'Cost-of-children crisis': the mounting expenses of parenthood

Analysis shows that one in five UK households with children are in 'serious financial difficulty'

Woman looking at bills while holding baby
Many parents are struggling to pay for costs including childcare, food and housing
(Image credit: Getty Images/athima tongloom)

Parents across the UK are facing a "cost-of-children crisis" as families are hit especially hard by high inflation, a leading charity has warning. 

An analysis by Action for Children of data from a survey of more than 5,000 UK households in May found that one in five homes with children were in "serious financial difficulty".

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Marc Shoffman is an NCTJ-qualified award-winning freelance journalist, specialising in business, property and personal finance. He has a BA in multimedia journalism from Bournemouth University and a master’s in financial journalism from City University, London. His career began at FT Business trade publication Financial Adviser, during the 2008 banking crash. In 2013, he moved to MailOnline’s personal finance section This is Money, where he covered topics ranging from mortgages and pensions to investments and even a bit of Bitcoin. Since going freelance in 2016, his work has appeared in MoneyWeek, The Times, The Mail on Sunday and on the i news site.