Wednesday 4th of November 2009
The future of the nation’s children could be safeguarded with more careful debt management and better understanding of other financial issues among British parents, it has been claimed.
Credit Action - which compiles monthly statistics on the country’s debt management efforts, outstanding amounts owed and the increase in lending due to accumulated interest - is now calling for parents to be given more financial education.
"By assisting parents to develop sound personal finance skills such as budgeting this can help parents and their children escape poverty or prevent them from slipping back into poverty," the organisation asserts.
The comments come in response to the publication of Through Thick and Thin: Tackling Child Poverty in Hard Times by the Campaign to End Child Poverty, of which Credit Action is a member.
In the report, the nationwide nature of the recent economic turbulence is noted - with Berkshire and Surrey seen to have experienced the greatest rise in unemployment despite being regarded as affluent areas.
Written by Neil Burton
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