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, with 63% of these lending to friends and 29% lend...
Want to see the rest of this article?
Would you like to see the rest of this article and all the other benefits that Issues Online can provide with?
- Useful related articles
- Video and multimedia references
- Statistical information and reference material
- Glossary of terms
- Key Facts and figures
- Related assignments
- Resource material and websites