Thousands of Brits Delaying Parenthood to Sort Out Finances
November 14, 2014
Money and the pursuit of financial stability plays a major role in the decision-making processes of people across the UK who are hoping to start a family, according to new research.
Around 14 per cent of Britons polled recently said they were looking to have children in the next few years and two-thirds of those people suggested that financial considerations will play a role in their decisions on the timing.
Plus, for 22 per cent of the would-be parents quizzed on the subject, money is the key issue that will dictate when they will start trying to have children.
Debt is apparently high on the agenda for many of the couples who are keen to have children, with 35 per cent indicating that personal arrears will influence their decisions on whether and when to start a family.
The research also found that 38 per cent of men and women aged between 25 and 34 years old who are keen to have children are currently trying to pay off their debts before doing so in order to establish a greater degree of financial flexibility.
“Starting a family is a big life step and can be expensive, so it’s perhaps no wonder so many people say that their finances do play a role in when they think they’ll have more kids,” said researcher Ian Williams.
“Anyone keen to start a family who feels that they have a long time to wait because of the level of debt they’re in may want to seek professional debt support and advice to see if there’s a way they can get back in control of their finances sooner.”