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