Credit Crunch Puts Off Parenting

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Credit Crunch Puts Off Parenting
Childless couples are shelving plans to start a family in light of the credit crunch, according to our research.

Shocking hikes in utility bills, fuel prices and the weekly food bill have left millions of Brits fearing they’ll never be able to afford a family.

BulletWe found that 36 per cent of couples who had planned to start a family in the next 12 months have now put their plans on ice.


Bullet29 per cent even went on to say they can’t ever imagine affording a family, and so have made the decision NEVER to have any children.

BulletOne in five couples would actually terminate a pregnancy if they found out they were expecting but weren’t in a financially stable position.

We conducted the poll of 3,000 couples, and found that difficulties getting on the housing ladder and rising food and petrol prices are just some of the reasons why couples don’t feel able to have children.

Times are really hard for most people, and having children has now dropped lower on the list of priorities. The first concern for many is to just be able to get by on a day to day basis. By having children, couples are essentially losing one salary and have to fork out money they don’t have on nursery items, clothing, food - the list is endless.

Our poll revealed that the rise in the cost of living has had a dramatic effect on family planning. More than 80 per cent of couples believe it in important to be sitting comfortably financially before starting a family. 57% say money is one of the main deciding factors on how many children, if any, they will have.

Although most couples recognize that the most important thing for a child is the ability to offer unconditional love, support and a stable relationship, material things such as a large enough house and a big enough car are also important. New parents want to be able to give their new child the world, and even the most basic care commands money.
Putting off Parenting

The fact of the matter is that children are expensive! They’re worth every penny, but if you don’t have any money, starting a family can seem impossible.

Even those people who already have children have made the difficult decision not to increase the size of their brood. Now they have been forced to tighten their belts financially, 37 per cent of parents say they have decided not to have any more children. This is despite 27 per cent wanting to have more children.

But 65 per cent of parents are already in the position where they have had to cut back on their outgoings in order to provide for their family. More than half are food shopping on a budget, 47 per cent are cutting out all treats and a third of parents are choosing packed lunches over school dinners.

When it comes to clothes - 52 per cent are buying supermarket clothes instead of shopping on the high street and 21 per cent are resorting to using hand-me-downs for siblings rather than buying new clothes.

A fifth of couples are disappointed they won’t be expanding their family further, but acknowledge that it’s for the best.

Two thirds of parents were shocked at how much children cost to raise, but had the credit crunch not happened the average family would consist of at least three children. Twenty four per cent are worried about falling pregnant accidentally and not being able to afford their unborn child.

This survey has shown that the credit crunch has wider implications than many might imagine. It's not just about 'cash in pocket'. A 'Baby Slump' will have a huge effect on the next two generations.

September 2008

See the full results here.

Poll 1
Poll 1 (by Region)
Poll 2
Poll 2 (by Region)


(poll carried out by OnePoll on behalf of TheBabyWebsite.com)
 
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