Fathers across Britain are spending considerable sums to appear cool in the eyes of their children, according to recent research.
Figures compiled by Friends Provident show that 34 per cent of British dads have spent money on fashionable clothes and gadgets as a result of pressure form their sons and daughters.
And with debt management problems increasing for many families, the latest data indicates that fathers are spending close to £800 on an annual basis to ensure that they and their children appear cool.
Peter Timberlake, head of public relations at Friends Provident, said: “Being a Cool Dad is not cheap and fathers are spending significant amounts of money keeping up with technologies and fashions for themselves and their children.
“Many are focusing on the here-and-now, rather than thinking about tomorrow.”
Earlier this month, a report from Engage Mutual Assurance revealed that thousands of people in the UK are facing further difficulties in becoming debt free as a result of providing financial assistance to their elderly parents.
Written Giles Stevenson