Asda has launched its new money-saving advice hub which aims to help parents who are struggling to pay for kids summer activities amid the cost-of-living crisis.
The initiative stems from research by the Big 4 grocer which revealed 8 in 10 parents plan to cut back on holiday activities for their children. It also found that 67% will have to work more and 47% of parents plan to borrow money from friends and family to afford holiday treats.
The new hub will provide tips on saving and budgeting, including how to cook smarter, entertain kids for free and eat out without spending any money.
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Asda’s latest ‘income tracker’ found that 20% of UK households now have negative disposable income due to take home pay not covering spend of essentials including groceries, energy bills, transport costs, mortgage or rent.
To combat the rise in food poverty across the UK, the retailer has also announced that as part of the government’s ‘Help for Households’ campaign, children aged 16 and under can eat at Asda cafes for £1.
The deal which was introduced earlier this month for a limited time has now been extended until the end of the year. Also offered seven days a week, the initiative will require no minimum adult spend.
“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,” Asda’s acting chief customer officer, Sam Dickson said.
“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.”
