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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