Spain: 8 out of 10 large families, financially burdened by rising prices and back to school expenses

Report from a 2023 study on large families by FEFN

The rise in food prices, interest rates and back to school expenses have had a strong impact on the economy of large families according to the Study on Large Families in Spain, carried out by the Spanish Federation of Large Families (FEFN), with the support of the Ministry of Social Rights and Agenda 20230, with surveys of more than 9,000 large families from different parts of Spain. The study confirms that only 22% of these households live without economic difficulties; the rest, 78%, that is, 8 out of 10 large families, claim to have difficulties covering all important expenses, and are forced to “do a lot of numbers” (26%); cut secondary expenses (25%), and use savings or ask for a loan, as 1 in 5 families do, 20%, a percentage that was 12% last year.

The study shows that September is a complicated month for families, especially due to back to school, an extra that households with more children face by removing expenses from others chapters, according to 48% of families, or savings (44%). The economic impact of the start of the school year affects most families: only 16% of families claim to assume without difficulties back to school expenses.

Furthermore, the back-to-school expenses have been added this year to the rise in the mortgage, which has affected 1 in 2 large families, and the rise in all prices, especially the shopping basket. The effect of which has forced the vast majority of families to change their purchasing habits (96%), according to the study. Regarding this, 65% of families affirm that they now compare prices more and opt for white or private label; 60% look for and buy what is on sale in the supermarket and 30%, almost 1 in 3 families, have reduced the purchase of fresh products such as meat, fish and fruit.

The study also confirms that family economy is a real headache for the families. Almost half of them (48%) say they have looked for various “options to increase income,” although they have not been able to and have had no choice but to adjust expenses even further. Likewise, 18% of them have opted for moonlighting to have more income and 13% have thought about changing jobs.

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