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78% of families worry they won’t be able to afford making family memories

September 10, 2020 08:44am
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  • Current economic pressures mean average family brings in £396 less per month

  • Treasured family moments stack up to £2,327 a year

  • To mark return of Asda’s iconic ‘Pocket Tap’ ad celebrating ‘Asda Price’, Asda teams up with money saving experts for ‘Tap Tap Talks’ series, helping families save for the moments that matter most

Following a turbulent few months, family time has never been more valuable to Brits, however, it comes with a price tag.

New research* by Asda shows the annual cost of treasured family moments – such as kids parties and days out – stacks up to £2,327 a year.

However, 4 in 5 (78%) Brits are worried they won’t be able to afford this with current economic pressures seeing the average family bringing in £396 less per month.

The research – marking the return of Asda’s iconic ‘Pocket Tap’ ad celebrating ‘Asda Price’– reveals that weekend activities take their financial toll. Favourite family days out in memory-making places like the zoo and theme parks cost on average £185 per visit (for a family of 4).

Celebrations and festivities all add up as well. Bouncy castles, face painting, clowns and magicians mean the average family spends £404 per year throwing kid’s Birthday parties, with 2% spending up to £1,000. And the expense doesn’t stop with your own kids, birthday gifts for other kids’ parties add up to on average £178 per year.

The cost of going back to school is another worry for parents. Many mums and dads are glad to see their children in the classroom again, but financial pressures are a constant concern. The mounting cost of uniforms, backpacks, books, technology and lunch boxes mean the average cost of sending one child back to school is £226, increasing to £452 for two kids and £678 for three.

To help families save and find more ways to make special memories together, Asda has teamed up with money saving experts – including Emmanuel Asuquo – to launch a series of ‘Tap Tap Talks’. With family incomes declining due to COVID-19, Tap Tap Talks will give hints and tips to save money – leaving more of the monthly budget for the moments that matter most.

Emmanuel comments:During these times of uncertainty, there is so much value in time spent together as a family making special memories, but this doesn’t always come cheap. I have teamed up with Asda to share my money saving tips for families to help cut costs so they can save for the moments that really matter. Making changes like selling unused items online, creating budgets with your children, and opting for own brand goods if they are cheaper, plus many more, means families can make their budgets stretch further to focus on what they value most.”

An Asda spokesperson said: “We know that saving money is more important than ever for our customers. This September Asda has brought back the famous pocket tap through the ‘Asda Price’ campaign, launching Asda’s great big rollback event – featuring a £100m investment to lower prices on thousands of own label and branded products across food, baby and toys.

“To help families get even more value, we’re launching a series of ‘Tap Tap Talks*’ partnering with a selection of experts, including TV’s Emmanuel Asuquo, to share tips and tricks over September and October. Like many of our customers, Emmanuel is a busy parent of four, so knows family life only too well and can provide helpful advice from his own experiences to help others. The current climate means many families across the country will be making cutbacks, but with great value and deals on offer, Asda customers won’t have to compromise on having those valued family moments.*”

Top ten money saving tips from Emmanuel Asuquo to help families afford making memories together:

  1. Opt for own brand in the supermarket if it’s cheaper than the alternative

  2. Packed Lunches vs School meals

  3. Make the household shopping budget a family project

  4. Sell unwanted items online

  5. Rent out things you’re not using

  6. Switching your Gas & Electricity suppliers annually

  7. Check mobile phone contracts

  8. Consider a Staycation in 2021

  9. Utilise your savings allowance

  10. The 48-hour rule

In celebration of bringing its famous pocket tap back to screens, throughout September and October, Asda will launch a series of ‘Tap Tap Talks’, designed to arm the nation with money-saving hacks, tips and tricks in collaboration with experts across food and home. Posted on Asda social channels, Brits will be able to follow guidance to help stretch their budget, save, and spend on moments they value.

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