Survey: Parents fear children will face more severe financial difficulties than they did

66% of parents believe their children will face more financial difficulties in the future than they did.

New research undertaken by Irish Life has also revealed that 73% of parents are taking measures to assist their children's financial future.

The survey, carried out by Red C, showed that, despite living through a recession, parents still feel their children will suffer more substantial financial struggles.

As well as this 69% of parents are taking proactive steps to teach their children financial sensibility by showing them shopping bills, explaining budgeting and encouraging them to use their pocket money wisely.

When it comes to prioritising children's happiness, parents indicated that the most important thing was to complete their education, followed by financial security.

The survey also showed that a child's personal happiness to precedence over home ownership as almost 45% of people asked said they would like their child to find a soulmate compared to 34% who said home ownership was most important.”

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