Learning to drive is achievable and affordable if parents start saving early, insurance provider Marmalade reports.
Research by Marmalade found that the potential investment required to take a young person from novice to fully-qualified driver is £1,625 – or £95 a year (£8 per month) from when a child is born until they reach the legal driving age of 17 years old.
“There is a huge pressure on parents to save funds for their children’s future, for example university fees, weddings and so on,” Marmalade’s CEO Crispin Moger said. “Very rarely do we see parents considering the full cost of learning to drive until about two to three years before the milestone hits, which then becomes a massive financial blow.”
Marmalade’s tips for young learners to get their driving licence in the most cost-effective way includes:
“Our advice to parents,” Crispin Moger added, “is be realistic and start saving as early on as possible to prevent any financial burden. It can be cheaper than a monthly takeaway or round of drinks.”
Last year, it was reported that the number of teenagers learning to drive had fallen by 28% in a decade.