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Could debt help be the solution for struggling parents?

Could debt help be the solution for struggling parents?

- Monday, 12 April 2010

Technology accounts for an average spend of £383 a year by children, new research has revealed.

Spending at this level could lead to parents seeking debt advice where that level of expenditure is unsustainable.

A report commissioned by Halifax discovered that children in London spend the most, more than double that of other regions such as East Anglia or the south-west.

London's youth part with more than £600 every year. For parents struggling for debt solutions, pressure on children to keep abreast of the latest technological trends could stretch tight budgets to breaking point.

More than nine in ten children own a games console such as a Nintendo Wii or Sony Playstation, while expenditure on computer games comprises a significant proportion of the average child's annual spending.

Most children now own an iPod or similar device and many spend sizeable sums of money on music downloads.

Flavia Palacios Umana, a senior manager at the bank, said: "Many parents will be footing the portable entertainment bill directly or indirectly through additional pocket money contributions."ADNFCR-2300-ID-19714809-ADNFCR
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