Rising energy bills are the biggest financial worry for UK parents, finds survey

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18th March 2022 12:09 - Utilities

Rising energy bills are the biggest financial worry for UK parents: A survey of British parents asking them about their greatest concerns amid the cost of living crisis has revealed that of all the issues which are troubling parents, rising energy costs are the greatest.

The survey by mobile phone company, Swycha, polled more than 2,000 households for the research which asked how rising living costs were affecting their lives and the ways in which it was financially impacting the way they support their children.

Seven out of 10 parents (70%) said that rising energy bills (gas, water and electric) were the most difficult cost facing them today, whilst almost two-thirds said that they had worries about the rising cost of food and feeding their families (64%).

Almost six in 10 (58%) revealed that the rising cost of petrol and diesel was a cause for concern in their household, followed by affording spending money to do things with their children (42%).

Birthdays and Christmas was also at the forefront of many parents' minds, with around two-fifths (42%) reporting that they were worried about being able to afford such celebrations, while a third had concerns about being able to afford items to do with their child’s education such as uniform, school lunches and after school sports clubs (33%).

Paying for direct debits such as mobile phone contracts (31%), finding money for their own hobbies and leisure time (25%) and rising National Insurance contributions (15%) were also revealed to be troubling British parents as the cost of living crisis intensifies.

How parents are cutting back

Cutting back on energy use by limiting the use of heating, electricity and water also ranked highly in the top ten things families are having to sacrifice due to rising UK living costs, coming in second to 'not going on holiday this year', which was the top sacrifice cited by parents.

In third, was switching supermarkets or using own brand products to reduce the food shopping bill, followed by 'parents not buying clothes for themselves' (4th), 'cutting back on fuel' through taking public transport or using the car less (5th), and 'parents not going out and socialising' (6th). Parents also said they are cutting back on dining out and takeaways (7th), cancelling subscriptions and streaming services (8th),  giving up on their own hobbies or cutting back on them (9th), and putting buying a new house, or home improvements on hold (10th).

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