Rising Debt Makes Work A Priority For Parents

Tue, 19 Jan 2010

New research has revealed that more and more household across the UK are dependant on both parents working to cover the bills and cope with rising debts .

A study by Scottish Widows found that 60 per cent of British households with dependent children are reliant on more than one income to cover their monthly bills .

It also showed that households with dependent children have carried an average of £8,653 in short-term debt in the last three months, compared with an average of £7,003 for those without children.

The average household with dependent children also has over £91,000 outstanding on their mortgage debt, nearly £3,000 more than last year, according to the research.

Scottish Widows protection director, Clive Allison said: "The days of one parent going out to work while the other takes care of the family are no longer an option for many people.

"For many families, sacrificing half their income when they have children is a luxury they just can’t afford."
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