POUND NOTES

MOTHERS ‘MORE LIKELY THAN FATHERS TO ENCOURAGE CHILDREN TO USE MONEY MANAGEMENT APPS’

MUMS are more likely to instigate conversations about finances with their children, and rely on technology to facilitate this, according to new research from Fidelity International. Some 28% of the mothers surveyed are happy to speak to their children about money management, compared with 19% of dads. In addition, 76% of mums are prepared to encourage children to use money management apps as part of their financial education, compared with 64% of fathers.

HOUSE DEPOSITS AND HIGH RENTS FORCE ADULTS AND PARTNERS TO MOVE BACK IN WITH PARENTS

A QUARTER of ‘boomerang’ adults who move back into their parents’ home with their partner in tow, do so in order to save for a house deposit. For a further 12% however, the move was made because they could no longer afford their rent.

As for the parents whose adult children – and their partners – are moving back in, less than a third (30%) charge rent, with the average monthly payment standing at £115.60.

Partners are even less likely to pay rent, with less than a fifth (18%) being charged for staying with their partner’s parents. The average rent charged to them is £109.90.

SHOPPERS WARNED OF RISKS OF LEAVING VALUABLES IN CAR

THE AA is warning people shopping during the festive sales to remember not to leave valuables in their car. It says many retailers will be happy to let customers leave their items to collect later, rather than make repeated trips back to their car.

The AA also suggests that people should not leave their shopping bags where they can be seen in their car – and also to keep receipts separate so that, if the worst should happen, consumers have a record of what is missing.

FINANCIAL FACT:

PERSONAL loan rates have been on the increase – just as households start to feel the squeeze from Christmas debts. The average rate advertised on a £7,500 loan over five years stood at 4.8% in December – the highest level since 2016, according to analysis from financial information website Moneyfacts.co.uk