Money and debt problems are causing more than one in three parents to suffer sleepless nights, according to a new survey.

Conducted by worldwide independent children’s charity Save the Children, the study reveals that more than a third (34%) of parents with children under the age of 18 living at home have suffered at least one sleepless night worrying about the family finances. More worryingly, a further 20% have suffered some form of depression due to concerns about debt.

Lower income households are at the most risk of debt-related health problems, as four in ten parents with an annual household income of less than £15,000 admit to suffering depression and stress triggered by financial woes:

“The poorest people in this country are struggling with the cost of living in the real world,” claims Douglas Hamilton, head of Save the Children in Scotland.

The credit crunch is also forcing families to cut back on household essentials, leaving some UK children in danger of living in poverty. Almost half (48%) of the poorest parents surveyed claimed that they have cut back on the amount of food they purchase, with 45% trying to save money by reducing their heating levels.