoo.

A study of 2,000 mums and dads of six-16-year-olds revealed the true cost of family time – with Easter, Halloween and Christmas adding up to £727 a year alone.

Trips to the zoo, theme parks and the cinema come in at £541 annually for the average family, with activities such as bowling, mini golf or pottery painting setting parents back a further £186.

Going on a day trip to somewhere different is a favourite way to make memories for half of mums and dads, while 44 per cent enjoy going to the cinema.

And more than a third love to host elaborate birthday parties for their children – spending a total of £581 on hosting their own and attending other people’s get-togethers.

However, 78 per cent of those polled worry about being able to afford these precious family moments.

The research, which was commissioned by Asda, also revealed the importance of quality family time, with 68 per cent enjoying watching their children grow up, and 54 per cent valuing the experiences they share.

A further two-thirds like to create memories for both themselves and their family, and 42 per cent enjoy the adventure of outings together.

But nearly two out of three parents worry that if they can’t afford days out together, then they won’t be able to build their relationship with their family.

It also emerged that British parents value family time above anything else – including holidays and a good work-life balance, and more than half treasure it even more so in light of recent events with the pandemic.

The impact of coronavirus is evident, putting pressure on family finances as the average household has missed out on just shy of £400 every month.

It also takes the average parent nearly two months to save for a family day out together.

The research, conducted via OnePoll, also found 86 per cent agreed you can’t put a price on quality time and making memories with your family.

But 64 per cent said financial struggles can be a barrier to them having more moments together with their loved ones.

And more than half of parents are now less able to afford trips, even sacrificing days out together as a result of the current economic pressures they face.

SWNS