Kids’ summer fun costing parents $2,300: survey
Canadian parents will spend an average of $2,300 keeping their children busy this summer, according to a Bank of Montreal survey.
The report on spending habits suggests the average parent will drop $54 per week on entertainment, $58 on eating out and $65 on impulsive purchases this season –more than during any other time of the year.
Parents in Ontario and Quebec had the highest average weekly expenditures at $200 and $193, respectively. Atlantic parents were the most thrifty, spending on average $113 every week.
B.C. parents fell in the middle, spending about $153 a week.
While fathers were especially prone to overspending, they were less likely to own up to it, according to the survey.
BMO also found parents are more likely than non-parents to look for ways to save money, including looking for deals.
The online study was conducted by Pollara, which surveyed 1,513 Canadians over the age of 18 between May 23 to May 27.
It has a margin of error of plus or minus 2.5 per cent, 19 times out of 20.