Oct 30 2007
Parents of children aged between five and 13 still have time to avoid a "financial train crash" if they save money on a regular basis for their offspring, it was suggested today.
According to the Children's Mutual, rising house prices coupled with student debts are putting more of a strain on 18 to 25-year-olds than ever before.
But if parents of younger children act now, they may be able to prevent a financial headache from occurring, the organisation said.
"Parents with children aged between five and 13 could still have enough time," remarked David White, chief executive of the Children's Mutual.
"By engaging now and saving a little, often, they could help to avoid the financial conundrums being faced by the parents of today's young adults," he added.
Furthermore, Mr White discussed the potential benefits enabled by child trust funds, suggesting that they have encouraged saving at an earlier age.
The Children's Mutual is the trade name of Tunbridge Wells Equitable Group.
