Latest Debt News
Getting into debt main worry for children
24/04/2008 09:40:00
Concern about the economy and the state of the housing market are two of the main concerns for children, one financial expert has said.
In a study of 11 to 15 year-olds by Abbey, 21 per cent said they were worried about falling into debt and being poor when older compared with 15 per cent who were concerned about falling out with friends.
According to the findings, fears about future wealth and falling into debt were more of a concern among 12 year-olds than the results of their exams.
Steve Shore, director of Abbey Banking, said that the news showed just how much information children absorb.
"Parents can calm their children's fears on issues such as house prices and concentrate on teaching their children good financial habits such as saving their pocket money," he said.
Further findings showed that boys were significantly more likely to be worried about being poor and in debt than girls.
Previously, research from Abbey revealed that Brits could save up to £218 million through sensible shopping.
© Adfero Ltd