As we reach the mid point of the school summer holiday and parents face the prospect of how they will afford to keep the kids entertained for another three weeks, family finances will no doubt be at the forefront of many people’s minds.
Facing the most expensive costs for filling spare time in over a decade, parents are no longer alone in their cash concerns.
As part of the annual Pocket Money Survey, the latest Halifax research has revealed that children as young as eight are now shouldering the money worries of their parents and lending their parents money.
Nearly nine in ten (88%) children aged eight to 15 believe that their parents worry about money, with 58% of children worrying about money themselves.
21% of children said that they think their parents worry about money ‘all the time’ and just 3% said their parents ‘never’ worried about money.
Almost a third (31%) of the 1,132 children surveyed admitted to lending other people money,