Parents worried about future debt

Mon, 20 Feb 2012

Many parents in the UK are concerned that their children may experience problems in the future.

New research from JP Morgan Asset Management has shown that 94 per cent of mothers and fathers are worried about their offspring's finances later in life - but only 35 per cent of them would consider opening a Junior ISA for their little ones.

According to the investigation, a high number of mums and dads pointed to the ability of their kids to survive financially as the matter they are most fearful of, with 57 per cent of those questioned citing this.

Keith Evins, head of UK marketing at the organisation - which is part of JP Morgan Chase and Co - said: "With recent figures showing youth unemployment in the UK currently standing at 22 per cent, it is unsurprising such a high proportion of parents are concerned about their children's future."

The industry figure noted it is alarming that so few people have considered opening a Junior ISA in order to ease debt concerns for the future and to help youngsters start saving from an early age.
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