Scottish Widows: Credit crunch pushes parents out to work
www.moneynews.co.uk > General finance > Scottish Widows: Credit crunch pushes parents out to work
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Scottish Widows: Credit crunch pushes parents out to work
Thu 27th Nov 2008
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The study shows that 61 per cent of families with children living at home now rely on two salaries to meet their day to day living costs.
Out of 7.1 million households with dependent children, only 2.7 million now have one stay-at-home parent.
Scottish Widows' protection market director, Richard Jones said: "Families just don't have the luxury anymore of being able to have one parent at home to take care of the children if they want to maintain the lifestyle that they have become accustomed to."
Mr Jones recommended that families in this situation should seriously consider what might happen if one of the breadwinners was incapacitated and unable to work for some reason.
Earlier this month an LV= survey revealed that over a quarter of people in the UK would not have enough money in savings accounts to live comfortably if they were incapacitated.
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