Most Parents unable to ‘save’ their children’s futures from debt |
|
|
|
Published
:
Tue, 22 Mar 2005 01:00
|
An analysis by NFU Mutual revealed that about 45 per cent of Britain's parents were saving zilch for their children’s futures.
With merely 28 %, i.e. a quarter of parents putting aside £100 per month and a scanty 11 per cent saving a little more than that, the survey proved that on an average, British parents were setting aside barely £28.03 a month for their children.
| 49 per cent of those parents who were saving said that they were looking at long term investments for their children while another 40 percent meant to use the savings to counter the costs of education. However, 42 per cent of the non-saving lot said that they just couldn’t afford saving any money with their present incomes.
Ian Leech of NFU Mutual reiterated the need for parents to save, saying that the probabilities of a child taking personal debts in his early adult life were greatly reduced when parents saved and invested something for their children.
With the survey showing rather disappointing figures, he also emphasized the need for new measures to be taken by others along with the government to promote and aid British parents to save and thereby gift their children a debt free beginning to adult life.
|
|
|
|
|
|
Print this Story
