Millions of young Brits have been forced to delay their plans to start a family as a direct result of the cost-of-living crisis, according to the latest update of the LifeSearch Health, Wealth and Happiness Index. The research found that almost half (45%) of all Brits who had planned to either start a family, or have another child, have delayed their plans due to the cost-of-living crisis, rising to 60% of those aged 18-34.
Of those Brits who have put their family plans on hold, 55% see it as a short-term delay, but 45% say they will not be able to either start a family or have another child ‘for the foreseeable future’, rising to 47% for 18-34s. LifeSearch found that, as well as affecting family plans, the cost-of-living crisis is also impacting other major life decisions for many Brits.
Of those who’d planned to buy a house, a fifth (21%) will no longer be able to in the short term, while 28% have delayed it for the foreseeable future, meaning half of all Brits who had been hoping to buy a home have now been forced to put their plans on hold. In London, this rises to 65%, with the majority of this group saying they have delayed their plans ‘for the foreseeable future’.
