Teen pupils across England, Wales, and Northern Ireland had better hope their GCSE results are good next week – because new research shows parents reward their children with an average of £104 for getting good grades.
However, online coupon site VoucherCodes.co.uk – who spoke with 1,000 people whose children are leaving secondary school this year – also found 61 per cent of parents are worried about how they’re going to afford expenses over the summer break – a ten per cent rise on last year.
As parents look-set to splash-out an average of £848.88 over the six-week holiday – from trips to the bowling alley to streaming services like Netflix and Spotify to keep their children entertained – ten per cent told the survey they lie awake at night worrying about how they are going to meet costs.
Despite this, the website’s results showed how most common rewards next week will be contributions towards prom costs (30 per cent), cash (22 per cent), and payments towards a celebratory meal out (15 per cent).
As well as this, the research found parents have promised to help fund a number of costlier items in a bid to motivate their children. Almost ten per cent said they will contribute towards a new car, while 13 per cent will be forking-out on a holiday as a reward for achieving good grades.
Consumer editor at VoucherCodes.co.uk, Anita Naik, described how, although bribery as a motivational tool may have some parenting sites awash with rage, it happens and, in some cases, it works.
Although, she highlighted how some parents cannot afford to spend large amounts of money on GCSE results day, especially on top of all the added expense of entertaining the family over the holidays.
Ms Naik added: “To help reduce financial strain, there are lots of ways to be savvy with your spending and celebrate without blowing the budget. If you’re planning on helping the kids with the cost of equipment for higher education, why not make that the gift?
“Alternatively, book a meal for your child and a couple of friends and see if you can use a discount voucher. That way, they get to have a special evening to reward all their hard work without costing you too much cash.”
Parents in the East Midlands will be giving their children the largest average cash reward (£131) on results day, and East Anglian students will stand the best chance of receiving a holiday, with contributions of up to £217.