22nd August 2014

Scottish Widows – The Centre for the Modern Family report

Family lending now at £31 billion in the UK

The Centre for the Modern Family: Family Generations & Financial Pressures Report

This report shows families are pulling together emotionally and financially to support each other, with family lending (lending money to family or friends) increasing to £31 billion. We now include:

Read the report

Key findings are:

• 39% of people don’t feel in control of their financial situation and 28% cite their financial situation as negatively impacting their family’s quality of life
• Half of UK families carry over non mortgage debt from one month to the next
• 24% of families have cut down on vital spending such as groceries

And this is just one part of the story of inter-generational reliance within families, showing that a supportive family unit is as vital as it has ever been.

Find out more about the Centre for the Modern Family or follow them on Twitter @4ModernFamily.

For more information speak to your Scottish Widows account manager. 

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