INTRUM AB It's never too late to sort out your finances, but the best gift parents can give children is to prepare them well so they can manage their money successfully when they become independent.
With the challenges of student debt, living alone and handling bills, young people have a lot to contend with when they leave home. Teaching children about spending, saving and debt with pocket money and allowances early on means they can make small mistakes and learn when the consequences are small rather than struggle when they are adults.
Intrum's research shows that parents across Europe are indeed using the experiences of the past few years to focus on these skills. Almost two thirds (63%) say they are more likely now to spend time helping their children understand financial terms and the principles of financial management than they were before the economic crisis hit.
The latest Intrum European Consumer Payment Report, which surveys more than 24,000 people across 24 countries every year, also says parents are putting money aside as a safety net for their children - 58% say they are doing so.
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Intrum AB published this content on 01 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2023 06:05:13 UTC.
