- Friday, 18 June 2010New mums tend to return to work earlier than expected due to financial concerns and possible fears they will need a
debt management plan.
According to uSwitch.com, 52 per cent of new mothers return to work because of financial worries and nine per cent cut maternity leave short in order to make ends meet.
Furthermore, 41 per cent end up in debt while on maternity leave. The average incurred is £1,329.
Ann Robinson, consumer policy director at uSwitch.com, said: "Debt and financial considerations combine to be the biggest motivating factor behind new mothers returning to the workplace.
"Despite women being told that they can 'have it all' and can choose whether to be a working or stay-at-home mum, the fact is that most have this choice stripped away from them by the financial realities of modern life."
The company also found that 56 per cent of families are not fully prepared for living on a reduced income and costs soar when preparing for the new arrival.
Newborns need cots or a Moses basket, which could cost £80, a pram, clothing, bedding, feeding equipment and nappies.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960