Family help save parents £3,000 a year on childcare

Childcare by relatives is saving Scottish families almost £3,000 a year, according to researchers.

Bank of Scotland’s How Scotland Lives analysis, which polled more than 2,000 people, found the average family received free care worth approximately £2,832 per child.

The study found almost half (48 per cent) of Scottish families rely on relatives to provide some element of their childcare, whilst only one in 10 families (10 per cent) turn to paid childcare workers.

Family members now spend an average 13 hours a week providing childcare and the average cost is now £4.19 an hour for each child – about £2,832 a year per child.

Mike Moran, director at Bank of Scotland, said: “Creating a budget that includes all household outgoings including childcare costs can help families manage their money.”