You're not the only one if you think juggling your family finance is stressful, as new findings show that some parents stretch the truth on current account applications in order to secure services for their household.
Experian has published a new report revealing that current account fraud has hit a new high since 2009. It believes the main reason for this is because people are not being as honest as they should be when describing their financial situation in applications.
The firm's researchers discovered that 44 in every 10,000 submissions for current accounts between January and March 2012 were considered deceptive. According to Experian, this represents a 23% increase on the figure recorded between October and December of last year.
The results suggest that in the current economic climate, many people in the UK are becoming so desperate for cash that they are resorting to lying in a bid to secure financial services.
The latest figure is thought to be the highest rate since the company began collating reports in 2009, and it is also the major driving force behind a 16% rise in the rate of overall financial services fraud.
Between January and March of this year, 19 in every 10,000 submissions made for financial services in general were flagged up and branded false, the report said.
Experian also discovered that the people who pen fraudulent current account applications are usually "financially stressed". It found that they tend to hide or twist details concerning their personal circumstances by not owning up to poor credit histories when attempting to gain an overdraft or open a new bank account.
How to manage your family finances better
Thankfully, there are ways to avoid getting a knock on the door from the financial authorities. Investing time in financial planning - such as creating a budget - is key to managing your household's cash, as it can help you to plan better for key purchases for you and your little ones.
Meanwhile, taking the time to improve your credit rating and understanding what it means can be beneficial. Having a good credit rating will ensure that any further financial applications you make, either for a new current account or even for a loan, will pass through without any hiccups.