Children turning into 'money managers'
Youngsters in the UK are much better at handling financial concerns than their parents were at the same age, according to experts.
The Personal Finance and Education Group claims exposure to headlines about the recent economic turmoil has given children a good idea of how the global financial markets operate.
As a result, it claims, young people will grow up more equipped to handle their own credit cards, mortgages and other personal finances.
Chief executive Wendy van den Hende says: "Exposure to a technologically complex financial world is turning children into 'money managers' from a younger age than ever before.
"This brings with it both pressure to make decisions and a degree of independence."
A recent survey by personal finance charity PFEG found that children are making hard-headed financial decisions from the age of seven - three years sooner than their parents did.
It also noted the average eight-year-old already has a mobile phone and, by the time they are ten, youngsters are likely to be shopping online using their parents' debit or credit cards.
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