Cost of living crisis pushes a third of parents into debt as families struggle to pay bills ➡️ Some 46% of families have struggled to pay their bills over the past month
to pay their bills in recent times as the cost of living continues to soar, research indicates.have struggled to pay their bills over the past month
, reflecting the worsening conditions for millions of families throughout the UK, according to data from Compare the Market. Worryingly, it found another 35 per cent are likely to take on additional debt to afford everyday bills.regularly about their financesAlmost two-thirds of families with children also feel more pessimistic about their finances compared to this time last year.
This follows on from Compare the Market’s Household Financial Confidence Tracker last week, which showed that 65 per cent of single parents feel worse off financially than they did this time last year, rising to 68 per cent compared to five years ago., some households, particularly those with children at home, are having to take on additional debt or borrowing to afford everyday bills.
More than a third of households with children believe they are likely to take on additional debt to afford bills – compared to 16 per cent of those without children at home.
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