Irish Wedding News
13/11/2014
The research, by the Debt Advisory Centre (DAC), revealed that millions of people are having to sort out their finances before they can have children. For example, the study found that around seven millions (one in seven) adults in the UK are planning to start a family or have another child; but up to a third need to pay off debt first. A further fifth are planning to save for a larger house before they add to their family.
When asked by the DAC if finances were part of the reason why they delayed having children, two-thirds said yes, while a fifth described it as "key" to their decision.
Ian Williams, DAC, is quoted as saying: "Sadly, for millions of people, deciding when to have children has become a financial decision.
"Do they have space? Can they afford to a bigger place? Will they be able to afford their existing commitments if they lose an income or pay for childcare?
"Paying off debts is sensible, although it's surprising to see that so many people are having to take this step."
(JP/IT)
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One In Three Delay Starting A Family
As many as a third of people in Britain are forced to delay starting a family, just so they can pay off their debts first, a new study has found.The research, by the Debt Advisory Centre (DAC), revealed that millions of people are having to sort out their finances before they can have children. For example, the study found that around seven millions (one in seven) adults in the UK are planning to start a family or have another child; but up to a third need to pay off debt first. A further fifth are planning to save for a larger house before they add to their family.
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When asked by the DAC if finances were part of the reason why they delayed having children, two-thirds said yes, while a fifth described it as "key" to their decision.
Ian Williams, DAC, is quoted as saying: "Sadly, for millions of people, deciding when to have children has become a financial decision.
"Do they have space? Can they afford to a bigger place? Will they be able to afford their existing commitments if they lose an income or pay for childcare?
"Paying off debts is sensible, although it's surprising to see that so many people are having to take this step."
(JP/IT)
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