Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Loan charges: Parents 'spend £500 annually' on trendy goods for children

Many mums and dads are incurring bank charges and making credit card claims in an attempt to help their children to fit in, a study has shown.

Research from Skipton Building Society found the average parent spends nearly £500 every year ensuring their children do not stand out from the crowd, buying them the same gadgets, clothes and toys as their peers.

Furthermore, six in ten respondents to the company's poll purchase faddy items as soon as their son or daughter asks for them, rather than wait until they decide their child has earned it.

Some of the reasons adults say they buy their children these items include encouraging them to do their homework, bribery or because they feel guilty for working long hours.

A total of 17 per cent of mothers and fathers reported that their child's peers are pressuring them into owning these goods, so they buy them.

"We've been living through a credit crunch for four years now which - although difficult - could also result in youngsters better understanding how important it is to spend and save money wisely," head of corporate communications at the building society Tracey Fletcher said.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801430392-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide