If you were born in the 1960s or ‘70s you are likely to be worse off than your parents, according to a new report.
This is not due to lower earnings, but people failing to save money in this generation, as they need to spend it all on their more expensive lifestyles.
This doesn’t surprise me really. I was at a pantomime the other day when four young children were invited onto the stage to say what they wanted for Christmas. The four year-olds on stage all piped up that they would like an iPad from Santa!
When I was a child, you were lucky to get a selection box, the latest pop record and maybe a plastic action figure for Christmas – now pre-schoolers are asking for their own computers!
In fact, when the teacher in my child’s class (seven and eight-year-olds) asked what everyone wanted for Christmas the other day, the list included iPads, Blackberrys, laptops and ‘a grown-up designer handbag’. I did wonder what on earth a seven-year-old thought they needed their own mobile phone and designer handbag for?
Either there are going to be some very disappointed children out there this Christmas or some very skint parents!
Luckily the top toys list for 2013, as published in The Telegraph, shows a slightly more healthy picture, with more traditional favourites such as Lego, a doctor’s kit, a fairy doll and some pretend fish being among the most popular.
I like to think I am able to move with the times, but it is a shame to see children asking for gadgets and mobile phones at such a young age – surely there is plenty of time for all that?