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Debts 'encouraging parents to get back to work'
Over 11 million households in the UK are dependent on more than one salary in order to cover living costs, according to new research.
The study by Scottish Widows revealed that of the 6.6 million households with dependent children, four million are reliant on two or more salaries.
Levels of debt amongst adults with dependent kids were also found to be higher when they have children, with the average household including youngsters having over £90,000 outstanding on their mortgage.
Clive Allison, protection director at Scottish Widows, said: "The days of one parent going out to work while the other takes care of the family is just not an option for many people.
"Nearly half of families with dependent children now rely on two incomes to maintain a decent standard of living, and as our stats show, this isn't likely to ease off any time soon."
Martin Lewis of MoneySavingExpert.com recently urged homeowners to avoid the temptation to use credit cards to pay off mortgages or other forms of debt.