27 per cent of parents have said they might not be able to pay their bills in six months time, according to the Family and Parenting Institute’s latest report. According to ‘Families and the credit crunch 2008’ (based on a YouGov survey of over 5,000 parents), more and more families are finding it harder to balance their budgets. Sally Gimson from the Family and Parenting Institute said: “While previous generations battled budgets during tough times like the war and the collapse of industries, for some younger families this is a whole new ball game.”
But, parents not only told the Family and Parenting Institute how they were faring in these hard economic times – but also revealed some of the ways that they are saving money. Driving slower, swapping clothes and toys with friends and growing their own vegetables are just some ways the nation’s families are cutting down on costs.