More than a quarter of parents ‘expect their finances to get worse’
9 March 2021, 00:04
Three in five parents who said they needed support during the coronavirus pandemic reported being unable to access it.
One in five (20%) parents have experienced financial difficulties during the coronavirus pandemic, a report has found.
And more than a quarter (28%) of parents expect their personal finances to get worse, according to the findings released by insurer LV= and charity Family Action.
The research involved a survey from December to January of 4,000 parents across the UK with children aged under 18.
It found that three in five (62%) of parents who said they needed support during the pandemic, including financial support, counselling or help from family or friends, have been unable to access it.
The reasons for this included not meeting the eligibility requirements, feeling too afraid to ask, feeling others needed the support more than them, and support being unavailable in their area or not knowing how to access it.
Heather Smith, managing director at LV= General Insurance, said: “One of the most worrying findings is the number of parents who have struggled to access support.
“We hope that through our partnership, we can help Family Action reach thousands of vulnerable families by increasing the capacity of its FamilyLine helpline and raise awareness of the support available for families who need some extra help right now and in the future.”
David Holmes, chief executive, Family Action, said: “More and more families are facing new challenges, including pressures around finances, parenting, relationships, mental health and more – and many do not know where to turn or may feel too embarrassed to ask for help. We want people to know that support is out there.”
