Higher costs of living and increase in debt have been held responsible for a massive amount of UK households with two breadwinners. Over 3.5 million UK households with dependant children are reliant on two salaries, a new study has found.

Research by Scottish Widows has found that 11 million UK households now rely on more than one salary to cover the bills. It is not uncommon for families on two incomes to still be struggling with debt, or trying to pay off debts by using a debt management plan or IVA.

The cost of living now means that 44% of UK households have more than one person in employment in order to maintain an acceptable standard of living. The study also showed the need for two incomes increases for households with dependant children, forcing parents to work more and spend less time with their children.

Richard Jones from Scottish Widows commented on the findings, “This reliance on two incomes to buy and run the family home means millions of households are effectively doubling the risk of financial hardship should one of bread winners become unable to work.”

“Our report reveals that the mixture of relatively low interest rates and high job security means borrowing has been an attractive option in recent years. The problem is that servicing this debt eats into our take home pay and exposes us to financial hardship should we be unable to work,” Mr. Jones said.