Welcome to this week's instalment of finance news where we talk money skills, financial education and how one techie teen is leading the way.
Teen makes Tech Innovator of the Year
We love reading about teens who are entrepreneurial. Who better to feature than Nick D'Aloisio who has been voted the Wall Street Journal Magazine's Technology Innovator of the year 2013. You can read more about his incredible story here. Highlights include how he learned to code from a young age and how he designed his app Summly, which has attracted investment from around the world, ranging from Hollywood celebrities to Hong Kong billionaire Li Ka-shing and most recently was acquired by Yahoo!
Bank of Mum and Dad hands out £44billion a year
It probably came as no surprise, but research on Saturday showed that young adults in the UK are becoming increasingly financially dependent on parents who are paying out a staggering £44billion each year. That works out at an average of £1,125 annually per grown-up child - and subsidies from the Bank of Mum and Dad are very much on the increase, says the report from Lloyds Bank. Dubbing the new generation of borrowers 'adult children', the research found that 70 per cent of home leavers are receiving some form of of financial assistance today, compared with 53 per cent during the 1970s. You can read more about the findings here.
Playtime Training for anxious parents
A survey from Playmobil has revealed that many parents of young children worry that they do not spend enough time playing with them and that they're baffled by the technology and electronic toys they buy for their children. Unsurprisingly, it found that more than nine out of 10 parents buy electronic toys for their children, but a third of mothers admitted to being baffled by children's high-tech gadgets and games. If you’re struggling to keep up as well it’s worth visiting Quib.ly, a community designed to help parents navigate the opportunities and challenges of their children growing up in a connected world.
With parents giving more and technology having a greater role in family life, find out how our card and app can help your children develop good money skills and make your life a little bit easier. Visit our 'How it Works' page to learn more.
IMAGE - http://www.telegraph.co.uk/technology/9885632/Nick-DAloisio-Britains-17-year-old-app-entrepreneur.html