The latest Aviva Family Finance Report shows that the percentage of stay-at-home mums has almost halved since the ‘60s and ‘70s.
Many more families are creating bespoke parenting and childcare styles, using a mixture of grandparents, nurseries and part-time work.
The respondents to Aviva’s survey include the parents of Generation X (born between 1965 and 1980), Generation Y (born between 1981 and 2000) and Generation Z (who have birthdates from 2001 to 2014).
By analysing their responses, it is possible to map the shift in parenting over the last fifty years.
Breadwinners
The percentage of families with a mum who is a full-time homemaker has almost halved between Generation X and Generation Z, from 62% to 34%.
Over the same period, the percentage of families who rely on two full-time incomes has doubled from 11% to 22%.
Breadwinning is shared more equally and female breadwinners are on the increase in many UK families. The number of families where both parents are equal earners is also increasing.
Childcare
The use of childcare is growing while over the last five years childcare costs have risen by 27%, meaning that parents pay £1,214 more in 2014 than they did in 2009.
Despite these increases, the percentage of families that use no childcare at all has fallen dramatically.
While 60% of Generation X parents did not need to use childcare for their children, just 33% of Generation Z said the same.
25% of Generation Z parents use nursery-based childcare, compared with 10% of Generation X parents.
Grandparents are very important……….
Unpaid childcare, generally from grandparents, has risen as well.
29% of Generation Z parents rely on grandparental childcare, compared with 22% of Generation X parents.
In 2011, Aviva research suggested UK grandparents were providing £33 billion of free childcare each year.
…….but for how much longer?
However, the tradition of using grandparents for childcare may be under threat, given rising retirement ages.
Recent ONS statistics show that 10% of those aged over 65 has a job, up from 5% in 1993.
The state pension age is due to rise to 67 in 2028 meaning that fewer grandparents may have the time to care for their grandchildren.
Shared responsibilities
Although 70% of mothers still take on the main task of looking after the children, this has dropped from 83% (Generation X)
More than 25% of families have parents who share the childcare equally.
Only 15% of Generation X parents did the same.
Housing issues
As house prices have increased and it has become harder to get a mortgage, the percentage of families in rented accommodation has also grown.
After dipping to 10% for Generation Y parents, it has risen sharply to 18%.
Welcome changes
Aviva’s report reveals that most families believe that recent changes to working patterns.
Legally enshrined parental leave and the ability to work flexibly are positive things.
60% of parents across all generations feel that today’s parents are lucky to be able to combine their family life with working, despite the cost of childcare and other pressures this can bring.
77% of parents now feel that fathers are more hands-on with their children than they were in previous generations.
80% feel that today’s fathers are lucky to have more opportunities to spend time with their children.
Sources: www.aviva.co.uk (Media Centre: 2014/07/16)