Supermarket giant Asda has just launched a new online money-saving advice hub, aimed at helping parents struggling with the cost-of-living crisis. This is particularly prominent now more than ever, as the summer holidays begin and a larger strain in placed on parents and their wallets.
With budgets being squeezed, 8 out of 10 parents say they are planning to cut back on kids’ holiday activities. Similarly, 67% of parents are being forced to work more and 47% plan to borrow money from friends or family to pay for school holiday treats.
The ‘Essential Living Hub’ from Asda aims to help customers save and budget. It is a one-stop website where customers can access a plethora of hints, tips and hacks. The best part is these tips and tricks go beyond food shopping. They cover a range of topics, from saving on your energy bills, budgeting better, buying and cooking smarter, how to eat out for free and how to keep the kids entertained for little or no money.
Brand new research from Asda also reveals the tough choices parents are having to face as the summer holidays begin. More than three-quarters (78%) of parents said they are cutting back on holiday activities to save money. Day trips, cinema visits and eating out are all being minimised by parents in order to save money.
14% of parents also said any children’s activity which costs money is off the cards this summer, as it is simply unaffordable. The latest Asda Income Tracker shows that 20% of UK households now have negative disposable income because their take home pay no longer covers spending on essentials such as groceries, energy bills, transport costs, mortgage or rent.
The ‘Essential Living Hub’ is just one of the initiatives being taken by Asda to help customers combat the cost-of-living crisis over the coming months. We recently wrote about how children under the age of 16 can eat for just £1 at Asda Café’s across the UK until the end of the year – with no minimum spend required!
Asda have also recently launched their new range – ‘Just Essentials’. This range is comprised of almost 300 budget-friendly products. These include fresh fruit, vegetable, meat, fish and poultry. This allows customers to enjoy delicious and nutritious food on a budget.
Our founder and CEO, Jasmine Birtles, said:
“The summer holidays are always expensive for parents but this year it’s even tougher, given the rising cost of transport and petrol in particular. However, there are lots of ways to entertain the kids for less (we have a load of information on this on MoneyMagpie) and staycations really can be the most fun for children.
“Kids really want to be out in the garden or the park or, even better, the beach if you’re near one, and they particularly love being out with family. Ignore the holiday adverts, ignore Instagram, there’s no such thing as a ‘perfect’ holiday…kids are happy with playing with family and other children.
“Real memories are made through simple things like setting up a tent in the garden and having a campfire with toasted marshmallows and stories, or going to the park with a little fishing net and looking for frog spawn, or spending the day on the beach with buckets and spades and a picnic. Make this summer a simple family one and the kids will remember it forever.”
Sam Dickson, Asda’s Acting Chief Customer Officer, said:
“We know things are tough for many families as our latest Asda Income Tracker shows the average household is a record £175 per month worse off compared with this time last year. This makes it harder to find the money to go on holiday or keep the kids entertained while they are off school.
“We know that despite the budget pressures – parents and carers want to do the best for their kids, which is why we’ve launched the Essential Living Hub to help them through the holidays. And with our Just Essentials range offering over 300 products at the lowest possible prices, we’re here to help them make their budgets stretch further so they will have more to spend on doing the things they love.”