Mar 19 2008
More than eight in ten parents with children aged under 18 have been aiming to teach their sons and daughters about financial issues, according to recent research.
Figures from Engage Mutual Assurance have shown that two-thirds of those parents who discuss finance with their children are trying to instill in them a saving ethic that will serve them well in later life.
Mothers in particular, many of whom are adding to a child trust fund, are hoping that there offspring will be aware of the importance of responsible financial management by the time they reach adulthood.
Karl Elliott, 3GB spokesperson for Engage Mutual Assurance, said: "The needs of the modern family are changing and it's important that children are prepared for the financial pressures of adulthood."
Earlier this year, the Treasury announced its plans to encourage teachers in the UK to use child trust funds as a way of engaging young people with personal finance issues.
