More parents may take their kids on holiday during term time

The high cost of holidays outside of school term time is resulting in many parents threatening to take their kids out of school so that the family can afford to go on holiday. Read more

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Personal finance education wanted in schools by parents

New research has revealed that nine out of ten parents think personal finance education should be taught in schools.

Findings from the Association of Investment Companies (AIC) showed that over half of respondents in the survey thought this should be mandatory.

Nearly half of parents believe it is the joint responsibility of both teachers and parents to teach children how to handle their money.

Annabel Brodie-Smith, communications director with the AIC, said: “Parents are clearly worried about their children’s ability to manage their finances in the future and feel financial education is a crucial skill for adult life.”

She added that many parents believe they have missed out on a financial education “so it’s no wonder they want their children to be better prepared for the wider world.”

The survey also showed that 90 per cent of parents had no financial education when they were at school.

Over two thirds of would now like some sort of personal finance training as an adult, either to pass onto their children, or so they can put their own financial affairs in order.

Meanwhile, research from the Social Issues Research Centre shows the average top up for a Child Trust fund is £21.20.

Tags: Social, social issues research, respondents, school, adult, Association of Investment Companies, communications director, child trust fund

Parents urged to insure kids’ belongings

Parents in the UK are being urged to insure the belongings of their children, as they head off to school and college armed with everything from their text books and pencils to their mobile phones and games consoles.

Children these days, particularly secondary school and college students, carry a range of valuable items with them, and the cost of replacement if the items get accidentally damaged, or are lost or stolen, can be extortionate.

According to recent research the value of items that the average secondary school student now carried around is about £250. Parents of secondary school and college kids are therefore being advised to make sure that their children’s more expensive belongings, such as hand held consoles and mobile phones, are insured to avoid the financial implications of loss, damage, or theft.

Research shows that around 20% of secondary school students carry a hand held games console, and around three in five have a mobile phone that they carry with them. Additional cover may be needed for items such as ipods, MP2 players, and even musical instruments, which can prove to be very costly to replace if they are accidentally damaged or stolen. Sports equipment also needs to be covered wherever possible, as this can also prove costly to replace. Parents are urged to contact their insurance companies and ask for the items to be covered under personal possessions.

There are a number of insurance companies that can offer this type of cover, and parents are advised to shop around to make sure that they get affordable cover that offers competitive prices without compromising on the level of cover provided.

Tom Smith
17th October 2007

Tags: personal, belongings, kids, claim, Insurance, companies, cover, valuable

School holidays could mean more insurance claims

With the long stretch that is known as the school summer holidays, many parents are trying to think of ways to keep their children amused for the six week break, which any parent knows is not always easy.

Many children spend a great deal of time in the house over the school summer break, and particularly in the case of younger kids this can often lead to boredom and mischief. There is also an increased risk of accidents occurring when the kids are in the house all day every day, and according to a leading insurer this tends to result in an increased number of insurance claims.

According to officials from Halifax Home Insurance 20% of all claims for accidental damage are made during the months of July and August, when the kids are off school, and are often running amok in the house. These two summer months see claims for accident damage rocket by around 23% according to the insurance company, with claims for accidents ranging from smashed windows and damaged carpets to broken equipment and more.

Officials from the Halifax have been urging parents to make sure that they have accident damage as part of their home insurance policy, and also to ensure that they have an adequate level of cover in case of costly accidents. Without this type of cover parents could find that the summer holidays turn into a far more expensive time than they ever imagined, as they will have to foot the bill for accidental damage themselves.

One Halifax Insurance spokesperson stated: “It’s particularly important at this time of year for parents to check their home insurance policies and make sure they are covered for accidental damage to the home and contents. This summer’s heavy rains show little sign of abating, meaning children may well find themselves cooped up indoors for hours on end when they want to be outside playing, so they may get restless and find mischievous ways to amuse themselves.”

Tom Smith
13th September 2007

Tags: school, cover, home, claim, accidents

Third of Brits move home to improve lifestyle

Around a third of us have moved house in the last five years to seek a better quality of life.

That is according to research by Abbey, which says around 18.8 million of us were prepared to get a new mortgage to ensure we moved away from negative factors such as crime and unruly neighbours.

According to the research, almost 5.3 million people decided to move because crime levels in their previous area were too high.

In addition, 4.5 million people revealed that they moved to get away from irritating or annoying neighbours, while 2.6 million people wanted to live within a better school catchment area.

“When buying a home people have more to consider than just the building itself,” said Nici Audhlam Gardiner from Abbey.

“People spend a lot of time looking not only for what they want in a home, but for what they need in the area they live in, and more often than not, these requirements are for the greater good of the family.

“Crime and family safety is clearly a top priority for most buyers, but moving to get the right school for your children or to avoid unruly neighbours also have an important impact on the selection of a home,” she added.

The survey found that people in Wales are the most likely to move home in search of a better quality of life, with the majority of people moving to the south-west.

Tags: life, crime, Brits, previous area, quality of life, school, Wales, home