Money 'a worry for UK children'

A significant proportion of children in their early teens worry about money difficulties, according to new research.

Statistics from Abbey show that 21 per cent of 11 to 15-year-olds are concerned that they will get into debt and be poor when they are older, while a further nine per cent are anxious they will not be able to buy a house.

However, exam stress was found to be a much bigger worry for young people, with the prospect of failing a pressing matter for 32 per cent of those surveyed by the bank.

Director of Abbey Banking Steve Shore commented that "the news is fairly extreme".

He added: "Parents can calm their children's fears on issues such as house prices and concentrate on teaching their children good financial habits such as saving their pocket money."

Meanwhile, youth charity Rainer in collaboration with YouGov last year found that 80 per cent of young people in the UK find themselves in debt by the age of 21.

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