How much will parents in Worcestershire and the West Midlands spend entertaining their children this summer?

A new study by Post Office Money says parents in the West Midlands will spend a total of £510 keeping the kids occupied this summer – compared to the national average of £468.

Parents in London are set to spend the most (£870) and parents in Scotland the least (£318), the survey reveals.

The poll found that more than half of parents in the West Midlands (52 per cent) are worried about covering the cost of entertaining their children during the summer holidays, while eight per cent say they expect to put things on their credit card to cover the increased cost.

Nearly half (44 per cent) feel pressurised to keep up with other parents when spending money on keeping their children entertained, and 24 per cent say they would consider sacrificing putting money into their savings to pay for the summer holidays.

Entrance to attractions and theme parks is what parents expect to spend the most on (40 per cent) over the summer holidays, and the average West Midlands parents expect to spend £50 on childcare during the summer.

Owen Woodley, managing director at Post Office Money, said: “There can be many hidden costs over the summer months and while two in five parents we spoke to have the cash to cover these additional costs, many do not.

"Thirteen per cent of parents told us they are planning on dipping into their savings, nine per cent will draw on their credit card and some families are even saying they’re likely to miss bill payments or even take a mortgage holiday to help manage this overspend."

Post Office Money’s top five tips to prepare for the costs of summer:

1. Plan ahead – outlining your intended weekly spend during the summer months can help you stick to your outlined budget and avoid any unanticipated overspend.

2. Where you spot a shortfall and are likely to need to rely on credit, make sure you have the right credit product for your needs. Don’t risk going into an unapproved overdraft.

3. If you’re going to use a credit card – do you have a 0% card so you have longer to repay and are not caught out with interest charges.

4. Track down deals online in advance, e.g. 2 for 1 offers can be found for theme parks, the cinema, family days out and restaurants.

5. If travelling by train you can keep the costs down if you book tickets in advance and avoid travelling at peak times.