37.5% of Balearics families cut child spending
Families across the Balearic Islands are cutting spending on their children as household budgets come under strain. A Cofidis study released on Wednesday, 16 September, found that 37.5% of families with children aged up to 18 had made cuts over the past year for financial reasons. At the same time, 77.3% said the cost of bringing up children had risen.
The sharpest cuts fall on leisure, named by 69.7% of families that had reduced child-related spending. After-school activities followed at 60.6%, while 54.5% had cut back on clothes and shoes. School materials and transport were less affected, at 9.1%.
Camps and private healthcare harder to reach
After-school activities are widely used by households with children in the Balearics, with 83% using them. Private healthcare is used by 79.5%, while 70.5% use camps or take holidays.
But access is proving difficult for some of those families. Half reported barriers to camps and holidays, compared with 37.1% for private healthcare and 35.6% for after-school activities.
Money pressure reaches family plans
Financial pressure is also shaping decisions about having children, according to Cofidis. Some 34% of households said they had postponed or ruled out having children for economic reasons, while 57.3% said they did not intend to have any more.
Among households considering a larger family, cheaper housing was the most important measure, cited by 23.6%. Direct financial support for each child followed at 22.3%, ahead of better maternity or paternity leave at 20.4%.
Source: Europa Press / Mallorca.com