Money too tight to mention
Published
One in 10 British families is accumulating up to £500 worth of debt every month during the current cost of living crisis, according to a new study from credit management company Lowell.
The study looked into how financial issues are impacting anxieties and social pressures throughout the family and found that lack of communication is straining relationships.
The study found that:
- 14 per cent of Brits feel judged by other parents for not being able to send their kids on school activities.
- Up to 21 per cent feel the pressure when friends try to arrange holidays or require birthday gifts.
- 14 per cent feel judged when they can't afford to go to a wedding, stag or hen party.
- 27 per cent feel pressure from children to provide them with the latest tech and fashion.
- 7 per cent have fallen out with family members because of money issues.
Visit www.lowell.co.uk
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