Brits battle family budget cuts

Rising prices and unemployment are forcing mothers to make tough choices about the family budget, according to a new survey known as the Mumdex.

Three-quarters have lower disposable incomes than a year ago, around 42 per cent have had to accept a cut or freeze in the household budget and 23 per cent are borrowing to get by.

Perhaps the most telling detail to emerge from the research (by Asda) is that one mother in four is either returning items at the checkout or swapping value products for the brands their families prefer, hiding the truth from their children by refilling old packaging.

The news comes a week after another survey by Mumsnet that found a quarter of families are living on credit cards, five per cent have turned to payday loans and one in 100 have resorted to loan sharks to stay afloat .

It’s a grim picture in what we’re accustomed to regard as an affluent society but it does demonstrate that parents are using their imaginations to take control of their family budgets.

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Posted by: WarrenWilson Categories: Finance Tags: , Comments Off on Brits battle family budget cuts

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