As parents breathe a sigh of relief at the approach of back-to-school week, their wallets may be feeling a little less strained than last year.
Spending to kit kids out for the new school year is down, with the average outlay per pupil falling to £236 from £240 in 2014, according to a survey by the credit card unit of Santander UK, the bank that sponsors Transport for London’s bike-hire scheme.
The school uniform accounts for the biggest single item, with an average outlay of £40, up from £39 last year, while spending on smaller items including lunch boxes and sports equipment has fallen, according to the survey of just over 2,000 people.
The total back-to-school bill still comes to an estimated £2.9bn, Santander says.
But that’s a drop in the ocean compared with the weekly cost of keeping your child in school. Parents shell out an average £52 a week on items like school trips, packed lunches and extra-curricular activities, up from £50 last year.
That adds up to £628m per school year, or about £2,028 per child. But don’t worry - we’re sure Santander can ease that burden with its cashback credit card....