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Personal Finance News
01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
-
Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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This Week's Personal Finance News Update
01/11/12
-
Money advice in increasing demand, says study
31/10/12
-
Payment barriers exist for disabled and older people, says study
31/10/12
-
Gender differences apparent when financial planning
31/10/12
-
Half of Brits shop with a basic credit card, says study
30/10/12
-
Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12
-
More than half of parents are unaware of Junior ISAs
30/10/12
-
Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12
-
Brits left with £1.4bn repair bill during 'mischief week'
29/10/12
-
East of England landlords at apex of yield chart
29/10/12
-
Buyers more optimistic about Scottish property market
News
17/08/2012 11:59:16
Parents keeping up with the Joneses
A new report suggests that parents feel compelled to keep up with the Joneses when it comes to spending on their children.
Skipton Building Society found that parents spend around £500 a year shelling out on the latest clothes, toys and gadgets to ensure their children fit in at school.
There seems little concept of earning a treat, with 60 per cent of parents admitting that they buy the latest goods as soon as they are asked.
Other excuses listed for giving in to the demands of their offspring include making up for working long hours, bribery and encouragement.
However, Tracy Fletcher, head of corporate communications, said this kind of behaviour could adversely affect the child's wealth management skills.
"This instant gratification could have consequences in the future, though, as children will grow up without grasping the real value of money, or learning how to manage it effectively," she explained.
