More than one in three of parents have suffered sleepless nights because of worries over money and debt problems, a survey has found.

A survey conducted by YouGov for the charity Save the Children revealed that concerns over family finances have led to at least one sleepless night for 34% of parents who have children under the age of 18 whilst a further 20% admitted to have suffered from some form of depression because of concerns over debt and family finances.

Lower income families were the most vulnerable according to the survey, with percentage of parents having sleepless nights over financial worries rising to 47% in households with an income of less than £15,000. The percentage of parents suffering from depression rose to 40%.

The research also revealed that financial pressures were also forcing many families to cut spending on many household essentials, with nearly half (48%) having had to cut back on food and 45% on heating.

Save the Children said the new research showed that the poorest families were paying a high emotional price for the financial crisis and that it could have a damaging effect on their children.

Douglas Hamilton, head of Save the Children in Scotland, said: “It is shocking that while the (UK) Government is agonising over the plight of City bankers, the poorest in this country are struggling with the cost of living in the real world.

“It is always the poorest people and their children who suffer most when times are tough.

“It is high time the poorest received some help to cope with this financial crisis.

“No child should have to grow up with the burden of stress and poverty.”

If debt problems are causing stress and anxiety for you and your family, use our free Debt Calculator to see what help and advice is available to you.