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Lone parents look to friends and families for financial support

The Department for Work and Pensions has recently published the ninth in a series of annual surveys that examines the circumstances of British families with dependant children. The information hub includes an extract from the 2007 report, focusing on money management and savings as a distinct feature of family life.

In 2007, a quarter of households with children were lone-parent families. DWP data provides evidence of higher-than-average levels of borrowing and debt among this demographic cohort.

Over half (52 per cent) had borrowed money (excluding mortgages) in the previous twelve months.
Friends and relatives were the second most popular source of credit after bank overdrafts.
Worryingly, lone parent families were more likely to be up to date with their credit commitments than their household bills. Lone parents were most likely to be behind with their water rates (11 per cent), Council Tax (8 per cent) and fuel (7 per cent).

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  • Total unsecured debt: £500

    Click here to read the privacy policy
  • This field is for validation purposes and should be left unchanged.
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