Children in the South-West have expensive career hopes (From Bridgwater Mercury)

Children in the South-West have expensive career hopes

10:40am Monday 11th May 2009

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CHILDREN in the South-West have costly career aspirations, a new report has revealed.

Parents could be faced with bills of between £75,000 and £130,000 in 12 years’ time if their young children pursue their top career aspirations of teacher, doctor or vet, according to new research from The Children’s Mutual.

The Child Trust Fund provider questioned five and six-year-olds about what they want to be when they grow up and found that the top three career choices would all require a significant financial outlay in the future.

The figures show that the current cost of a three-year degree course is nearly £42,000, but when these five and six-year-olds are ready for university it could be as much as £56,300.

And the additional costs of training to be a doctor or vet will add to these bills significantly.

The top 10 career ambitions, according to The Children’s Mutual, are:

• 1 Teacher

• 2 Doctor

• 3 Vet

• 4 Footballer

• 5 Firefighter

• 6 Actor/actress

• 7 Police officer

• 8 Dancer

• 9 TV/cartoon character

• 10 Hairdresser

Tony Anderson, marketing director at The Children’s Mutual, said: “It’s encouraging that today’s five and six-year-olds have such lofty ambitions. But the top three career choices all require higher education and training in order to be able to fulfil them, meaning parents are likely to have to find significant lump sums to help their children achieve their aspirations.

“The Child Trust Fund was introduced to help level the playing field to give all children a tangible financial asset when they turn 18 which can help shape their futures, which in many cases will include higher education. By saving regularly into a Child Trust Fund over the long-term, families could help their children pursue their chosen careers without jeopardising their own financial futures.”

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