You are here: Home - Credit Cards & Loans -

One in five workers have extra job to make ends meet

0
Written by:
05/02/2014
Nearly one in five UK adults have taken on a second job to cope with the spiralling costs of running a household, research has revealed.
One in five workers have extra job to make ends meet

A survey by the Debt Advisory Centre found that 17% of adults – the equivalent of 8.5 million people across the country – are sacrificing time with their families to make extra cash.

Nearly one in 10 (8%) of people polled said they had returned to work instead of staying at home with their kids so they could ease the strain on their family’s finances.

The report also found that money worries were forcing Brits to abandon holiday plans.

Nearly two-fifths (38%) of respondents said they will not go away because they could not afford the break.

Young adults were the most likely to have abandoned their holiday plans due to money worries, with nearly half (43%) of 25-34 year olds admitting they have done so.

However, more than two-fifths (41%) of 35-54 year olds have also sacrificed a holiday to save money.

Other sacrifices made by struggling Brits included selling possessions (31%); cancelling insurance policies (11%); and downsizing to a cheaper property (6%).

Ian Williams of Debt Advisory Centre said: “Taking on a second job is one way of improving the household finances. However, it usually means people are working even longer hours and spending less time at home – which can add to the stress of being in debt in the first place.”

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…
  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…
  • RT @STEPSociety: UK Ministry of Justice abandons plan to increase EW probate fees, described by STEP’s Emily Deane TEP as a stealth tax on…

Read previous post:
Danny Alexander: Top rate tax cut ‘over my dead body’

Chief secretary to the Treasury - and Liberal Democrat - Danny Alexander has ruled out a further cut to the...

Close