Balanced budgets can help families prevent summer hurting their finances for months to come - Vikki Brownridge

We’re in the middle of the school holidays – six weeks that in today’s society can feel expensive, especially if you’re also having to reduce your working hours or incur additional childcare costs. It’s no surprise that worries about incurring debt over this period may loom.

We know that parents with school age children can be particularly vulnerable to financial struggles.

YouGov polling we commissioned at the start of summer revealed almost half, 46 per cent, of parents with at least one child under 18 have found it difficult to keep up with bills and credit commitments in the last few months, compared to 37 per cent of the wider population.

At StepChange we understand those difficulties, and can offer some strategies to help you enjoy the holiday period without building up debt to pay for it.

If you haven’t already, then make a budget to cover the rest of the holidays. Look at your household income and your essential bills and spending, and work out what income you have left over for holiday activities.

Tempting as it may be to get drawn into using ‘free’ credit such as Buy Now Pay Later, ideally try not to rely on any kind of borrowing as part of this budget.

Even free credit just postpones the day when you have to factor in the cost of paying it back, and if it doesn’t feel affordable now, it may not feel any more affordable later. You may find that you can have a fun summer without borrowing by taking advantage of free activities, cheap deals, and by being creative.

Questions to ask yourself before you spend are: Is it necessary? Is it affordable? Can I do without it? Spending more money isn’t what makes you a great parent during the holidays – memories and good times can come from the simplest things like art and craft, walks, bike rides, free museums, libraries, picnics and free community events.

Lots of local councils offer free and subsidised summer events, and if you have children eligible for free school meals you may be able to get even more support with holiday activities.

For any family on a budget, food costs are a big component of the cost of living and these can feel higher during the holidays, when life may be less structured and it may be tempting to indulge in more treats and meals outside the home than normal. Kids-eat-free or cheap family meal deals can help, or taking a simple picnic is a cheap and healthy option that puts you in full control.

Before long, when it’s time to prepare for back-to-school, all those savings will be worth it when set against the cost of the uniform, shoes and supplies that so often stack up as essential late summer spending for families. Do check out your school’s uniform shop which will often have cheaper and near-new items that others have recently grown out of.

As we head into Autumn and the heatwave days become a memory, there will be plenty of competing priorities for your spending – not least the cost of energy, as consumption begins to rise again over the cooler months.

By working to a balanced budget, you can reduce the risk of the distractions of the summer knocking your finances out of kilter for months to come.