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Parents `prepared to get into debt for their children`

22 September 2008

British parents are prepared to risk personal finance difficulties for the sake of their children.

This is the finding of a survey conducted by National Savings and Investments (NS&I), which found that many parents are willing to get into debt in order to provide their offspring with the best opportunities in life and to ensure they do not miss out.

The research also discovered that consumers in the UK are keen to put money away.

NS&I stated: "The population is hoping to save more than ever before, possibly in an attempt to accumulate a more substantial savings `pot` to increase financial security."

In other news, research conducted recently by YouGov on behalf of GE Money and MoneyBasics.co.uk found that many Britons are concerned about retirement debt.

According to the study, only 27 per cent of people polled were confident their pension would provide them with enough income after they give up work.
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