Buying time
Published
It’s hard enough for many parents to find the money they need to meet the requirements of a growing family. Now research by high-interest savings platform Flagstone reveals parents are at the sharp end of Britain’s growing ‘time debt’ too. The average UK parent spends an extra five hours a week on chores compared with non-parents. And four in five parents say their mornings feel like a full workday before their paid work begins, completing over 20 tasks before 9am.
This growing time debt has led many to seek solutions that let you buy back hours otherwise spent on routine chores: such as hiring a cleaner, using a launderette or ordering meal prep services. Parenthood now carries a measurable time deficit, and families are increasingly choosing to spend money to close it.
Over half of parents pay for weekly time-saving services (58 per cent), compared with just 21 per cent of non-parents. Nationwide, people estimate that time-saving services save them 11 hours and 44 minutes a week. This rises to 14 hours and 15 minutes for parents, effectively allowing them to buy back almost 31 days a year.
Among families, grocery deliveries are the most popular service. Nearly three-quarters (72 per cent) of parents choose to have their food shopping delivered, saving an average of one hour and 28 minutes per week.
On top of their day-to-day responsibilities, many parents are also planning ahead for their children’s future. On average, they aim to set aside over £18,000 – adding financial pressure on top of limited time. This combination of rising costs and shrinking free hours leaves many feeling stretched, forcing parents to make trade-offs, compromise on daily routines or pay for services that help them reclaim valuable time.
Visit www.flagstoneim.com
