Almost half (44%) of the UK’s households – over 11 million  are dependent on more than one salary coming in to cover the bills, a survey conducted by Scottish Widows suggests.<!-more->

And of the 7.1 million households with dependent children, 3.5 million are reliant on two salaries to afford the domestic bills, claiming that without the extra money coming in they would be in financial difficulty.

High utilities bills and increases in costs like council tax are also forcing many young mothers out to work, which in itself incurs childcare costs.

Richard Jones, spokesperson for Scottish Widows, said: “The reliance on two incomes to buy and run the family home means millions of households are effectively doubling the risk of financial hardship should one of the breadwinners become unable to work.”

The report found that the need for both partners to work may be influenced by the rise in consumer credit. Almost half of Britons (47%) have a mortgage, 60% have secured and unsecured loans, overdrafts and finance agreements, and 63% have credit card or store card debt.

Jones said: “Our report reveals that the mixture of relatively low interest rates and high job security means borrowing has been an attractive option in recent years.

“The problem is that servicing this debt eats into our take-home pay and exposes us to financial hardships should we be unable to work. Low inflation also means debts are eroded more slowly over time – again increasing the need for financial protection.”