Jul 10 2008
British parents are aiming to shield their children from the impact of the credit crunch, a recent study by Skipton Building Society has suggested.
Most adults have been cutting back on certain expenditures and feeling the financial squeeze in recent months but the amounts handed out as pocket money to children have not decreased.
In fact, nine out of ten children have seen their pocket money levels increase or stay the same despite the economic gloom that has set in since the start of the credit crunch last summer.
"The protective way we feel about our children clearly extends to finances too," said Steve Haggerty, Skipton's managing director.
"Whilst we are cutting back on our own spending, those of us with children are making sure they feel as little of the credit crunch as possible."
Cash-based individual savings accounts (Isas) are often used as a way of saving for children and Skipton announced the launch of their latest Isa earlier this month.
