Financial pressures are causing a third of parents to cut back on extra-curricular activities for their children, according to a new report.

A study commissioned by former building society EBS revealed a significant rise in the number of adults looking to save money by reducing spending on after-school groups.

Jackie O'Callaghan of the National Parents' Council, Post Primary, told the Irish Independent: "A couple with three or four children can end up spending the price of a mortgage on activities for children."

She added that adults do not need to ensure their offspring have their days "organised for them 24/7", but instead they should be allowed to entertain themselves.

In a bid to reduce outgoings, parents admitted they planned to cut back on activities such as ballet classes - which cost around €100 per term - and speech and drama training, which can set families back €120 a term.

The quarterly Consumer Saving Sentiment Research also revealed 75 per cent of the Irish population are trying to reduce how much they spend.

Written by Donal Walsh

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