Keeping kids busy this summer will have some parents shelling out big bucks. New research has found that the average family will spend $601 per child to send their children to summer camps and perform other activities to keep them busy. Among affluent families, the cost nearly doubles to $1,116 per child.
Overall, that spending equals out to a total of $16.6 billion. More than three-quarters of parents said they will spend more this year than in previous years on summer activities.
The most popular activities parents shelled out their money for included day trips, sports participation and educational activities. Other popular summer activities included pool and club memberships and day camps. Parents also spent an average of $433 per child on babysitters and $252 per child on sleepaway camps.
"Between sleepaway camps, swim clubs, and sports that ramp up between June and September, summer expenses can add up," said Claire Bennett, executive vice president of Loyalty and Membership Benefits at American Express, which conducted the research. "The six and-a-half hours now free each weekday requires special seasonal purchases— and some thoughtful planning—in order to keep kids engaged between the school years."
The information in this research was based on responses from 2,008 adults with children under the age of 18. Affluent families were described as having a household income of more than $100,000. The research was a part of the American Express Spending & Savings Tracker.