Many parents are concerned that their children are not financially aware and will get themselves into debt when they are older, it has been found.
A poll conducted by Nationwide discovered that 62 per cent of parents thought that their kids would make financial mistakes when they grew up.
However, only one in ten said they regularly talk to their children about money and less then half thought they knew a lot about budgeting themselves.
Barry Sheerman MP, chair of the Children, Schools and Families Select Committee, said: "Too many people are unsure about key financial issues in their lives and I want to see this change."
He also added that it was important for people to "make the most of their money when things are going well" but be sensible and get into difficulties during economic downturns.
According to the Guardian, many young people now feel it is not worth getting into debt in order to go to university because they have seen their parents struggling to make ends meet.
Compare prices from lots of lenders with our loans quote system. |
0 comments
