Debts pile up for unprepared first time mums on maternity leave | Debt Advice Foundation

Debts pile up for unprepared first time mums on maternity leave

Nearly 30% of first time mothers have found themselves in debt – almost £2,500 on average – because of maternity leave, according to a new study by uSwitch.com.  Just a quarter of those surveyed felt they had been financial prepared for the change to motherhood.

Just over 10% said they had gone back to work early because of their financial situation, and a similar number said they had borrowed cash from relatives to get by.  Some 14% had used credit cards, loans and overdrafts to make ends meet.

Nearly 30% of first time mothers have found themselves in debt – almost £2,500 on average – because of maternity leave, according to a new study by uSwitch.com.  Just a quarter of those surveyed felt they had been financial prepared for the change to motherhood.

Just over 10% said they had gone back to work early because of their financial situation, and a similar number said they had borrowed cash from relatives to get by.  Some 14% had used credit cards, loans and overdrafts to make ends meet.

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