Abbey: Debt and housing concern kids

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Abbey: Debt and housing concern kids

Fri 25th Apr 2008

New research from Abbey has found that nearly one in four children aged between 11 and 15 are concerned about falling into debt and poverty when they are older.

Some nine per cent of those surveyed were also worried about housing prices and being able to get onto the property ladder.

Children in the midlands were the most likely to be concerned about housing prices, while those in the north of England and the south-east were already anxious about personal debt.

The bank's survey showed that financial concerns took precedence over fears about falling out with friends, but exam stress topped the list with 32 per cent fretting over important exams.

"Kids should also be taught about products such as current accounts as this will hold them in good stead for later years," Steve Shore, director of Abbey Banking, commented.

Following the Bank of England's decision to launch a £50 billion mortgage bond scheme earlier this week, Abbey announced that it will reduce rates on its tracker and flexible mortgage deals by 0.1 per cent.

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