Financial security ‘needed for families’

People should ensure their finances are in good order before they have a family, a poll has suggested.

A survey by savings and investment firm NS&I found that 64 per cent of people believed that those thinking of having children should first ensure they are financially secure.

Such a view may be of interest to those with debt management issues, as it may be wise to resolve these before venturing into parenthood.

A fifth of respondents said the cost of having children might put them off.

NS&I savings spokesman Tim Mack remarked: “Starting a family is always going to be much more than a purely economic decision, though for some, the financial requirement is clearly an income of £25,000 per year.”

Those sorting out their finances may also wish to work in jobs offering flexibility.

Last month, the Family and Parenting Institute said fathers should be able to combine employment and family life in such a way.

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