The average family has two children, a pet dog, an income of £29,688 a year, lives in a three-bed house and drives a Ford Focus according to the latest Great British Family Report by Nationwide.
The report polled 2,000 families and found that parents work an average of 30 hours a week and revealed that women are far more likely to manage the household finances than men.
The majority (78%) of families have a substantial mortgage still to pay off, with just one in 10 of those surveyed owning their home outright.
Phil Smith, head of current accounts at Nationwide, said: “Families should make time to review the household budget regularly.
“Staying on top of finances and learning to put any excess cash away will ensure that goals can be set and achieved.”
The report said the average household has around £8,000 in savings, and owe an average of of £1,315 on personal loans.