Parenting expert's tip to beat 'skyrocketing' childcare costs

Child playing with money
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As the summer holidays nears, some parents are facing a brutal rise in the cost of childcare while school is out. New research shows that the cost of holiday childcare is rising faster than inflation throughout the country, with parents paying on average £61 more this summer than they would’ve 10 years ago.

The Moneyboat study revealed that the overall inflation rate in the UK between 2014 and 2023 was 32.25 per cent while the cost of childcare specifically rose by nearly double at 63.61 per cent during the same time period. With many parents struggling to budget the cost of childcare for the summer, parenting coach Isobel Mary Champion shared some savvy tips for savers this summer.

Isobel emphasised that parents should be looking at alternative childcare options that may offer bigger savings in the long run such as summer camps and activity clubs with a variety available throughout the country. She shared: “There are so many summer camps and activity clubs available these days - the choices are mind-boggling!

However, she admitted: “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, or asking any students you know if they would like to gain some babysitting experience over the summer.”

Isobel also advised families to turn to the trusty phrase ‘it takes a village’, saying: “Sharing childcare with another family is a great idea - suggest taking turns to look after each other’s children once or twice a week and do ask all available relatives for regular childcare help - aunts, uncles, grandparents, godparents can all enrich your child’s life.” For those that may be a bit shy around asking for help, Isobel added: “These people are all part of your child’s network of support”.

The Moneyboat study found that parents in Wales are facing the biggest shift in cost as they pay £104 more this year than in 2014 and London had the highest rate this year at £168.66. While the North West has seen the smallest increase at £44.36 and the East of England has the lowest average cost this year at £142.31.

Looking to the future, Moneyboat predicted that the average cost for holiday childcare in 2030 will be £230.44 if it continues to increase at the current rate. The increases will see Wales overtaking London as the most expensive area with a staggering £357.71 fee while North West will take the cheapest title at an eye-watering £193.38.