LONDON, ENGLAND, September 03, 2010 (Press-News.org) LV='s new Cost of a Child study has found that parents will spend GBP709 million* on 'back to school' basics including uniforms, stationery, sportswear and winter coats as parents prepare to kit their children out for the start of the new school year. This is equivalent to parents spending an average of GBP122 on their children. This rises to GBP139 for secondary school aged children, compared to GBP96 for infants. Parents living in London spend the most preparing for their kids to go back to school at GBP158 on average.
Despite many families continuing to feel the squeeze in the current economic climate, 46% of parents expect to spend a greater amount this year on 'back to school' items than last year. When asked to consider the financial pressures of kitting their kids out for school, 48% said they are feeling the strain of having to spend 'excessive amounts', rising to 64% among parents in the North East.
54% parents are considering using low cost suppliers for back to school items, such as supermarkets to buy basics like uniform and stationery, and 23% are considering second hand items, including hand-me-downs and goods from charity shops or eBay. This rises to 70% and 41% respectively for families in the South East.
Mark Jones, LV= head of protection, said: "It is surprising that many parents are responding to increased money pressure this year by spending more on back to school basics; clearly kids come first despite the downturn. And it's even more surprising that many parents are spending more despite looking at ways to be frugal and economise, by purchasing from cheaper suppliers such as their local supermarket or eBay."
The annual LV= Cost of a Child study shows that parents are now likely to have to shell out more than GBP201,000 on raising a child from birth to the age of 21**. This equates to GBP9,610 a year, GBP800 a month or GBP26 a day. Education (not including private school fees) remains the second biggest expenditure behind childcare, costing parents GBP52,881 over a child's lifetime - an increase of 4% on last year.
Mark Jones continued: "GBP122 is a lot of money for parents to spend kitting kids out to go back to school, and that's just one small part of the expense of raising a family. So it is important that parents try to look beyond the short term and ensure they have suitable budgets and long term financial plans in place. Whilst it may seem that cancelling insurance policies or protection plans is a good way of stretching the family budget, it's really important to keep the bigger picture in mind."
Notes to editors
* Research carried out online from 6-10 of August 2010 by Opinium Research on behalf of LV=. Sample size 2,013 adults, with 404 of those respondents with children aged between 5 and 16.
Please contact LV= for further details.
** Calculations by the Centre for Economics and Business Research for LV=, January 2010
**** Research carried out online from 26 January - 1 February 2010 by Opinium research on behalf of LV=. Total sample size was 3,953 adults over the age of 18 years.
About LV=
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.
LV= offer a range of insurance products including house insurance, motor insurance, life insurance, pet insurance and over 50 life insurance.
LV= employs around 4,000 people, serves over 3.8m customers and members, and manages around GBP9.5bn on their behalf. We are also the UK's largest friendly society and a leading mutual financial services provider.
LVFS is authorised and regulated by the Financial Services Authority, register number 110035. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.
Website: http://www.lv.com/
LV= Reports Kids Come First as Parents Increase 'Back to School' Spending to GBP709 Million
New LV= Cost of a Child study finds kids come first as British parents increase their 'back to school' spending to GBP709 million.
2010-09-03
ELSE PRESS RELEASES FROM THIS DATE:
IGO-POST Ltd Announces the Publication of its Latest Catalogue
2010-09-03
IGO-POST has announced the publication of its latest catalogue coinciding with the 65th anniversary of the company and featuring 1000 promotional items.
IGO-POST is a market leader in the promotional merchandise and business gifts markets, trading in over 10 countries across Europe. Established in 1945 in the Netherlands, IGO-POST has grown from selling stationery from the back of a van to an international organisation of more than 500 employees.
Releasing two catalogues per year, in the Spring and the Autumn, the '2010/2011 collection' is the latest addition to ...
The Sandbag Re-Imagined
2010-09-03
After hundreds of years of holding back the waters, the sandbag has gotten an upgrade.
When it floods the first line of defense is the lowly sandbag. However people who use them hate them. Sandbags are hard to fill and make weak walls. Sandbags haven't gotten any better in hundreds of years, till now. Sand Brick Technologies, a California startup, has redesigned the sandbag.
The opening in normal sandbag is two inches smaller than a shovel blade. This makes sandbags very hard to fill. "It was one of those 'Oh Duh' moments", says John Powell, CEO of Sand Brick Technologies, ...
Canadian Pharmacy Intermediary SaveRxCanada.com Enhances Online Shopping System
2010-09-03
SaveRxCanada.com the premier Canadian pharmacy intermediary since 2004, announced an enhancement to its full online shopping system.
SaveRxCanada.com has been at the forefront of connecting consumers to affordable Canada drugs though its unique network of licensed Canadian pharmacies and International online pharmacies.
SaveRxCanada.com has upgraded a number of features on its website (http://www.saverxcanada.com) to allow for better ease-of-use including an improved shopping cart, search tools, enhanced security with full digital encryption, and better customer ...
Latin Music Star Frankie Negron Releases English Song Titled "No Reply", Written by American Idol's Kara DioGuardi, Idol Winner David Cook and John Fields, Produced by Jimmy Greco
2010-09-03
Airgo Music (airgomusic.com) announces the digital single release of "No Reply". The current album "Independence Day" doesn't include "No Reply" but is available on iTunes as a single or along with the bonus CD order of "Independence Day" from the Airgo music site.
Many know Negron from his successful career as a Latin salsa star, however "No Reply" introduces his voice to a broader pop/rock English audience. Penned by super hit song writer Kara DioGuardi along with American Idol winner David Cook and John Fields. It was produced and mixed by hit maker Jimmy Greco.
Speaking ...
