1 in 5 UK parents fear life will be harder for their children as cost-of-living soars
New research from online investment service Wealthify reveals a fifth (20%) of UK parents try to save for their children because they fear life will be harder for them. This follows the news that the cost of living has soared to its highest rate in 10 years.
Almost a quarter (22.8%) of UK parents feel like they don’t have enough income to save for their children - despite 45% earning more than the average UK salary (£31,000). Nearly one quarter (22.8%) of parents in the UK haven’t set up any savings for their children while over three quarters (76.4%) plan to: