A new report has found that the cost of living crisis has majorly affected family planning for 18 to 34-year-olds. According to insurer, Royal London, more than one in five young people say the cost of living has directly affected their family planning. And 8% say it’s delayed them having children.
18% of parents have no money for unexpected bills or emergencies Researchers from YouGov asked 4,018 adults about their spending habits between 22 February and 7 March 2024. The findings were published in the Financial Resilience Report 2024 – Weathering the cost of living crisis on Wednesday 29 May,
‘When prices for food and energy were increasing, we saw people cut back and make changes to their spending and shopping habits, but now we’re seeing that some major life decisions are being delayed as people are weighing up whether or not they can afford to act on the plans they’d made.’ ‘It’s worrying that so many people are going into the red or borrowing to afford monthly expenses,’ Sarah said.