I've Got A Notion Announces Sewing Supplies and Quilting Supplies Website Redesign
2010-09-03
I've Got A Notion, a local and online retailer of sewing supplies and quilting supplies, is pleased to announce the redesign of their website has been completed and changes have been made to make it even more valuable to sewers, quilters and crafters than ever before.
When interviewed, Marilyn Stavros stated, "We have redesigned our website to meet the unique needs of our loyal customers and have created a place where they can find all the sewing supplies and quilting supplies they need, as well as the customer service they desire. We are dedicated to making everyone ...
Glacial Energy Agrees to Supply the Electricity for the City of Nauvoo, IL
2010-09-03
Glacial Energy enters into agreement with city council to supply the city's electricity - The Nauvoo city council recently approved entering into an agreement with Glacial Energy to buy the city's electricity on a month-to-month basis.
Nauvoo is a small charming city of over 1,000 people located in Western Illinois on the bank of the Mississippi River. While the electricity will still be delivered by AmerenCIPS, the local utility company, the city entered into the month-to-month agreement where Glacial Energy supplies its electricity with no contract and no hidden fees. ...
deVere Selected to Join Judging Panel for International Adviser's International Life Awards 2010
2010-09-03
The deVere Group, the world's largest independent financial consultancy group, is pleased to judge and participate in this year's International Adviser's International Life Awards. This set of awards is designed to reward excellence in product design, distribution and servicing the intermediary customer base.
The group is participating in the event for the second year running and is the only financial advisory business to be judging in all three categories including the UK, the Far East and the Middle East.
Mike Coady, deVere Group's Regional Manager for Western ...
At Home with Yara Realty Provides Top-Notch Real Estate Services to Westchester County, NY
2010-09-03
Yara Annechiarico of At Home with Yara Realty offers Westchester County, NY real estate services in New Rochelle, Larchmont, Mamaroneck, Rye, Rye Brook, Port Chester, White Plains, Greenburgh, Scarsdale, Eastchester, Hartsdale, Harrison, Valhalla, Bronxville, Yonkers and others areas of Westchester County.
"I love the real estate market in Westchester County New York, My goal is to sell every single home in the county of Westchester. I want every single seller and buyer to be happy with the completed real estate transaction, and will do everything in my power to achieve ...
World of E Cigarettes: American Cancer Society Shuns E Cigarettes in Favor of the Real Thing
2010-09-03
The American Cancer Society continues to attack electronic cigarettes and falsely label them as dangerous and ineffective, while the number of people using the products is increasing by 20,000 to 30,000 a week. Despite the ACS's claims, e cigarette reviews by consumers are still flooding in all over the Internet that smokers who are switching to e cigarettes and e liquid are breathing, tasting, and sleeping better than they ever did while smoking traditional cigarettes.
By penning their own legislation and bringing it before state lawmakers, the ACS and multiple other ...
Mirdif Private School Selects Skoolee Student Information System
2010-09-02
Mirdif Private School, one of the premier schools in the UAE, has an American based curriculum catering to children from KG1 to Grade 9. Established in 1995, the school is now supervised by its founder Mrs. Randa Ghandour.
"I realized the need to adopt and utilize an electronic management system that will help us reach our targets by implementing Skoolee school management system software. Skoolee will help us greatly pull the total work of the school to a higher level and standard of performance.
There were several less costly software on the market, however Skoolee ...
LAST 30 PRESS RELEASES:
Community partners key to success of vaccine clinic focused on neurodevelopmental conditions
Low-carbon collaborative dual-layer optimization for energy station considering joint electricity and heat demand response
McMaster University researchers uncover potential treatment for rare genetic disorders
The return of protectionism: The impact of the Sino-US trade war
UTokyo and NARO develop new vertical seed distribution trait for soybean breeding
Research into UK’s use of plastic packaging finds households ‘wishcycle’ rather than recycle – risking vast contamination
Vaccine shows promise against aggressive breast cancer
Adverse events affect over 1 in 3 surgery patients, US study finds
Outsourcing adult social care has contributed to England’s care crisis, argue experts
The Lancet: Over 800 million adults living with diabetes, more than half not receiving treatment, global study suggests
New therapeutic approach for severe COVID-19: faster recovery and reduction in mortality
Plugged wells and reduced injection lower induced earthquake rates in Oklahoma
Yin selected as a 2024 American Society of Agronomy Fellow
Long Covid could cost the economy billions every year
Bluetooth technology unlocks urban animal secrets
This nifty AI tool helps neurosurgeons find sneaky cancer cells
Treatment advances, predictive biomarkers stand to improve bladder cancer care
NYC's ride-hailing fee failed to ease Manhattan traffic, new NYU Tandon study reveals
Meteorite contains evidence of liquid water on Mars 742 million years ago
Self-reported screening helped reduce distressing symptoms for pediatric patients with cancer
Which risk factors are linked to having a severe stroke?
Opening borders for workers: Abe’s profound influence on Japan’s immigration regime
How skills from hospitality and tourism can propel careers beyond the industry
Research shows managers of firms handling recalls should review media scrutiny before deciding whether to lobby
New model system for the development of potential active substances used in condensate modifying drugs
How to reduce social media stress by leaning in instead of logging off
Pioneering research shows sea life will struggle to survive future global warming
In 10 seconds, an AI model detects cancerous brain tumor often missed during surgery
Burden of RSV–associated hospitalizations in US adults, October 2016 to September 2023
Repurposing semaglutide and liraglutide for alcohol use disorder
[Press-News.org] LV= Reports Kids Come First as Parents Increase 'Back to School' Spending to GBP709 MillionNew LV= Cost of a Child study finds kids come first as British parents increase their 'back to school' spending to GBP709 million.