- 17
- Oct
While children are often keen on getting hold of the latest toys and gadgets, parents may take comfort in findings suggesting that what all kids really crave is affection.
According to American Express (Amex), many children are already formulating plans to spend more time with their own families when they are adults, as todays parents highlight the stresses of working too much. The group insisted that while many parents may feel a burden to work harder in order to cater to their childrens desires, stepping off the gas and spending more time may in fact be the best way to make their young ones happy. And as inflation continues unabated and credit cards and loans dry up, the group claimed that more parents feel the need to up the number of hours they work each week.
However, by putting in overtime, many parents actually may be doing more harm to their relationships with their kids, Amex claimed. According to the group, more than half of those children who have seen their parents bring their work stresses home said they would choose to spend more time at home with their kids when they become a parent. Indeed, many kids said they would choose spending quality time together as a family over having a life that was entirely free from financial stresses.
And while many people may feel harried under the weight of rising costs and constricted credit, 93 per cent of children said they thought their worries about money and finances were causing them too much stress. As such, 87 per cent of kids said they would try to do things differently if they were to become the head of their own household.
For those parents who have been struggling to make ends meet and have found it difficult to make time for their home life as the bills mount up, taking out a debt consolidation loan may be an effective way to stretch repayments over a longer periods, thereby easing the monthly strain on finances and allowing them to spend a little more time with the family.
Indeed, taking out a debt consolidation loan may help to reduce overall stress levels, as 25 per cent of children identified managing outgoings as the biggest cause of anxiety among their own parents.
Commenting on the findings, Chris Rolland, head of American Express Insurance Services, said: “It seems that kids are wising up to the pressures their parents are facing; a quarter of kids think that the pressure of paying the bills is making their parents stressed - and almost two thirds of them wish they had more time from their mum and dad. Our research indicates that UK parents are struggling to re-focus their work life balance and keep their kids happy. To a growing number of working Britons, it seems there are never enough hours in the day and as work life begins to invade home life we understand that family time is more precious than ever.”
Elsewhere, Abbey has also identified beating bills as consumers biggest burden, with 41 per cent of people claiming this was now their top priority, above spending more time at home and saving for the future. For those who would like to get on top of their outgoings as bills soar, taking out a consolidation loan may be of interest.
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