Only a minority of young people who plan to start a family intend to get married first, a study shows.
Marriage a secondary consideration for would-be parents, poll shows Photo: REX
Polling found that while young people still expect to become parents, the cost of living and increasing uncertainty over jobs means that their understanding of “settling down” is radically different than that of their parents.
Overall 54 per cent of those who plan to start a family said they did not expect to be married by the time they had their first child, the research for Santander Insurance found.
Meanwhile only 45 per cent of them thought they would own their own home before having children and four out of 10 did not expect to enter parenthood with a secure job or even a regular income to cover their outgoings.
Only half of would-be parents expected to have any savings by the time their first child arrives and only a minority thought they would even have completed full time education or own a car.
The prospect of having savings or starting to contribute to a pension is even more distant, with less than a fifth of them expecting to have achieved this before having children.
Richard Al-Dabbagh, of Santander Insurance, said: “Parents are increasingly prioritising having a child over other aspects of life such as home ownership and marriage.
“The financial commitments involved with all of these things are significant and against a backdrop of squeezed incomes it’s simply not possible for every family to tick every box. “However, having some form of financial contingency is vital.”
SOURCE: The Telegraph