Millions of UK parents are being forced back to work as a result of rising debt problems, a new survey has revealed.
Conducted by Scottish Widows, the study indicated that the typical household including dependents has outstanding mortgage amounts of £91,648, with four million reliant on at least two salaries to make ends meet.
Scottish Widows’ protection director Clive Allison noted that this is essential for many families in order to retain a “decent standard of living”.
“Sacrificing half their income when they have children is a luxury they just can’t afford,” he said.
And Mr Allison went on to observe that it is imperative that adults “protect themselves financially” so that if debt problems do worsen, they have monetary support in place to ensure that their families are looked after.
Meanwhile, a recent Shelter survey found that many people in the UK are being forced to live with each other even after divorce proceedings have begun because moving out is unaffordable.
By Sarah Adie