Working parents and their relationships with money
For the final episode of Series 1, Jamz speaks to Alex Holder — author of Open Up: The Power of Talking About Money — and writer Remi Sade to discuss the new set of challenges young parents face as they look to balance their work and family lives.
A combination of an uncertain economic climate, limited access to home ownership and difficulties surrounding long-term saving has meant many millennials are choosing to start families later or, in some cases, not at all.
Working parents in this demographic face vastly different challenges to those before them — from new co-parenting dynamics, to concerns around social media and technology, to balancing fast-paced careers with family time.
This is reflected in the tools they look to use to help them stay on top of their family’s finances. The industry can no longer rely on the ‘nuclear family’ model to shape the financial products it develops; instead, businesses must take into account the new dynamics of modern parenthood to ensure these products are resonating with real people in meaningful ways.