HSBC recession survey shows kids' thrifty instincts

Peter Bull, HSBC spokesperson, was reassured by these findings and suggested there was a danger in children picking up bad spending habits from their parents.


The research was conducted by YouGov and sponsored by the bank and Personal Finance Education Group (pfeg).

Findings showed that 80 per cent of children would save rather than get into debt and they saw money as something which assisted learning.
Wendy van den Hende, chief executive of pfeg, added: "This does not always last into adulthood, which is why we are working to improve financial education in schools to reinforce these instincts."

Comparison website uSwitch.com recently found that five million Brits spend ten per cent more than their income allows and 13 million break even at the end of the month, making no savings whatsoever.