Debt concerns delaying family plans

Mon, 14 May 2012

Many people in the UK are delaying starting a family due to fears over finances and the prospect of .

New figures from Skipton Building Society revealed four-in-ten couples have shelved their plans to have children because they cannot afford to do so at present, while many more believe they will have to wait an extra two years due to a lack of financial stability.

Despite this, 47 per cent of those questioned are still hoping to save up for a new home and 22 per cent would like greater job security before pushing forward with any major plans.

A spokeswoman from Skipton Building Society - which has around 761,000 members - said: "The credit crunch has had a devastating effect on traditional family structures, as people can no longer have children as and when they want them."

The representative explained a significant rise in the cost of living has been seen over the last four years, while people are earning less and have graver concerns over whether or not they will be able to hold on to their jobs .
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