Parents spend £500 a year so their children ‘fit in’ at school
It seems children are not the only ones feeling the effects of peer pressure, as parents spend £500 making sure their kids have the same gadgets, clothes and toys as their friends.
prepaid cardsAccording to research by Skipton Building Society, 17% of parents say that they do not want to disappoint their children who are under peer pressure to own certain products.
Six in 10 parents admit it is important to them that their child fits in with their friends, while 34% confess to buying their children ‘must have’ items to prevent teasing and bullying at the hands of their peers.
Tracy Fletcher, Head of Corporate Communications, said: “Parents are naturally concerned about their children having strong friendships, and feeling part of their peer group both in and out of school.
“And if they think they can help the child become more popular, they will. Unfortunately, this seems to mean spending endless amounts of money on playground crazes, collectables, latest trends in fashion and gadgets.”
The study also found that six in 10 parents treat their children to gifts whenever they request them, whether their son or daughter deserves them or not.
Tracy commented: “This instant gratification could have consequences in the future, though, as children will grow up without grasping the real value of money, or learning how to manage it effectively.”
In what has been branded a ‘Generation Give-In’ style of parenting, children are being treated because parents feel guilty for working long hours or find gifts to be useful bribery or encouragement tools when it comes to homework.
More than half of parents say that their own parents only treated them to new toys and games for birthdays and Christmas, admitting that their own children are far more spoilt than they were at their age.
Tracey added: “Although saying no can be really hard, it's an important lesson in life which could help ensure our children are prepared for when they're older and have to make ends meet for themselves.”
Prepaid cards are a great way to teach your children the value of money and ultimately how to budget.