More than a third of parents will cut spending amid the cost of living crisis by taking summer trips during term time and paying fines that comes with it.
One in ten of 1,500 parents polled by Holiday Extras have already booked to take their family away before the school summer holidays, with a further 29% saying they will likely follow suit.
Breaks during term time are, on average, a quarter (28%) cheaper than going away within the school summer holidays – or a fifth (19%) when absence fines, which are £60 per parent, are taken into account.
Comparing the prices of two week-long package holidays to two of the UK’s most popular destinations for a family of four, the analysis found breaks to Tenerife from Manchester airport during term time were almost £900 cheaper than going away during the summer break, even with the fines included.
A seven-night Crete holiday from Stansted in July was also found to be £600 cheaper than going a month later.
Parents in the south-west, Wales and Scotland were most likely to cut the costs by taking their children out of school, with the least likely in Yorkshire and the East Midlands.
Those in the south-east are most likely to have already booked their term time trip to afford a holiday – double than those in London, and four times more than in the North East.
Travellers without children were most likely to spend more time researching holiday destinations to cut costs and find the best deal (73%), with the second-most popular method being to swap to a less expensive destination at (46%).
Holiday Extras chief financial officer Hugo Loudon said: “As the cost of living crisis continues, our research shows that some people will start turning to extreme solutions rather than give up their main family holiday.
“Sixty per cent say they’re likely to cut back on other household expenses; another 60% say they’re swapping to a cheaper destination and 45% say they might swap an overseas holiday for a cheaper UK break.
“But there are probably better ways of saving on a family holiday than booking it in term-time, with the risk of sanctions and fines that brings. Picking a cheaper destination will make the most difference. Booking all-inclusive in advance helps budget a holiday, and also safeguards your budget from inflation.
“And booking your holiday and holiday extras as far in advance as possible can make a big difference too.”