Parents teach children about credit crunch

| March 6, 2009 | 0 Comments

Parents are actively teaching their children about the recession, research by Co-operative Child Trust Funds has discovered.

More than half of British parents have taken proactive steps to educate their children on financial matters since the onset of the credit crunch, the poll found.

Talking about the economy is now a regular feature in many children’s lives, alongside bedtime stories and school homework.

Children are curious about financial matters too, with one in three (35%) six-to-nine year olds asking Mum or Dad about the credit crunch.

Zack Hocking, Co-operative’s head of Child Trust Funds, said: “Parents clearly don’t want to shelter their children from the realities of the credit crunch and are making extra efforts to improve their financial education.

“If children are taught about money from an early age, future financial decisions are likely to be better considered.”

Recent research by financial education charity pfeg found that children today are more financially savvy than their parents were during childhood.

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