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Debt problems – next generation

17/03/2011 Get Adobe Flash player

Parents across the UK currently dealing with debt problems may be seeking debt help regarding their issues in a bid to protect the livelihood of their children.

A new survey from the ethical banking group, Triodos, has found that 44 per cent of parents view the advent of having children as the standout reason for addressing their financial issues.

The research also discovers that 79 per cent of British adults say they hope to pass down their financial know-how to the next generation of their family.

Parents who do so - could help steer their offspring away from the plight suffered by so many from the current credit crunch generation.

And a further 33 per cent of Brits cite that they’re hoping to encourage their children to put whatever savings and investments they have to good use.

Head of personal banking at the firm, Huw Davis says: "Having kids is the biggest prompt many people have to put their principles into action." ADNFCR-2613-ID-19953827-ADNFCR

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