I38: Economical Families

Busy families with children, who own their low-cost homes and budget carefully

Type of Family Basics consisting of 2.13% of households and 2.24% of population

Who We Are

  • Aged 36-45
  • Household income £30k-£39,999
  • One child
  • Owned terraced house
  • Medium level of household technology

Key Features

  • Families with many children
  • Low value terraces
  • Low to mid household income
  • Low discretionary income
  • Internet via smartphone
  • Games consoles

Description

Economical Families are households with children, who have purchased low-priced homes. Parents are usually aged between their late twenties and early forties and children range from pre-school to secondary age.

Their properties are priced at a very affordable level, making them a good choice for families on lower budgets. Some are found in estates of ex-council housing, others are cheaper properties in suburbs that offer value for money. Most homes were built before 1980, are terraced or semi-detached and typically have three bedrooms.

Many parents work in lower-level occupations, perhaps in local manufacturing or trading businesses. They earn below-average wages, and both often work full-time to bring in sufficient money to cover day-to-day expenses. Mortgage payments and the costs of raising a family take a significant proportion of their income, even though these consumers buy budget ranges. There is little cash to spare for savings.

They like to find bargains online, often searching for children’s toys and computer games. Using Click and Collect services can save them time and some get their groceries delivered. They enjoy keeping in touch with friends and family on social media.