Parents anxious about children falling into debt

by Richard Kilner

Story link: Parents anxious about children falling into debt

Nationwide has conducted research in conjunction with the Personal Finance Education Group revealing that some 69% of British parents are concerned about their children falling into debt in the future.

This marks a rise from last year when only 62% of parents felt anxious about the subject.

The research also shows that parents believe financial responsibility ought to be taught in school, with 77% backing the idea, and 94% believing financial education for children is a matter of importance today.

However, the parents surveyed also hold themselves responsible for teaching their children about finance, with 91% stating that parents, as well as schools, have this duty.

Nationwide’s head of corporate responsibility, Caroline Hallatt, has said that it is important children are taught enough on the topic to allow them to make good choices once they leave school.