Inflating expenditure associated with running a home means more that 11 million households now need more than one breadwinner in order to keep on top of payments.
What's more, almost half of the 7.1 million households with dependent children (49 per cent) need more than one adult to contribute towards bills.
Julian King from the UK's leading home purchase company National Homebuyers is not surprised. "With lenders extending available mortgages to five times income, consumer debt at an all time high and the cost of running a home having increased 12 per cent in the last year, we are not surprised people are struggling."
Around 3.5 million mothers are being forced back to work in order to avert a potential financial crisis, according to pension provider Scottish Widows.
"This reliance on two incomes to buy and run the family home means millions of households are effectively doubling the risk of financial hardship should one of bread winners become unable to work," Scottish Widows' interim protection market director Richard Jones confirmed.
Nearly five in ten Britons (47 per cent) have a mortgage, 60 per cent secured or unsecured loans, overdrafts or finance agreements, and 63 per cent credit or store card debt, a Scottish Widows' survey found - contributing to average household debt of over £100,000 for those with children.
Consequently, less than half of people in the UK have more than two months' salary secured as savings - meaning more pensioners are turning to equity release as a way of funding retirement.
Julian King concludes: "People are trying to find a way of their predicament and many are considering options like our fast property sale or sell and rent back solutions. We anticipate with the imminent interest rate rises and the introduction of Hips that we will be receiving thousands more enquiries over the coming months."
