Children ‘concerned’ about mortgages and debt
Around one in four children aged between 11 and 15 are worried about falling into debt and poverty when they are older, according to Abbey.
In addition, nine per cent of the children it surveyed were concerned that they would not be able to afford a mortgage for a house.
Financial worries came ahead of fears about falling out with friends, but behind exam stress which troubled 32 per cent of respondents.
In terms of location, children in the north of England and the south-east were the most likely to be concerned about debt, while those in the midlands were the most worried about house prices.
Steve Shore, director of Abbey Banking, said: "Kids should also be taught about products such as current accounts as this will hold them in good stead for later years."
In related news, Abbey announced earlier this week that it will reduce rates on its tracker and flexible mortgage deals by 0.1 per cent, following the Bank of England's decision to introduce a £50 billion mortgage bond scheme.
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