You are here: Home - Uncategorized -

UK parents struggle to make ends meet

Written by:

Nearly half of UK parents with young children are struggling to make ends meet, according to Engage Mutual Assurance.

The insurance company also found that increases in living costs will force 56% of parents to cut back on spending on their children in 2008. More than one in five (24%) parents anticipate having less money to put towards their children’s clothes, while 26% think they will have to cut back on toys.

Parents aged 45 to 54 were found to be struggling the most, with 49% saying they were less comfortably able to provide for their families.

Karl Elliott, spokesperson for Engage Mutual Assurance, said: “With the increased cost of food, fuel and mortgages taking effect, our research shows that many parents anticipate finding it increasingly difficult to make ends meet in the year ahead. However, we encourage parents to continue saving little and often for their children’s future even if it is just £5 each month.”

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

Read previous post:
Stock market investors take advantage of volatility

Investors’ morale has not been shaken by recent market volatility, according to The Share Centre.