New research from TK Maxx reveals that the failing economy has actually helped parents nurture a new generation of highly savvy, money-conscious young shoppers. The research saw parents of primary school children surveyed and discovered that many money-conscious children now hold their own purse strings when it comes to shopping. Over half (51 per cent) spend, on average, around £365 a year on clothes alone.
But far from thoughtlessly splashing their cash, nearly two thirds (60 per cent) of 5-11-year-olds meticulously save up their pocket money and cash received from relatives for Christmas and birthdays, stocking up their piggy banks so they can support their personal purchases.
Born out of the recession, these children have grown up with an eye for a deal, using knowledge and financial know-how garnered from their parents to ensure they spend their money wisely.
Most Mums and Dads (71 per cent) believe they have an obligation to the younger generation and the future economy to instil...
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