Parents’ confidence hit as fears grow for children’s finances
MOTHERS are more gloomy than ever in fearing that their children have fewer opportunities than they did when they were growing up, a new study showed today.
According to a survey by Asda Mumdex, kids remain mum’s top priority, which is why they are spending twice as much on them as they put away in their savings.
Mothers on the 4,000 strong panel were worried that their children will not be able to afford a university education despite having supported them for longer than their own parents did – and that is ultimately having repercussions on their own retirement plans.
“What this shows is that while mums have one eye on balancing the day-to-day, what concerns them most are the real long-term consequences for their kids,” said Asda’s Judith McKenna.