A study by J.P. Morgan has found that 94% of parents are worried about their children’s financial future.
- 57% said they were concerned about whether their children would be able to enjoy life without struggling financially
- Meanwhile, unemployment (56%) and the rising cost of living (53%) were the second and third biggest areas of concern
- Furthermore, 22% of parents fear that the level of savings that their children will have accumulated when they reach adulthood will not be enough – this rises to 25% amongst parents with children under the age of 5
Source: Credit Action – March 2012 edition