BMO sets average summer-with-kids pricetag at a whopping $2,300

At this stage in the game, no one has any doubt that children are expensive. As in, bank-breakingly expensive. Sure, there are ways to raise children on a budget, and nothing, no matter how costly, will ever be a substitute for good old-fashioned playing outside (remember when kids used to do that?)

But if you’re a working parent who needs to keep your school-free offspring occupied while you go to work to make money to keep them occupied, the Bank of Montreal has some statistics to confirm what you already know: It’s going to cost you dearly.

According to the BMO survey released on Monday, parents spend an average of $2,300 per summer to make sure Junior and Juniorella have ample activities, popsicles and fun weekends during the sweltering months of June, July and August. Oh my lord, the zeroes.

Also see: How to survive the summer with your kids

"It is easy to lose track of your spending in the summer due to many competing interests for your dollars, so it is an important time to keep track of your spending, especially incidental, unplanned expenditures, no matter how small," Janet Peddigrew, Vice President, BMO Bank of Montreal, says in a press release.

"Tracking your spending can help you keep your larger financial plan in mind."

Here’s how parents lose track of spending, according to the survey:

Each week, they blow an average of $54 on entertainment, like movies and festivals and $58 on treating the kids to a meal out or two. Because we’re impulsive creatures, and our children exponentially moreso, this can add up to an additional $65 per week on impulsive purchases.

Also see: Top tips for holiday travel with kids

Women also tend to outspend men on children’s entertainment at a slightly higher margin, with 52 per cent of child-having females admitting they amp up the budget compared to 41 per cent of dads.

And as you can imagine, the results varied from province to province. Ontario and Quebec parents showed the largest weekly expenditures at $200 and $193, respectively, while Prairie and Maritime parents appeared to be the thriftiest – although this probably has some bearing on items generally being more expensive in some places than others.

Despite the burden of buy, 83 per cent of parents polled told BMO that they’d amped up their saving habits and had set a summertime budget. Despite free festivals and events, however, suntime funtime tends to lead to laxer wallet habits than any other time during the year (except Christmas. Christmas trumps all).

What are some ways your family saves money during the costly summer season?