What Students Say vs What Parents Think - Student Finance

A NatWest THE TRUTH ABOUT STUDENT SPENDING How much do parents really know about their children's finances? WHAT ШНАТ STUDENTS VS PARENTS THINK SAY 28% THE OVERDRAFT TRAP 8% OF STUDENTS OF PARENTS ADMIT TO LIVING IN THEIR OVERDRAFT THINK THEIR KIDS ARE SPENDING THEIR OVERDRAFT 1IN 5 JUST PLASTIC-NOT- SO-FANTASTIC 3OI ЭП0 STUDENTS PARENTS USE CREDIT CARDS FOR EVERYDAY PURCHASES (1 IN 2 USE THEM TO SPLURGE) THINK THEIR KIDS HAVE CREDIT CARDS 8234 9817 5500 1IN 3 RAIDING THE PIGGY BANK 1IN5 STUDENTS PARENTS DIP INTO THEIR SAVINGS (1 IN 5 REGULARLY) THINK THEIR KIDS ARE SPENDING THEIR SAVINGS 48% BАПК ОF MUM & DAD 52% OF STUDENTS OF PARENTS ADMIT TO ASKING PARENTS FOR HAND- OUTS IN TERM TIME CLAIM THEY'RE RELIED UPON FOR EXTRA CASH IN TERM TIME PAUL & JANE LTD 58% 56% REALITY CHECK OF STUDENTS OF PARENTS SAY THEY CHECK THEIR BALANCE REGULARLY BELIEVE THEIR KIDS ARE RESPONSIBLE ENOUGH SLEEPLESS ПIGHTS 2 IN 3 STUDENTS PARENTS LOSE SLEEP OVER THEIR FINANCES CALL THEIR KIDS REGULARLY TO DISCUSS FINANCE BINO 1 N 3 8 IN 10 HONESTY IS THE BEST POLICY STUDENTS PARENTS CLAIM THEY'RE HONEST ABOUT THEIR FINANCES BELIEVE THEIR KIDS ARE HONEST ABOUT THEIR FINANCES HOW IT ALL ADDS UP TERMLY CASH INJECTIONS £541 £1,044 £2,077 BANK LOAN/ OVERDRAFT PARENTS TUITION FEE LOAN £612 f1,128 MAINTENANCE LOAN PART-TIME JOB MONTHLY SPENDING f140 £28 £16 GROCERIES ALCOHOL PHONE BILL £271 4 f31 f1 ADMIT ONE RENT CLOTHES LEISURE Bosed on data from a GMI nationally-representative online survey conducted between 29 July and 2 August 2013. The total sample size was 400 adults, of which 200 were full-time students aged between 18-25 years, and 200 were porents of full-time students in their first, second or third year.