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.
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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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