BBC Radio Scotland guest appearance (How to survive the summer holidays)

It’s been a real honour to appear on BBC Radio Scotland 3 times now over the last few weeks, which I’ve been told means I can say I’m a regular contributor to the show now. We’ve cover the cost of living crisis for families; how to teach your kids about money, as well as the challenges with teenagers and money on MoneyBox.

i firmly believe we should be out there sharing the wealth of knowledge we have, breaking down barriers and lifting people up. There’s a huge gap in financial education and it starts with making money a topic around the dinner table, being more open , sharing pain points, discussing ideas and solutions. Thats why shows like BBC Radio Scotland with their money segments can be invaluable, giving many some easily digestible hints and tips that can create big impact in their lives.

Out latest discussion covered some interesting research which showed that A recent study by Scottish Friendly confirmed that over the summer 6 week break parents can spend on average an additional £1,002 per child. In London, its £1,416 per child. 

That’s a significant increase for many factoring in child care/ activities/ sports camps and in all likelihood I suspect it will be even higher for many.

Its something we discussed live on air with BBC Radio Scotland recently, so here’s my top tips to navigate the summer months successfully for your parents/ grandparents and everyone in between:

Plan Ahead - Ideally, you’ve already squirrelled away the extra cash you’ll need to keep the kids suitably entertained over the summer. If not, you can start on the that now, put away little and often, it all amounts to something significant over time so you can be prepared

Map it out - Those that take the time and are deliberate with how they’ll spend their time, will use their money on the things that serve them and minimise any wastage. Break it down week by week, day by day and you’ll find you’ll use your money much more efficiently. Its not a budget, its a spending plan (so much more positive) and having that structure can create big impact

Have a no spend day - Make a packed lunch and get off into nature; go on a ramble through the forest (you’d be amazed at all the chocolates those fairy’s leave behind for the kids :); head off to the beach, a park, the museum. There are so many fun adventures you can have you and the kids will love. Get creative! I actually think these are my favourite days, its a lot of fun

Be honest - Parenting is a rollercoaster and its hard during the summer months. Be honest with your employer (where applicable) and see what flexibility they can offer you. Good employers will work with you to support and ease the strain

Use your benefits - If your earnings are below £100k, you can benefit from Tax Free Childcare where the government will give you up to £2k per child each year (up to £4k for kids with disabilities). For example, If you put in £8, they’ll give you £2 on top which can be used for nursery/childcare and even some holiday clubs. Available for under 11s (or up to 16 if your child has additional support needs).

This is a significant benefit that too many are not making use of. Lean in at Tax-Free Childcare: What Tax-Free Childcare is - GOV.UK

It takes a village - Its easy to feel its all on your shoulders but it truly takes a village to bring children up in life, from teachers to carers, babysitters, friends, grandparents, siblings and so on it goes. Make use of those around you to support you where available/ give you a break/ mix up the weekly routine and keep it fresh for you and your kids. It might be a day with the grandparents and a few days at kids camp to break it up a bit/ give you the room to work though the weeks. Don’t hesitate to ask for the support, its a strength to do so.

You are a hero - I’ll be the first to tell you, you are a legend. Parenting is hard, its exhausting and stressful, but also brings an incredible amount of joy for us all. You are enough, you are doing your very best and that’s all anyone can ask for. Focus on you (you need a break as well), your family and keep trying to find the balance that works for you. You’ve got this.

A poignant message - If you’ve seen the recent Toy Story 5 in the cinema (its epic) you’ll know it presents a rather deep message about the power of tech that’s invaded our lives.

We are almost forgetting the joy of play. Unstructured, messy, imaginative play - this is when we see our kids at their best. Lean into their creative minds, sometimes all you need to do is get them started and their imaginations will fly (and maybe give you a moment to check an email or two)

PS rest assured tv at times is perfectly valid. Sometimes you just need them to sit still while you make the dinner/ do a work call and know they are there safe. So don’t feel any guilt for it, do what works for you.

Bring on the next show!

Keith Boyes

Chartered Financial Planner

Spentwell.