Families are being pushed to breaking point because of the state of their finances, according to a new report.

Research among 1,500 adults by the Scottish Widows think-tank, the Centre for the Modern Family, revealed “increasingly desperate” measures being taken to cope with the impact of recession. One in five said they struggled to cope financially, while a further two in five were “just getting by”. Increased living costs and falling wages, coupled with the rising cost of childcare and the ongoing economic climate were creating a nation of “on-the-brink Britons”, said the report. Eighteen to 34-year-olds were more likely to have resorted to selling items online in the past year to make ends meet, and were twice as likely as other adults to have taken out a payday loan to tide them over. One in five young people have been left unable to pay household bills and one in eight have skipped meals to ensure their family eats well.

Lord Leitch, chairman of Centre for the Modern Family, said: “These findings paint a stark and in some cases desperate picture of family life in Britain today as families feel the squeeze of the.....Read more here: Families Star