Parents have been warned of the costs they might incur if their child decides to take up an extra-curricular skill during the summer months – or even after heading back to school in September – whether it is dancing, acting or football, with a need for professional coaching to enable them to hone their skills in a given field.

Research from financial services provider Alliance and Leicester reveals that jazz or ballet dance classes typically cost parents around seven pounds per session, with this price rising to double figures for performing arts classes at an average charge of ten pounds per lesson discovered as being the likely price tag parents will have to meet in order for their youngsters to take part in such coaching at the weekend.

Such figures could place the parents of budding Harry Potters and potential High School Musical stars under renewed monetary strain at a time of tightened economic conditions nationwide, meaning they could be unable to meet monthly outgoings such as mortgages, secured loan repayments and credit card bills without addressing their wider financial situation.

Hetal Parmar, manager for savings at Alliance and Leicester, says: “All parents know that taking part in extra-curricular activities benefits their children and it is right that they want to support their ambitions. Whether the dream is to be a class act or sporting hero, the cost mounts up on top of the price of compulsory uniforms, school dinners and school trips.”

With the strain on parents’ finances across the country placed at an estimated total of 1.7 billion pounds, many consumers whose offspring are looking to stake their claim to the limelight could find a secured loan to be the ideal option to boost their bank accounts. Obtaining a loan might be able to cover the cost of lessons in singing, dancing or acting while leaving some spare money to meet other outgoings such as credit card bills and monthly mortgage repayments.

Mr Parmar adds that some parents could be particularly at risk of experiencing monetary difficulties due to their family increasing in size and the subsequent cost of paying for lessons in performing arts or sports coaching once their children reach the necessary age. Alliance and Leicester claims that only one in every 20 households has planned ahead enough to start a savings fund specifically for covering such childhood costs.

“Parents will feel the pinch if they have not made financial provisions already, especially if they have more than one child at school, or if their child takes part in more than one activity,” the spokesperson for the financial services provider concludes.

Taking out a loan might be particularly advisable for parents who believe their household does not fit the typical profile of a British home. Research previously published by Legal and General found that 68 per cent of consumers claim that their home life differs from the stereotypical expectation, with environmental concerns at the forefront for many. Britons looking to implement energy-efficient measures in their domiciles could opt for a home improvement loan in order to cover the initial cost of doing so.

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