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Sending children 'back to school' costs £1.2 billion

Sending children 'back to school' costs £1.2 billion

- Friday, 3 September 2010

Consumers living with debt problems could find it difficult to find the cash to send their kids back to school next week.

That is because parents are spending a total of £1.2 billion a year in order to do so, suggests new research by gocompare.com.

This equates to parents forking out £134 each on school uniform, stationery and maths sets, while others will be providing their youngsters with a mobile phone or laptop.

A study of 1,000 parents was conducted by the comparison site and it revealed that half of all children aged between four and 16-years-old had taken a mobile to school with them.

A further 20 per cent had taken a MP3 player, 12 per cent a digital camera and six per cent a laptop to school with them.

If these expensive items get stolen, lost or damaged, while the child is at school, they may need to be replaced, which could increase the debt worries of their parents.

The insurance firm, LV= recently revealed that 46 per cent of parents in the UK were preparing themselves to spend more on school equipment this year compared to 2009.
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