Three of four families are financially "on the edge"

The survey of more than 2,000 mothers found that one in five was regularly missing meals so her children could eat.

Almost two-thirds (64pc) have less money coming in than this time last year, and 61pc are short of money every week.

Almost a third (30pc) have borrowed money from friends and family, a quarter (24pc) are living on credit cards and one in 20 has taken out a bank loan to fund everyday living.

Netmums founder Sally Russell said: "It's shocking that seven in 10 families in the UK today are living on the edge of existence - but it's a crisis that needs exposing.

"Mums shouldn't be missing meals to feed their children or turning to loan sharks in modern Britain.

"Family finances are so strained that any more pressure will turn this personal crisis into a catastrophe for the nation."

A spokeswoman for the Department for Work and Pensions said: "Our welfare reforms will have a dynamic impact on some of the poorest families and will lift over one million people out of poverty. We continue to support low income families and put £6.5 billion a year into financial support for lone parents, but we know that debt remains a real driver of poverty.

Fact 

If you are looking to earn some extra cash, don’t assume
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"This is why we need credit unions to be supported and strengthened to ensure that illegal loan sharks can't plague the homes of vulnerable people and offer a real alternative to doorstep and payday lenders. We are working on the best ways to help credit unions expand and modernise so that more families can have access to affordable credit."

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According to a  survey, not many people are familiar with Debt Management Plan, 
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Fallen for your first property? Seal the deal by Valentine's Day!

First-time buyers who want to benefit from the current stamp duty holiday will have to find their new love nest by Valentine's Day, a property firm has calculated.

First-time buyers who want to benefit from the current stamp duty holiday will have to find their new love nest by Valentine's Day, a property firm has calculated.

The current first-time buyer exemption from the 1pc tax for properties under £250,000 runs out on March 24. However, property group Move With Us calculates that it takes 39 days on average between an offer being accepted and the transaction being completed, meaning that February 14 is the last possible date for home owners to put an offer in.

"Although the Government is ending the stamp duty relief exemption because it says it has not been popular, if you are a first-time buyer and looking to buy soon then you would be a fool not to try and take advantage of it before it ends," said Robin King, director of Move With Us.

"While we are is keen to stress that whilst these are average figures, aspiring home owners who want to qualify need to get a move on to find their dream home, as well as having the necessary documentation ready to speed up the purchase."

Stamp duty on a house worth £200,000 is £2,000, so the exemption represents a significant saving. To be eligible, both members of a couple have to be first-time buyers.

FACT 

"At Heart Finance  we search the entire market in order to help you find the best deal you possibly can.

We are committed to offering our customers the highest possible 

standards of service

We recognise that both we and our customers have everything to gain if we look after your best interests and treat you fairly in all aspects of our dealings with you

Only recommend a mortgage or financial services product that we consider suitable for you and that you can afford – Our lenders charge the lowest fees of all - and always the most suitable from the available options " 

Wendy Evans-Scott, of the National Association of Estate Agents, said that the proportion of first-time buyers had risen slightly late last year, but still represented a low percentage of average sales.

"It is impossible to predict what impact the end of the tax exemption will have on first-time buyers, particularly those on very tight budgets of under £250,000 for whom the 1pc tax could be disastrous," she said. "The Government will need to monitor sales closely and consider other action to support the fragile first time buyer market."

From The Telegraph 

Average pay rise fails to match inflation

UK families to be squeezed further as it is revealed inflation will dwarf average payrise.

The squeeze on cash-strapped households is set to continue this year after businesses said they plan to award average pay rises of just 1.1pc.

With business employers only expecting salary increases to rise slightly from last year's 0.9pc hikes, the report by ICAEW/Grant Thornton warned that "with the effects of inflation it will feel like a pay freeze for the majority of employees".

The report also found that the private sector will not create jobs quickly enough to stop unemployment rising, although small businesses will be hiring faster than larger companies.

It urged Chancellor George Osborne to use next month's Budget to boost business as it predicted the UK will slip back into recession in coming months.

Companies' confidence levels remained depressed at a reading of minus 9.3 over the three months to the end of January, having failed to recover significantly following its collapse in the previous three months. It said the measure is a reliable indicator of economic growth, suggesting that GDP will fall by 0.2pc in the first quarter of 2012 – the same amount it contracted in the previous quarter, pushing the UK economy back into an official recession.

Fact 

If you are looking to earn some extra cash, don’t assume
the whole of British business is struggling.

Heart Finance are now recruiting agents throughout the United Kingdom to promote our business.

Did you know? - Every day more and more people are starting their own home based businesses to achieve flexible working hours, independence and more family time. Whatever the reason, we are sure you will agree that the Heart Finance agent opportunity is an exciting opportunity for you to work from home and build your business. You can achieve a level of success with all the backing of a franchise, only without the massive investment.

Click here to Download our agent brochure and find out more.

The survey found that businesses are reining in on investment amid the gloom and job creation plans remain "subdued".

ICAEW chief executive Michael Izza said: "This survey shows that businesses are responding to concerns about the economic outlook by cutting back on investment in equipment and people.

"This is at a time when Government desperately needs businesses to be growing.

"At the moment, it is hard to see where this growth will come from and the Chancellor needs to use the forthcoming budget to give businesses reasons to be more confident about the future – and unlock potential investments."

Shadow business secretary Chuka Umunna said: "Businesses up and down the country are struggling because ministers are cutting spending and raising taxes too far and too fast, choking off growth before the effects of the eurozone crisis were brought to bear on the UK economy."

From The Telegraph