Two out of three parents admit kids made them ‘behave better’
Having children has made nearly two out of three British parents (64%) put their principles into action, according to research from ethical bank Triodos. Nearly half of parents surveyed (44%) said having kids has made them more sensible with their money, while 29% have been forced to ‘mind their Ps and Qs'.
In addition, the patter of tiny feet has prompted more than one in four parents to ‘go green' by recycling more (27%) or not wasting so much food (26%), while one in seven (15%) have taken their new arrival as a cue to try to reduce the amount of electricity and gas they use.
Parents are just as keen to pass on these everyday values to their offspring. Again being good with money tops the list, a priority for more than three out of four (79%) parents, perhaps reflecting harsh economic conditions now and for the foreseeable in future. The timeless British principle of good manners features second in parents' priorities (76%), followed by today's green basics of recycling (67%) and avoiding food waste (56%)
Other principles which parents are keen to encourage in their children are to put their savings and investments to positive use (33%), and to dedicate time (23%) and money (19%) to good causes.
Huw Davies, Head of Personal Banking at Triodos Bank, said: "Having kids is the biggest prompt many people have to put their principles into action. As any parent knows, children pick up on everything, they ask questions and demand answers as to why we do things the way we do. Naturally parents are keen to pass on the values they believe in to their children, combining more modern priorities such as recycling and greener living with the timeless principles of sound money sense and good manners."
The mamas vs. the papas for the family values crown
Dads own up to having mended their ways most in response to having a child, with 68% having made at least one positive change to their behaviour, compared to 60% of mums. However Triodos Bank's Values + Rewards research reveals mums are considerably keener to pass on family values to their children, suggesting they may not have had so much room for improvement as their partners in the first place.
Three quarters (74%) of mums are determined that their children learn to recycle, compared to 60% of dads, while 28% of mums want their children to give time to good causes (vs. to 18% of dads). Mums are also more insistent that their children will be sensible with money (82% vs. 72% for dads), and that they grow up polite and well mannered (81% vs. 71% for dads).
As well as encouraging their children to be sensible with their money, the figures from Triodos Bank reveal more than one in four (29%) parents and one in five grandparents (20%) are currently saving for their children in the hope of securing them a better financial future. More encouraging still, one in six parents (17%) report their kids are already saving for themselves.
The bank is urging parents to help their children consider from an early age how their savings are being used by financial companies. Its unique website - knowwhereyourmoneygoes.co.uk - enables all savers, including those savings into its Right Start Saver children's account, to see all the socially beneficial organisations their savings are helping to fund and grow. Current examples include the solar PV installation at Glastonbury's Worthy Farm, Hugh Fearnley-Whittingstall's businesses, Mulberry-fashion founder Roger Saul's business among many other sustainable enterprises.
Huw Davies, Head of Personal Banking at Triodos Bank, continued "It's great to see so many parents keen to teach their kids about putting their savings to positive use. People are quite rightly most concerned about building up a nest egg for their future, but an increasing number are realising they can do this in a way which supports socially valuable organisations too, and if they can pass this thinking on early to the next generation then that really can start to make a difference."