Survey highlights
cost of a family

A survey has shown that around 64% of Britons believe people should be financially secure before thinking about starting a family.

Two thirds of those quizzed said couples should wait until they could afford it before having any children, with the average person saying households should ideally have an income of at least £25,000 a year.

The costs involved when raising a family seriously put off one in five participants.

According to National Savings and Investments, just 26% of the 1,049 people questioned said they did not think money should be a consideration when deciding when to start a family.

The research, which was carried out by the Future Foundation, found the biggest influence on the number of children people decided to have was the standard of living they would be able to provide at 78%, followed by the cost of raising children at 73%.

Barry Clark, account director at the Future Foundation, said: "Our data suggests that over the past 60 years, GDP growth and the change in birth rates in the UK have been closely linked, so we expect that coming years will show more than ever that finances and families are related on both a personal and national economic scale."

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To find out more about budgeting for a baby click here.