American Express: Summer Is Going to Cost You if You... - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » American Express: Summer Is Going to Cost You if You Have Kids

American Express: Summer Is Going to Cost You if You Have Kids

The content is accurate at the time of publication and is subject to change.

Summertime fun doesn’t come cheap, and this year parents are digging deeper into their pockets to keep the fun factor on high for their children.

According to the American Express Spending & Saving Tracker, parents will spend $55 billion this year not only on family fun, summer camps and sports, but education too. This number is up from last year, with parents spending 40% more than they did in 2012.

Summer Fun costs more this year

They are spending more because the cost of traditional summer time activities, like day trips, pool memberships, day camp and art programs, have all gone up. Sleep away camps are up 35% from last year, while educational programs are up 27%. In dollars and cents this means that it can cost you $157 on average per child for a pool membership, or as much as $329 for sleep away camp.

Kids doing it for themselves

While parents are spending more, their kids are also looking to earn some extra money with 35% looking for work during the summer, weekends and winter break, earning an average of $456.

They are looking for jobs in grocery stores, restaurants, and fast food joints, as well as being open to landscaping, babysitting, and bussing tables.

Allowances get a cost of living increase

Allowances, just like everything else, are also on the upswing. On average kids collected $32 a week, which is up 70% from 2012, when allowances averaged $19. However, a big part of getting that increase includes doing chores.

Chores, Chores, Chores

Whether working, having summer fun, heading off to an art class, or all of the above, 96% of parents expect their kids to keep up with chores. That can mean taking care of the dog, cleaning their room, taking out the garbage, or doing the laundry.

For parents those chores translate into dollars and cents with 65% suggesting that they base how much cash their kids get on whether or not they’ve done their chores. Grades (45%) and age (42%) also play a role in figuring out the amount of a child’s allowance.

Knowledge is the key to success

Being healthy is number one on a parent’s list of the top five keys to their child’s success. Knowing the value of money in terms of earning it and spending takes the number two slot.

Health and money are clearly high on the list, but so is finding time to enjoy life, family and friends, as well exploring passions and interests. Suggesting that parents are trying to strike a delicate balance between fiscal responsibility and having fun.

This research study was conducted online and included talking with 2,200 adults, from  June 14 and 19, 2013.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Laptops and Smartphones Increase Back-to-School Budgets
Laptops and Smartphones Increase Back-to-School Budgets

Posted: August 27, 2013

Never mind pencils and crayons—even children in kindergarten have tech tools and digital gadgets on their school supply lists this year. Half of back-to-school shoppers surveyed by American Express said they’ll be buying some sort of… Continue reading

Millennials Open Their Wallets in 2015
Millennials Open Their Wallets in 2015

Posted: February 04, 2015

The new American Express Spending & Saving Tracker looked at what Millennials are planning in their lives this year and how it compares with previous generations. The results suggested that now that the economy is on the mend the younger… Continue reading

Spending Picks Up as Consumer Optimism Improves
Spending Picks Up as Consumer Optimism Improves

Posted: April 23, 2013

The latest Chase Blueprint Pulse of the Consumer Survey indicates that consumers are feeling good about their finances and starting to spend more on restaurants, vacations and other things that were on hold as they weathered the… Continue reading

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!