Money management concerns unveiled

A significant number of children are using their parents' credit card to fund spending, it has been revealed.

Research carried out by Cartoon Network reveals that around a third of young Aussies have made an online purchase over the past 12 months, with their mum or dad's credit card quite often used to finance such expenditure.

However, it appears that as the economic downturn rumbles on many children hold money management concerns.

Indeed, the survey of 1,952 seven to 14-year-olds revealed that 19 per cent rate the global financial crisis as the most important world issue, ahead of poverty, natural disasters and nuclear weapons.

Research manager Peter Hammer points out that it seems young people "have not escaped the effects of the global financial crisis".

Writing in a News Limited article earlier this month, Libby and David Koch advised parents to teach their children about bank accounts and other money matters from an early age.

Meanwhile, those wishing to impart tips for saving were encouraged to promote shopping around for competitive deals.

Written by Bret Clement