No doubt there are many parents only too aware of how much their children cost their parents, but are they making the most of their teenage financial adviser to save money?
Recent statistics suggest children cost parents an average of £300,000 until they are 21.
But there may be an opportunity for parents to get their children to help them save money and not just spend it, particularly when it comes to technology related items or gadgets.
Reason being, teenagers are generally far more clued up on these than their parents.
What’s the latest smartphone, what about the iPhone 3G S, where can you download music from, what’s the best laptop are typical technology type questions that many teenagers could easily answer. How many parents could though?
Recent research from T-Mobile showed that around half of parents would seek advice from their teenagers about technology purchases and this video helps explain why.