Debt levels 'forcing mothers back to work'
Debt levels 'forcing mothers back to work'
Friday 28th November 2008
Findings published by Scottish Widows reveal that 47 per cent of British homes rely on more than one source of money to maintain a comfortable standard of living.
The survey also discovered that household debt levels increase with children, as the average house has outstanding mortgage payments worth £88,500, compared with an average of £77,500 for those with no dependent children.
Richard Jones, protection market director at Scottish Widows, commented: "The reliance on two incomes is the only way to maintain a decent standard of living for many families and with the rising cost of living, this isn't likely to ease off any time soon."
The figures indicate that 61 per cent of households with children are currently reliant on more than one breadwinner.
Recent statistics from Credit Action stated that the average UK household debt now stands at £9,740 excluding mortgages.
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