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Bank charges: Children 'copy parents' attitude to money'

If parents are juggling credit card charges and making payday loan claims, there is a good chance their children will do the same when they grow up, statements from a specialist have indicated.

Sue Atkins, author of Raising Happy Children for Dummies and Parenting Made Easy: How To Raise Happy Children, said: "You are a blueprint for how your kids will handle savings, how they will talk about money and how they behave around the whole issue of finance."

She suggested that mums and dads who are a "spendthrift" and who do not budget or plan ahead will see their children either copy their actions or become excellent savers as a reaction against this behaviour.

Adults who continually say that they do not have enough cash will be likely to raise children that are "fearful" about money, the specialist added.

Liat Hughes Joshi, author of Raising Children: The Primary Years, recently claimed giving kids pocket money could help them with financial planning.

Charles Baker
Charles is a reputed financial analyst with decades of experience under his belt. ADNFCR-2776-ID-801448340-ADNFCR

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