For many parents, doing everything possible for their children comes naturally. But when the cost of living keeps climbing, that love and dedication can come at a heavy price. A new National Debt Relief study featured by LiveNOW from FOX shows that most parents are taking on debt just to care for their kids—and it’s leaving many families feeling stretched thin and worn down.
According to the study, 77% of parents say they are currently in debt, and nearly half describe their debt as “unmanageable.” For these families, debt affects how they live every day. About 63% of parents in debt said their finances make it harder to give their children what they need, while many admit they often put their kids first, even if it means skipping meals or putting off doctor visits.
The findings reveal a growing strain on families across the country. More than half of parents said rising prices make it harder to provide for their children, and 57% of parents in debt said their financial situation makes them hesitant to grow their family. Single parents are feeling this stress even more deeply. Six in ten said they struggle to cover basic needs, and more than half said their debt feels unmanageable. These challenges often spill over into other worries—like not being able to save for college or afford medical care in an emergency.
Natalia Brown, Chief Consumer Affairs and Creditor Relations Officer at National Debt Relief, says the results highlight how debt is reshaping what it means to be a parent today: “Debt is becoming unmanageable for today’s parents, and while so many are lovingly putting their kids first, it’s often at their own expense.” She added that asking for help shouldn’t be seen as failure but as a brave step toward protecting a family’s future.
Many parents also worry about how their debt could shape their children’s future. Parents with student loan debt, for example, still owe an average of about $23,000—making it tough to save for their kids’ education. Nearly one in three parents also said they fear they couldn’t afford a medical emergency. As Dasha Kennedy, a member of National Debt Relief’s Financial Wellness Board, explained, debt can feel like a never-ending cycle, but it doesn’t have to stay that way. With the right guidance and support, families can find a path toward stability and peace of mind.
The study also highlights how even everyday experiences, like summer childcare or camps, can lead to financial strain. Two-thirds of parents said they went into debt to cover summer expenses, spending about $900 per child. Many cut back on entertainment or dining out to make it work—but for some, that still isn’t enough.
For parents feeling overwhelmed by debt, solutions like debt settlement can provide real relief—helping reduce what’s owed and create a plan to move forward. National Debt Relief’s programs are designed to help families take control of their finances, ease stress, and focus on what matters most: their children and their future.
To learn more about the study and its insights, check out the full article on LiveNOW from FOX.
