Mothers accepting pay cuts for flexibility

18/09/2009

Around one in two mothers are resigned to taking a pay cut in order to enjoy the flexibility they need to raise a young family.

Despite the fact that the rising cost of living and general economic uncertainty means that many run the risk of falling into debt as a result of such a lifestyle choice, 54 per cent of those polled in a new study said that they were willing to accept a less well-paid position in return for greater flexibility.

Flexibility was found to be the most important consideration for mothers returning to work, with 85 per cent of those polled by the website workingmums.co.uk stating that this is the biggest benefit a family-friendly employer can give its workforce.

Commenting on the findings, the site's founder Gillian Nissim told Reuters that working mothers should be aware that flexible working is a "two-way street", with employees encouraged to highlight the advantages of such practices to their employers and be prepared to engage in honest "conversation and dialogue".

At the same time, new research carried out by the Joseph Rowntree Foundation has found that a majority of Britons still expect the male to be a family's main breadwinner.

Kevin Still, director of EuroDebt, said: "Life choices may need to be re-evaluated during the economic downturn if it means ensuring the long-term sustainability of life style and family stability. People should avoid getting into debt where there are viable alternative solutions.

"Many households have had to significantly tighten their belts during the recession and this can be difficult with a young family where kids remain financially demanding and peer pressure can play a part.

"As a debt solution provider, EuroDebt would recommend that prevention is better than cure. Deciding to take a cut in household income needs to be carefully budgeted, especially where there is an additional cost in the form of a newborn child.

"It is often tempting to use further credit to fund these extra costs. This can be the start of a 'debt spiral'. loss of income remains EuroDebt's number one reason why people start a Debt Management Plan or an IVA."

Tags; Young Family Finances,

• Share
• 
• 
• Store
• 
• Follow
•