Due to the cost-of-living crisis, 27% of parents with children under the age of three have been ashamed about their financial stability, according to research by Royal London.
The Financial Resilience Report 2024, which surveyed 4,018 UK adults, found that rising costs for everyday bills and essential has been having an emotional impact on adults, alongside the financial impact. Almost one third (31%) of adults were fearful about the future, with one in five (20%) of those aged 18-34 close to falling into, or are already in, financial crisis and being unable to pay major household bills, compared to 13% on average for the sample as a whole. High interest rates and rising mortgages have "hugely impacted" people in this age group, Royal London said. Overall, ...
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