A recent study shows a majority of parents struggle providing for their children because of debt.
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A recent study shows a majority of parents struggle providing for their children because of debt, according to Christian Today.
Christians Against Poverty, a debt counseling charity, surveyed 1,500 of its clients on the impact debt has on their families.
Of the parents surveyed, 61 percent said debt affected their ability to provide for their children.
More than half of respondents said debt has made them unable to clothe their children properly, while 18 percent can’t provide enough food.
“Parents on low incomes can so easily fall into debt,” Matt Barlow, chief executive officer of Christians Against Poverty, told Christian Today. “It just takes something like a broken washing machine and a bit of easy credit and within weeks that family finds themselves servicing a debt with the little they have. That escalating pressure can have a very destructive impact on the whole family which means children suffer, too.”
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Joey Ferguson is a business reporter for the Deseret News who focuses on public finance. He joined Deseret News after graduating from Brigham Young University-Idaho with a bachelor's degree in journalism in May 2011. He more ..
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