How Families Can Navigate the Cost of Living Crisis

In recent years, families across the UK have found themselves navigating an increasingly difficult financial landscape. Rising food prices, soaring energy bills, and stagnating wages have pushed many households to the brink. For some, it means making tough choices—like heating or eating. For others, it means their children go without essentials every day. Over 3.9 million children and young people across the UK are in poverty, and a shocking 23.4 million people will be unable to afford this financial strain. This is the harsh reality of the cost of living crisis.

Children at the Centre of the Crisis

While the cost of living affects everyone, its impact on children is especially alarming. When a family struggles financially, it’s often the youngest who suffer in silence. Basic items like school uniforms, nutritious meals, extracurricular activities, and even toys become luxuries many can’t afford.

Imagine trying to focus at school while hungry. Or feeling isolated because you can’t join your friends on a school trip. These are everyday realities for thousands of children across the UK. Financial hardship doesn’t just affect a child’s physical well-being; it affects their education, their mental health, and their sense of belonging. Research consistently shows that children from higher-income families tend to experience significantly better outcomes both in the short and long term—achieving higher academic attainment, exhibiting fewer behavioural difficulties, and later in life, being more likely to attend university and secure higher-paying jobs. Shouldn’t every child have the chance to thrive, no matter their family’s financial situation?

The Hidden Toll on Mental Health

For children, growing up in financial uncertainty can be deeply unsettling. It can breed anxiety, lower self-esteem, and lead to long-term emotional stress. When parents are constantly worried about making ends meet, the stress trickles down. Many children take on emotional burdens far too heavy for their age; worrying about bills, their parents’ health, or whether they’ll have dinner that night. Three in ten children worry about their family having enough money to live comfortably, with the figure rising to 47% for children from low-income backgrounds – this is no problem any child should have to go through.