The real financial burden of helping out hard-up family and friends was highlighted by insurer Aviva yesterday. We discuss how working from home can alleviate the issue.

Aviva announced in a report yesterday that the average amount that households give to family and friends in need is £442, or £17,680 a year. Almost 30% of households give this much away as the dynamics of the modern family change to include close friends into their wider social circle as opposed to extended family members such as aunts and uncles.

Altruism comes at a cost

The people most likely to receive handouts from friends or family are mothers (10%), fathers (7%), grown-up children who do not live at home (7%) and sisters (5%). Whilst this altruism is commendable, the cost can have a negative impact on family finances. Aviva suggested that in most cases it would be more advisable to offer other forms of practical assistance rather than financial aid. Meeting one off expenses and dealing with the aftermath of being made unemployed were the top reasons that families helped others out, but they could help with the search for suitable credit arrangements or job vacancies instead.

How can working from home help?

Due to inflation rising above average wages for the first time in 40 years, families are really counting every penny. Households can alleviate financial pressure by looking at alternative forms of income. Most families have at least one adult working full-time, but often, stay at home mums can fit in a few hours work in the morning or afternoon. If children are at a nursery or day care centre, this amount could be increased. Working from home requires no expense for uniform or office attire, lunch, travel or fuel costs. Jobs that require working from home, such as freelance translation and transcription, offer complete flexibility so you are always in control of how much you work.

Language Insight are always looking for qualified freelance translators and transcriptionists/typists who specialise in legal, medical or market research sectors. Get in touch if you want to know more about our rates and availability.

Image credit: Images_of_Money