94% of parents are worried about their children’s financial future

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

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