Families 'pushed to breaking point'
Filed under: Debt
Research among 1,500 adults by the Scottish Widows think-tank, the Centre for the Modern Family, revealed "increasingly desperate" measures being taken to cope with the impact of recession.
Increased living costs and falling wages, coupled with the rising cost of childcare and the ongoing economic climate were creating a nation of "on-the-brink Britons", said the report.
Eighteen to 34-year-olds were more likely to have resorted to selling items online in the past year to make ends meet, and were twice as likely as other adults to have taken out a payday loan to tide them over.
One in five young people have been left unable to pay household bills and one in eight have skipped meals to ensure their family eats well.
Lord Leitch, chairman of Centre for the Modern Family, said: "These findings paint a stark and in some cases desperate picture of family life in Britain today as families feel the squeeze of these difficult times. Family life has changed considerably in the last 10 years and families are making real sacrifices just to get by.
"Young people in particular face a very different kind of working life from the one that their parents and grandparents experienced.
"Affordable housing and a comfortable retirement are just two aspects that can no longer be taken for granted and as a result young people now face an increasingly uncertain future."
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