Nationwide research lays bare parents' debt fears

30/10/2008

Almost two-thirds of parents are worried that their four to seven-year-old children will fall into debt in adult life, new figures from building society Nationwide show.

The new survey also found that 18 per cent of parents and teachers don't think that their children or pupils know "anything at all" about managing money at the moment.

More disturbing still, a minority (49 per cent) of parents and teachers said that they knew a significant amount about proper budgeting - while just 21 per cent talk to the children about money.

In response, the building society has launched a new "financial capability campaign" through its website, nationwideeducation.co.uk.

Tony Prestedge, executive director at Nationwide, said: "Our research shows that much more needs to be done to help teach children about money.

He added: "We know it is one of the government's targets to engage children in financial learning and… we really do want to help young people learn about money and we look forward to providing them with the means to achieve this."

Tags; Income Worries and Debt, Young Family Finances,

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