Hard-working parents sacrifice family time

For many families spending quality time with their children isn't at the top of their priority list, according to research from the first annual Scottish Widows Priorities of Life index. One fifth of parents and grandparents (21%) believe they are not prioritising their children or grandchildren enough.

Busy working lives and hectic schedules mean parents are increasingly running out of time to spend with their children and, much as they would like to prioritise them, family just doesn't come first. When asked what they wished they had more time for, a third (32%) of parents said friends and family.

What do parents wish they had more time for?
 
Time with family and friends 32%
Just time to myself 13%
Saving for the future 11%
Exercise/healthy lifestyle 10%
Time to have fun 9%
Hobbies 7%
Time to focus on my relationship 5%
Time to plan for the future 3%
More time to focus on my career 2%

Alison Morris, savings expert for Scottish Widows says: "It's clear that families are under pressure, and unfortunately for many parents it's their kids that are suffering. We know that balancing work and family life can be difficult, and with studies showing that 60% of fathers work over 40 hours a week, it's no surprise that parents want to spend more time with their children."

A third (31%) of parents who are not spending enough time with their families admit their job gets in the way of quality time at home, and nearly half (46%) of the parents and grandparents who feel they are not putting their family first said this was because they simply don't have enough time to spend with the kids. But time-poor parents who work long hours to provide for their families could wind up losing out on more than just money if they don't make enough time with their kids. Financial security is also a key concern for parents, as a quarter (25%) worry about neglecting this. 

Alison Morris, savings expert for Scottish Widows continues: "We understand the pressure parents are under to make enough time for their kids, and we know it's not easy to always prioritise them highly enough. Parents should make sure they plan quality time with their children if they are worried about neglecting these important relationships. Its understandable parents want to work hard to provide for their children's futures, but they could be missing out on spending valuable time with them growing up.

"Taking the time to plan finances now could relieve some of the monetary pressure, as well as giving parent's some precious extra time with their families now and in later years. The fact that so many parents admit they worry about neglecting their children shows how some extra financial planning could ease unnecessary stress and guilt amongst working parents.  For those that are able to put money aside for their retirement, the golden rule is to save 12% of your income.  Getting your finances in shape will give you peace of mind knowing that you have one less thing to worry about."

What are the things parents worry about neglecting in their life?
 
Health 36%
Children 34%
Relationships 33%
Financial Security 25%
Money 24%
Friends 18%
Having fun 15%
Home 15%
Savings 14%
Career 8%
Holidays 7%
Job security 5%