Aug 22 2008
While saving for children is important, parents should remember to keep their own financial wellbeing healthy, Addidi Wealth has said.
Director of the wealth management company Anna Sofat said: "Anything over and above a decent education should be seen as a bonus, not a life necessity."
She added that children would benefit in the long run from not always having their parents to support them, asking: "Where is the incentive for them to make something of themselves?"
Ms Sofat advised parents to support their families as much as they can without damaging their own financial condition.
Long-term investment provider Skandia said over a third of parents predict they will still have their children living with them throughout their adulthood due to difficulties in getting on the property ladder.
Also, 31 per cent of parents are worried that house prices will push children out of a community considered to be safe.
