Parents suffer sleepless nights due to credit crunch
December 24th, 2008 | by Lynn Connelly |The Family and Parenting Institute has recently published a report which reveals that a third of UK parents are having sleepless nights because of worries about money and that 29% of those parents are arguing over their family’s money situation.
The report, based on a YouGov survey, questioned over 5,000 parents of under 16 year olds and also found that one in four parents say that their income doesn’t cover the bills each month.
27% of the parents said they believe they won’t be able to pay the bills in six months time while one in ten fear that the main household earner will be made redundant in the next six months.
75% of parents have debts by way of credit cards, loans and overdrafts and the average amount owed is £8,400.
The report also showed that the costs that are causing most concern to parents are heating, paying the rent or mortgage and food.
2 Responses to “Parents suffer sleepless nights due to credit crunch”
By The Credit Cruncher on Jan 3, 2009 | Reply
I think this is our past catching up with us. ‘Frugal living’ has been regarded by some as a bit of a fad, but it is how we must all behave in the future if we want to survive..
By Credit Crunch Investor on Jan 6, 2009 | Reply
I don’t know – speaking as a parent, the number one cause of sleepless nights has always been the children themselves!
On the other hand, my Credit Crunch investment portfolio has done rather well in 2008.