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Money chats most important, UK parents believe

19/03/2008

Money is top of the agenda for British parents trying to prepare their children for adult life – above sex, religion and politics.

According to a new survey from Engage Mutual Assurance (EMA), parents in the UK believe talking to their children about money facts is more important than educating them on STDs, racism or religion.

Most parents with children under 18 surveyed – 81 per cent - say they are making a conscious effort to talk to their children about money matters in order to prepare them for adult life.

Karl Elliott, 3GB spokesperson for EMA, said: "The that so many parents are prioritising talking to their children about money is a reflection of the increasing strain families are finding themselves under to make ends meet."

Debt is the most common financial topic of parental education (64 per cent), followed by saving for the future (62 per cent).

After money, drugs and alcohol came a close second, with 78 per cent, then personal hygiene with 74 per cent, talking to strangers fourth with 73 per cent and finally, 'the birds and the bees' at 71 per cent.

Parents aged 45 to 54 are more likely than younger parents to be making a concerted effort to talk to their children about money matters (88 per cent), perhaps because their children are fast approaching adulthood underprepared.