The cost-of-living crisis is driving more parents and carers to resort to borrowing to get by, new research from the Children’s Society suggests.
In a survey of 2000 parents and carers of children under 18 in the UK, carried out in November and published on Monday, most respondents (86 per cent) reported being under financial strain.
Asked how well their household had been managing financially over the past three months, one third (34 per cent) said that they were “just about” getting by, 21 per cent said that they were finding finances “quite difficult”, while 12 per cent said that they were finding it “very difficult”.
The Children’s Society explains in a statement: “We considered those that said they found it quite or very difficult to manage financially during the last three months to be in financial strain; 33 per cent of those that responded indicated they were in financial strain.”
Increasing numbers of parents now borrowing to get by, Children’s Society survey finds https://t.co/VUAkVAZFc2
— Church Times (@ChurchTimes) December 20, 2022