Parents’ pampering pushes kids into debt

Bev Budsworth of The Debt Advisor said that in addition to letting children leave home without knowing how to boil an egg, materially well-off parents are failing to prepare children to living on their own financially.

“Teenagers who are given no responsibility in the family home tend to have no respect for the material items surrounding them as they have no real knowledge of how much things cost and how to maintain large items – such as a house!” warned Ms Budsworth.

Her comments come as an 18-year-old Big Brother contestant admitted that he did not know how to boil an egg, prompting concern that he lacked knowledge in other areas.

She believes that he could just be one of many young people entering adulthood without a grasp of basic financial management.

And with such ignorance, fostered by parental shielding, Ms Budsworth fears that youngsters are “likely to spiral into debt when they are cut loose” as they have no budgeting skills.

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