Mums and dads under pressure to pay for family holiday

Summer can be an expensive time of year for parents - and if money is already tight, a family holiday might seem out of reach.

But the pressure to provide a summer holiday with the kids can be overwhelming.

Parents using savings to pay for holidays

In a poll by Airbnb, more than two-fifths (42%) of parents with kids aged five to 18 said they feel they have to book a summer holiday, despite being short of money.

Nearly three-quarters (71%) of these people have already booked a trip away.

But in order to pay for it, some are taking short-term decisions that could put their longer-term financial health at risk.

For example, one in three (33%) said they’ve used savings to cover the cost.

Meanwhile, almost four in ten (38%) have borrowed or been given money by relatives.

"Family holidays are about much more than time away,” said Lisa Marcais of Airbnb.

“They’re an opportunity to reconnect, improve wellbeing, create invaluable memories and have new experiences together.

“But for too many families in the UK, rising costs mean that even a short break is out of reach."

What can I do to cut the cost of a holiday?

If you’re worried about the price of booking a holiday, it’s worth looking at where you can trim costs.

For instance, you could travel during off-peak dates, book as early as you can and compare travel websites before booking.

Check out our 60 ideas on how you can cut the cost of a getaway either at home or abroad.