Families have had to deal with an average of £1,800 in unexpected outgoings over the course of the last 12 months, a new study has revealed.
Research released today (June 19th) by M&S Money found that unforeseen expenses such as school trips and car repair bills resulted in households across the UK parting with hundreds of pounds extra than they had planned for.
The survey – which involved questioning 2,000 adults – found that the average spend on unanticipated costs relating to little ones is £134 annually, with the most common outlay being on school trips.
Indeed, 40 per cent of parents experienced this expense during the last year at an average cost of £71 each, with mums and dads between 35 and 44-years-old most likely to have to meet unpredicted expenses.
Paul Stokes, head of savings at M&S Money, said such figures should encourage parents to begin saving so they have a contingency plan to meet such costs.
"The old saying 'it never rains but it pours' can often be true when it comes to unexpected costs," he warned.