56% of parents sign kids up for summer activities

 

TORONTO

According to a recent survey from TD, 71% of Canadian parents with children under the age of 18 who incur additional costs for their child during the summer spend up to $999 per child and half (51%) find budgeting for these additional summer costs stressful.summer-camp
Not surprisingly–more than half (56%) of Canadian parents sign up their kids for additional activities or programs during the summer. The most popular ones include:
• Family vacations (55%)
• Classes – e.g. swimming, dance (53%)
• Day trips – e.g. zoo (51%)
• Summer camp (49%)
• Sporting activities (46%)

TD offers these top five tips to help parents avoid the financial heat that summer can bring:
1. Check your rewards balance – redeem some of your loyalty rewards, such as points from your First Class Travel Credit Card, to help fund activities and travel
2. The early bird gets the worm – some organizations may provide a discount on early registration
3. Budget and start saving early – save a little money each month and put into your TFSA
4. Shop around – municipally-run activities through community centres or the parks and recreation department often offer lower cost programming
5. File your receipts – some summer costs could be tax deductible as a child care expense or under the child fitness tax credit on your tax return

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