Nearly half of parents now regularly go without things for themselves to make sure they can provide for their children, a survey has found.
The UK Parents and Cost of Living Report said that the figure was 47 per cent. A fifth also say that having a child has exacerbated the impact of the rising cost of living and two in 10 parents (21 per cent) said they had turned to credit to make ends meet
The report, commissioned by VoucherCodes.co.uk, says that 35 per cent of mums and dads are now spending more on day-to-day items for their children than ever before and are struggling with their daily finances as a result.
More than a quarter of parents (28 per cent) say that food, clothes and toys have become so expensive there are things that they now simply cannot afford to buy. A further fifth (22 per cent) have been forced to dip into their savings to pay for their child’s needs.
Duncan Jennings, co-founder of VoucherCodes.co.uk, said: “The relentless rise in the cost of living over recent years has left no-one unscathed but it is clear that those parents with children under 18 are feeling the pinch more. Many parents now say they are spending more than ever just to provide the basics their kids need. At the same time some of these items, which are not luxuries but fundamental basics such as food and clothes, have now become so expensive that parents say they simply can’t buy them for their children.”