Parents spending £516 a month feeding the family

13th October 2023

New research from TopCashback has found that families are spending on average £6,192 per year on food – approximately £119 per week or £516 per month

In the last three months, parents say the cost of their essential groceries has increased by 46%, considerably higher than the latest ONS statistics* showing food inflation at 13.6%

The research found that an additional £126 per month is spent by parents on extra-curricular activities and around £113 on pocket money

The new insights reveal that parents are spending an average of £130 a month on items for packed lunchboxes, £243 for home cooked meals and £143 a month on eating out.

Overall, spend on essential groceries by parents in the UK has rocketed by 46% in the last three months, while money spent on other essentials also climbed, with essential toiletries increasing by 34%.

Both are considerably higher than the latest ONS statistics, which show food and non-alcoholic beverages inflation at 13.6%.

Adam Bullock, UK Director at TopCashback said “Our research uncovers the extent to which purse strings are being stretched for families across the UK. With thousands of pounds spent each year on food alone and hikes of 46% on average, it’s no wonder that parents feel immense pressure to prioritise their spending and plan for the future. While many have cited inflation falling as good news, the true cost of putting food on the table is still astronomically higher for millions.”

How Britain Spends also revealed that parents with dependent children under 18 living at home are spending beyond their means for more than a quarter of a year on average (just over three months) – with an average of £179 left in the bank the day before payday.

This includes spending almost £2,000 a year on basic clothing and back-to-school items, including school uniform and equipment.

On top of this, there’s also the cost of keeping the family entertained, with TopCashback’s research revealing that in the last three months parents spent £130 on average on treats for their children each month, with an additional £126 per month on extracurricular activities and around £113 a month on pocket money.

Bullock added “It’s more important than ever to prioritise savvy spending, especially as we head towards costly winter bills and the festive period. While prices for essentials remain high, there are small and simple changes that can help people make the most of their hard-earned money. We’d encourage everyone to shop around as much as possible and make use of cashback, loyalty schemes and discount codes at every opportunity. In a time of high inflation, any changes – however small – can make a huge difference.”