Busy working lives and hectic schedules mean parents are increasingly running out of time to spend with their children and, much as they would like to prioritise them, family just doesn't come first. When asked what they wished they had more time for, a third (32%) of parents said friends and family.
A third (31%) of parents who are not spending enough time with their families admit their job gets in the way of quality time at home, and nearly half (46%) of the parents and grandparents who feel they are not putting their family first said this was because they simply don't have enough time to spend with the kids. But time-poor parents who work long hours to provide for their families could wind up losing out on more than just money if they don't make enough time with their kids. Financial security is also a key concern for parents, as a quarter (25%) worry about neglecting this.
Alison Morris, savings expert for Scottish Widows commented: "It’s understandable parents want to work hard to provide for their children's futures, but they could be missing out on spending valuable time with them growing up.
"Taking the time to plan finances now could relieve some of the monetary pressure, as well as giving parent's some precious extra time with their families now and in later years. The fact that so many parents admit they worry about neglecting their children shows how some extra financial planning could ease unnecessary stress and guilt amongst working parents. For those that are able to put money aside for their retirement, the golden rule is to save 12% of your income. Getting your finances in shape will give you peace of mind knowing that you have one less thing to worry about."
