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Wednesday 20th August 2008
Demands from school-age children might be pushing parents in to the red, Sheilas' Wheels has warned.
According to the insurer, one in five will be using their credit cards to fund their "back to school" spend - which might hit £1,600 in some cases.
This is because many youngsters are asking for - and getting - expensive mobile phones and mp3 players to show off in the playground.
Four in ten were found to be taking in phones to school, while one in five were doing the same with their iPods.
Moreover, over four in ten parents reported that they felt "pressured" by their children to buy them an expensive gym kit.
Unsurprisingly, 87 per cent of this group indicated to Sheilas' Wheels that they were now on the look out for bargains, in order to cut the cost of their school spend.
Jacky Brown at Sheilas' Wheels home insurance commented: "Every parent knows that it's costly to kit out a child for school with the basics, let alone designer gear and must-have gadgets."
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