Parents could need debt management as children pile on fashion pressure
Parents could need debt management as children pile on fashion pressure
Thursday 11th June 2009
According to new research by Sheilas' Wheels home insurance, parents across the country are cutting back spending on their own clothes in order to get the latest designer fashions for their brand-conscious offspring.
Primark, TK Maxx and Peacocks among others will do just fine for mums and dads but high end, designer stores such as Abercrombie & Fitch, Jack Wills and Lacoste are the source of their clothes-obsessed children's attires.
The difference in the costs involved could not be any starker, the insurer pointed out.
While trendy designer brand t-shirts, sweatshirts and trousers can set parents back up to £60 per item, a t-shirt from Primark can cost as little as £3.
Despite this, the research found that more than three quarters of parents (76 per cent) are reducing spending on themselves but 43 per cent are not making any cut backs.
"Clearly today's parents are feeling under a lot of pressure to buy top-end clothing for their children," said Jacky Brown of Sheilas' Wheels.
"It's crucial not to underestimate the cost to replace a child's wardrobe as the value of kids clothing and accessories really does add up."
Consumers tempted into using 'buy now, pay later' deals being offered on some store cards were recently warned by debt Charity Credit Action to be careful as some of them could be very expensive.
News article brought to you by Debt1 – Confidential, helpful and friendly debt management.
Related News
New figures show sharp rise in demand for debt advice - 10/06/09
New figures that have been published today (June 10) have revealed a greater need for debt management solutions in England and Wales as an increasing number of consumers plunge into the red due to various circumstances
New figures that have been published today (June 10) have revealed a greater need for debt management solutions in England and Wales as an increasing number of consumers plunge into the red due to various circumstances
Buy-to-lets could push some to seek debt management solutions - 09/06/09
People looking at entering into the buy-to-let market have been advised to speak to people with knowledge of the sector before committing or they risk being forced to seek debt management solutions later
People looking at entering into the buy-to-let market have been advised to speak to people with knowledge of the sector before committing or they risk being forced to seek debt management solutions later
Debt management nightmare for ID theft victims - 08/06/09
Consumers risk being forced to seek debt advice as a result of being blacklisted due to the theft of their identities by criminals
Consumers risk being forced to seek debt advice as a result of being blacklisted due to the theft of their identities by criminals
Consumers in need of debt advice due to SRBs get helping hand - 04/06/09
Consumers in the UK are set to benefit from new measures announced by the Financial Services Authority (FSA) to prevent them from the risk of being thrown into debt due to unfair practices by sell-and-rent-back (SRB) scheme operators
Consumers in the UK are set to benefit from new measures announced by the Financial Services Authority (FSA) to prevent them from the risk of being thrown into debt due to unfair practices by sell-and-rent-back (SRB) scheme operators
Debt management solutions needed as more plunge into the red - 03/06/09
A bigger number of British people may be in need of debt management solutions following news that personal debt continues to increase as the daily cost of living bites more into finances
A bigger number of British people may be in need of debt management solutions following news that personal debt continues to increase as the daily cost of living bites more into finances
News Article Search
Quick Apply
News Archive