Over 70 per cent UK families financially “on the edge”

Over 70 per cent of families in the were financially "on the edge'',  reveals new research published yesterday. 

The report says they were teetering on the brink of poverty and could face ruin in the event of further price increases or falls in their income, according to parenting site Netmums' study.

The survey, which polled over 2,000 mothers, revealed that one in five was regularly missing meals so her children could eat.

A quarter of families were living on credit cards, and 5 per cent took regular payday loans with one in 100 turning to loan sharks to stay afloat (See: Loan sharks make a comeback in recession-hit UK).

The poll further revealed that almost half of families had sold or pawned goods to make money to live, while 16 per cent were undergoing treatment for stress-related illness due to lack of cash.

Close to two-thirds, or 64 per cent, had less money coming in than this time last year, with 61 per cent being short of money every week.